Top 1% see earnings rise 188%.

El-Erian cautions of ‘lost generation’ as income gap grows
The Top 1% saw their incomes almost triple in current decades, while middle class and lower-income Americans saw theirs creep up by only 18%, according to brand-new federal government data. The outsized profits those at the top accrued triggered the income inequality space to widen even further, according to the Congressional Spending plan Workplace, which took a look at Americans’ incomes and tax problems between 1979 and 2013. The federal tax system helped reduce the gap, however not as much as federal government transfers– including cash assistance, food stamps, Social Security, Medicare and joblessness insurance coverage– did.

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