Must-Read: Gabriel Zucman: GSPP Policy Research Seminar: Wealth Inequality in the United States Since 1913: Evidence from Capitalized Income Tax Data
Must-Read: Gabriel Zucman is talking at Berkeley on November 30 on the sharpness of the peak in wealth accumulation. It’s not any sort of broad-based phenomenon, it’s all at the peak–the surge in incomes at the very top, coupled with their inability or unwillingness to increase their spending to match…
: GSPP Policy Research Seminar: Wealth Inequality in the United States Since 1913: Evidence from Capitalized Income Tax Data: “We estimate wealth by capitalizing the incomes reported by individual taxpayers…
…accounting for assets that do not generate taxable income…. Wealth concentration has followed a U-shaped evolution over the last 100 years: It was high in the beginning of the twentieth century, fell from 1929 to 1978, and has continuously increased since then. The rise of wealth inequality is almost entirely due to the rise of the top 0.1% wealth share, from 7% in 1979 to 22% in 2012–a level almost as high as in 1929…. The increase in wealth concentration is due to the surge of top incomes combined with an increase in saving rate inequality…. Monday, November 30, 12:10–1:00 Room 105, GSPP (Corner of Hearst and LeRoy, across from Cory Hall.)