For those who contend that the Occupy Wall Street protesters are in the wrong place, the data seems to back up their focus on New York. Among the much-reviled "1%," 13% of them live in the New York metropolitan area, and 4.4% of them live in Manhattan. According to the Times, more than 11% of the households the Upper East Side, Upper West Side and Greenwich Village qualify as members of the 1%.
The paper also notes that while the wealthy held a greater percentage of wealth just before the Great Depression, it's because the economy itself was smaller. Branko Milanovic, the lead economist for the World Bank's research group says, "If you compare Rockefeller's incomeand the average income in the United States, then the gap was even greater in those days…though, the overall distribution of income is about the same as now in terms of inequality—very high."
Most telling: in 1913, the first year of the federal income tax, the top 0.1% made 8.6% of the nation's total income. In 2007, they made 12.3%. But if we don't vote for 9-9-9 or a Flat Tax, they'll never make it 20%!