Fact Check: The top 1 percent increased its share of income from 13 percent to over 25 percent.

Fact Check: "The top 1 percent increased its share of income from 13 percent to over 25 percent."

What We Know

The claim that the top 1 percent increased its share of income from 13 percent to over 25 percent is partially supported by data on income distribution in the United States. According to the Economic Policy Institute (EPI), the share of income earned by the top 1 percent rose from approximately 7.3 percent in 1979 to about 13.2 percent in 2019, indicating a significant increase but not reaching the claimed 25 percent threshold (EPI).

Moreover, the top 0.1 percent experienced even more dramatic growth, increasing their share from 1.6 percent in 1979 to 5.0 percent in 2019, which contributes to the overall increase in income concentration among the highest earners (EPI).

The claim may also refer to broader measures of wealth or income that include various forms of income beyond wages, but the specific figure of over 25 percent does not align with the data presented for the top 1 percent's share of total income.

Analysis

The assertion that the top 1 percent's income share increased to over 25 percent lacks direct support from the most reliable sources. The EPI's analysis indicates that while the top 1 percent's share of income has indeed increased significantly, it only reached 13.2 percent by 2019, not the 25 percent claimed. This discrepancy suggests that the claim may be an exaggeration or misinterpretation of the data (EPI).

Additionally, the context of income inequality in the U.S. is complex. The top 1 percent has seen substantial wage growth—160.3 percent from 1979 to 2019—while the bottom 90 percent experienced only a 26 percent increase in wages during the same period (EPI). This pattern of income redistribution is critical to understanding the dynamics of wealth concentration, as it highlights the growing disparity between the highest earners and the rest of the population.

While the claim may reflect a broader narrative about income inequality, it is essential to rely on specific and accurate data when making such assertions. The sources used in this analysis, particularly the EPI, are credible and well-regarded in the field of economic research, providing a solid foundation for understanding income trends (EPI, EPI).

Conclusion

Verdict: Partially True
The claim that the top 1 percent increased its share of income from 13 percent to over 25 percent is partially true in that it acknowledges the significant increase in income share among the top earners. However, the specific figure of over 25 percent is not supported by current data, which shows an increase to approximately 13.2 percent by 2019. Thus, while the trend of increasing income concentration is accurate, the exact figures cited in the claim are misleading.

Fact Check: The top 1 percent increased its share of income from 13 percent to over 25 percent.