On average, income in Ohio grew 20.4% between 1979 and 2007. Good thing for everybody, right? Not quite. The top 1% snared a disproportionate share of that growth—49.4%. So their massive income growth far eclipsed income growth of the bottom 99%, whose raise was meager when you divide it over three decades.Take a look at the numbers for each state below - anything surprise you about the midwest? What about the coasts?
And unfortunately the Great Recession was no great leveler: Recovery for the bottom 99% has been weak relative to the gains of the top 1%. Thus, the lopsided income growth from 1979 to 2007 extended through 2012. Due to this extended period of lopsided income growth, the share of all income held by the top 1% in recent years has approached or surpassed historical highs.
The upshot of these trends? A lopsided Ohio economy, where top 1% average income is 21 times greater than the average income of the bottom 99%.
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