Say It Together: Top Incomes Are Being Driven By Capital

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Jonathan Rothwell claims in the NYT that the rise of the top one percent is being driven by the regulation-inflated labor income of high-earners in the health care, finance, and professional services sectors. In reality, since 2000, all of the rise of the top one percent has been driven by capital income not labor income. In fact, labor income for the top one percent actually declined over the last 14 years.