The richest 1 percent of Americans have seen their average income jump more than 270 percent over the past five decades. Meanwhile, the average income of the least wealthy 90 percent of Americans grew an anemic 22 percent during that time. (Those figures are based on inflation-adjusted real dollars.)
So how much would you be earning today if the phenomenal income growth at the very top of the income scale had trickled down to most Americans? Use this calculator to find out.
In other words, if you’re in the bottom 90 percent of earners, your current income would be an estimated 205 percent higher if the vast majority of incomes had kept up with the gains experienced by the superwealthy.
At the lowest end of the bottom 90 percent, the difference is even more extreme: If the minimum wage had kept up with the 1 percent, it would be nearly 250 percent higher than it is today.
Back in the real world, most Americans’ incomes have stagnated over the past few decades. Meanwhile, top incomes have skyrocketed, leaving middle- and low-income Americans behind and accelerating the growth of the income gap that began opening in the 1980s.
Methodology: The data used to the make this calculator is from the World Top Incomes Database. All income figures used to make the calculator are in 2012 dollars and do not include capital gains. Your hypothetical income is an estimate based on applying the overall change in the average income of the top 1 percent between 1960 and 2012 to the average incomes in 2012 for the bottom 90th, the top 10th to 5th, and top 5th to 1st income percentiles.
Money Bag designed by Roman Trilo-Denysyuk from The Noun Project. Calculator image by DVARG/Shutterstock.