Little Growth in Income Except for Those at the Top
Day 4 of a 5-Day Series on Income Inequality in Wisconsin
Top earners in Wisconsin have seen enormous growth in incomes since the mid-1990s, while most Wisconsinites have experienced a decline in their incomes.
The difference in income trends between top earners and the rest of Wisconsinites is stark. The incomes of the top 1 percent of Wisconsin earners soared to more than $764,000 per tax return in 2010, a gain of 28 percent since 1996. Over that same period, the bottom 80 percent of earners experienced a three percent decline in their income per return, to $24,800, as shown in the chart below.
The trend of flat or declining incomes for many Wisconsinites is confirmed by new figures released yesterday from the Census Bureau. Median family income in Wisconsin was about $52,000 in 2010-11, down 10.7 percent, or more than $6,000, from 2000-01 when adjusted for inflation. WCCF’s press release on the new income figures and other figures can be found here.