Income inequality in the US between 2000 and 2012 has been worsened particularly by the rising resources accrued by the top 0.01% of earners, a group of 12,000 households making over $7.2 million a year, a research paper published by the Federal Reserve Bank of Minneapolis finds.

In Top Income Inequality in the 21^st Century: Some Cautionary Notes, Fatih Guvenen and Greg Kaplan find that the “increase in top shares is primarily due to an increase in average incomes at the very top, above the 99