A new report confirms that income inequality has reached its most drastic levels since 1928, the gilded moment before the stock market crash that led to the Great Depression. The study, conducted by professors at University of California and the Paris School of Economics, showed that the top one percent of earners–those that make $394,000 or more–made 19% of America’s entire yearly income, and the top 10% make a whopping 48.2%.
Emmanuel Saez of the University of California maintains that the top earners are mostly “highly paid executives or entrepreneurs,” what he calls “the working rich,” according to the AP, but he has doubts about the status quo.
“We need to decide as a society,” he said, “Whether this increase in income inequality is efficient and acceptable.”
