Matt Yglesias

The Rich Get Richer

New Center on Budget and Policy Priorities analysis by Chye-Ching Huang and Chad Stone shows that the pre-tax share of income going to the top one percent of the income distribution has reached its highest levels since 1928:

Naturally, conservatives think the best way to respond to this would be by reducing the tax burden on the long-suffering super-rich. Recently I’ve been reading Larry Bartels’ recent book on the political economy of the new gilded age in which he argues pretty convincingly that partisan politics has a bigger impact on the pre-tax distribution than many people are inclined to think.