One Hundred Percent of Income Gains Have Gone to the Richest Washingtonians in Economic “Recovery”

A new report released yesterday shows that income inequality not only remains a problem in Washington state – it is getting worse. From 2009 to 2012, all of the income gains experienced in the economic recovery have gone to the richest 1 percent of Washingtonians.

Washington is one of 16 states where income gains flowed entirely to the top 1 percent, while the bottom 99 percent experienced income declines. The result is a lopsided national and state economy, where the average income of the richest 1 percent ($1.2 million) is 27 times greater than the average income of the entire bottom 99 percent combined ($47,500).