Personal Finance Advice and Commentary

Tuesday, March 13, 2012 4:50 pm
By Judy Martel · Bankrate.com

Those in the highest echelon of income earners — the 1 percenters — are speeding past the rest of the population when it comes to rebuilding wealth after the recession of 2007 to 2009.

A study by E. Morris Cox Professor of Economics at Berkeley Emmanuel Saez, “Striking it Richer: The Evolution of Top Incomes in the United States,” shows that in 2009 to 2010, the 1 percenters captured an astounding 93 percent of income growth. The stock market, which has doubled in three years, is responsible for most of the gains of the wealthy since the recession, while the majority of Americans are still suffering from a sluggish housing market and jobs recovery.