Last year, income gains were larger for households at the bottom and middle of the income distribution than for those at the top (see chart 2).
The way ahead
Pres. Obama (Archives)
2.5K101

Is that really true? From another point of view, it’s obviously false. The richest decile already has more than ten times as much income as the poorest decile (and probably much more)*. If I already make ten times as much as you, then a 1% increase for me is the same dollar amount as a 10% increase for you. Thus the 3% increase on the top decile is a much larger dollar amount than the 8% increase on the bottom decile. Still, it’s nice to see some improvement on the bottom.

(* This can be inferred from a graph I found here; keep in mind that there are enormous sums of money hidden in the final $200,000+ bar, as the top 1% makes over $500,000 per year, and while the top 1% has slightly over half of all “wealth”, the top 0.1% alone has 22% of the wealth —though one should keep in mind the distinction between wealth and income.)