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Inequality at the top of the distribution has also been exploding in the United States, with the top percent of earners capturing almost 25 percent of total national income, while the same number is around 5 percent in Finland and Sweden.
"New Jersey would have to be in the top percent of I.M. usage," Professor Katz said.
In other words, to get in the top percent of income, one needs an income of more than $350,000.
Hedge-fund managers have made so much money for themselves that they are in the top percent of the one percent.
In fact, it would be the most extreme version, the biggest tax cuts for the top percent of the people in this country than we've ever had.
This industry trend, referred to as salary compression, is much the same as pay rates in other American industries in which CEO pay to average worker has soared to unprecedented levels hovering at 400 to 1 and like the rest of the population only the top percent of our membership has seen their wages grow, while the rest of us have stagnant or falling earnings.
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Top 5% of lawyers in their fields.
This will affect the top 1.5% of pension savers.
For the top 80% of Americans, income will drop.
The top 10% of earners held a record 48.2%.
The top 10% of Americans are nearly twice as well off as the top 10% of Nordic households.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com