Richest 1% Earn Record Share

of US Income

The income gap between the richest one percent of Americans and the rest of the country widened to a record last year, according to an analysis of Internal Revenue Service figures dating back 100 years.

The analysis of IRS records back to 1913 found that the nation's very wealthiest—those making more than $394,000—earned 19.3 percent of all household income in 2012, while the top 10 percent took home a record 48.2 percent of total earnings, The Associated Press reported.

In 2012, incomes of the top one percent rose nearly 20 percent compared to a one percent increase for the remaining 99 percent.

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When the power of love overcomes the love of power the world will know peace.
                                                              —Jimi Hendrix
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