Figure 1: Gini coefficient

0.50 Figure 1: Gini coefficient Gini coefficient 0.45 0.40 0.35 0.30 1940 1950 1960 1970 1980 1990 2000 Source: Kopczuk, Saez, Song QJE'10: Wage earnings inequality Year All Workers Men Women

Top 10% Pre- tax Income Share in the US, 1917-2014 50% Top 10% Income Share 45% 40% 35% 30% 25% 1917 1922 1927 1932 1937 1942 1947 1952 1957 Source: Piketty and Saez, 2003 updated to 2014. Series based on pre-tax cash market income including realized capital gains and excluding government transfers. 1962 1967 1972 1977 1982 1987 1992 1997 2002 2007 2012

25% Decomposing Top 10% into 3 Groups, 1913-2014 Share of total income for each group 20% 15% 10% 5% 0% Top 1% (incomes above $423,000 in 2014) Top 5-1% (incomes between $174,200 and $423,000) Top 10-5% (incomes between $121,400 and $174,200) 1913 1918 1923 1928 1933 1938 1943 1948 1953 1958 1963 1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 Source: Piketty and Saez, 2003 updated to 2014. Series based on pre-tax cash market income including realized capital gains and excluding government transfers.

Top 0.1% US Pre-Tax Income Share, 1913-2014 Top 0.1% Income Share 12% 10% 8% 6% 4% 2% Top 0.1% income share (incomes above $1.9m in 2014) 0% 1913 1918 1923 1928 1933 1938 1943 1948 1953 1958 1963 1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 Source: Piketty and Saez, 2003 updated to 2014. Series based on pre-tax cash market income including or excluding realized capital gains, and always excluding government transfers.

70,000 Real average national income: Full adult population vs. bottom 90% Average income in constant 2012 dollars 60,000 50,000 40,000 30,000 20,000 10,000 2.0% 2.0% All adults 1.4% Bottom 90% adults 0.7% 0 1946 1950 1954 1958 1962 1966 1970 1974 1978 Real values are obtained by using the national income deflator and expressed in 2012 dollars. Source: Appendix Tables XX. 1982 1986 1990 1994 1998 2002 2006 2010 2014

80% 2. Federal Average Tax Rates by Income Groups (individual+corporate+payroll+estate taxes) 70% 60% 50% 40% 30% 20% 10% 0% P0-20 P20-40 P40-60 P60-80 P80-90 P90-95 P95-99 P99-99.5 P99.5-99.9 P99.9-99.99 P99.99-100 1970 2000 2005 Source: Piketty and Saez JEP'07

60% 2A. Tax revenue/gdp in the US, UK, and Sweden Total Tax Revenue/GDP 50% 40% 30% 20% 10% United States United Kingdom Sweden 0% 1868 1878 1888 1898 1908 1918 1928 1938 1948 1958 1968 1978 1988 1998 2008 Source: Kleven-Kreiner-Saez NBER WP 2009

60% Figure 13.1. Tax revenues in rich countries, 1870-2010 Total tax revenues (% national income) 50% 40% 30% 20% 10% Sweden France U.K. U.S., 0% 1870 1890 1910 1930 1950 1970 1990 2010 Total tax revenues were less than 10% of national income in rich countries until 1900-1910; they represent between 30% and 55% of national income in 2000-2010. Sources and series: see piketty.pse.ens.fr/capital21c. Source: Piketty (2014)

40% Figure 12: Capital shares in factor-price national income 1975-2010 35% 30% 25% 20% 15% USA Japan Germany France UK Canada Australia Italy 10% 1975 1980 1985 1990 1995 2000 2005 2010 Source: Piketty and Zucman (2014)

800% Figure 5.1. Private and public capital: Europe and America, 1870-2010 700% Value of private and public capital (% national income) 600% 500% 400% 300% 200% 100% 0% Private capital Public capital United States Europe -100% 1870 1890 1910 1930 1950 1970 1990 2010 The fluctuations of national capital in the long run correspond mostly to the fluctuations of private capital (both in Europe and in the U.S.). Sources and series: see piketty.pse.ens.fr/capital21c. Source: Piketty (2014)

A. Mean Child Income Rank vs. Parent Income Rank in the U.S. Mean Child Income Rank 20 30 40 50 60 70 Rank-Rank Slope (U.S) = 0.341 (0.0003) 0 10 20 30 40 50 60 70 80 90 100 Parent Income Rank Source: Chetty, Hendren, Kline, Saez (2014)

B. United States vs. Denmark Mean Child Income Rank 20 30 40 50 60 70 Rank-Rank Slope (Denmark) = 0.180 (0.0063) 0 10 20 30 40 50 60 70 80 90 100 Parent Income Rank Denmark United States Source: Chetty, Hendren, Kline, Saez (2014)

Source: Chetty et al. (2014) The American Dream? Probability that a child born to parents in the bottom fifth of the income distribution reaches the top fifth: USA Chetty, Hendren, Kline, Saez 2014 7.5% UK Blanden and Machin 2008 9.0% Denmark Boserup, Kopczuk, and Kreiner 2013 11.7% Canada Corak and Heisz 1999 13.5% à Chances of achieving the American Dream are almost two times higher in Canada than in the U.S.

Source: Chetty et al. (2014) The Geography of Upward Mobility in the United States Probability of Reaching the Top Fifth Starting from the Bottom Fifth US average 7.5% [kids born 1980-2] Note: Lighter Color = More Upward Mobility Download Statistics for Your Area at www.equality-of-opportunity.org

Source: Chetty et al. (2014) The Geography of Upward Mobility in the United States Odds of Reaching the Top Fifth Starting from the Bottom Fifth US average 7.5% [kids born 1980-2] Indianapolis 4.9% Santa Rosa 10.0% SF 12.2% SJ 12.9% SB 11.3% LA 9.6% San Diego 10.4% Sacramento 9.7% Modesto 9.4% Fresno 7.5% Bakersfield 12.2% Washington DC 11.0% Charlotte 4.4% Atlanta 4.5% Note: Lighter Color = More Upward Mobility Download Statistics for Your Area at www.equality-of-opportunity.org

Table 1. Upward Mobility in the 50 Largest Metro Areas: The Top 10 and Bottom 10 Rank Commuting Zone Odds of Reaching Top Fifth from Bottom Fifth Rank Commuting Zone Odds of Reaching Top Fifth from Bottom Fifth 1 San Jose, CA 12.9% 41 Cleveland, OH 5.1% 2 San Francisco, CA 12.2% 42 St. Louis, MO 5.1% 3 Washington, D.C. 11.0% 43 Raleigh, NC 5.0% 4 Seattle, WA 10.9% 44 Jacksonville, FL 4.9% 5 Salt Lake City, UT 10.8% 45 Columbus, OH 4.9% 6 New York, NY 10.5% 46 Indianapolis, IN 4.9% 7 Boston, MA 10.5% 47 Dayton, OH 4.9% 8 San Diego, CA 10.4% 48 Atlanta, GA 4.5% 9 Newark, NJ 10.2% 49 Milwaukee, WI 4.5% 10 Manchester, NH 10.0% 50 Charlotte, NC 4.4% Note: This table reports selected statistics from a sample of the 50 largest commuting zones (CZs) according to their populations in the 2000 Census. The columns report the percentage of children whose family income is in the top quintile of the national distribution of child family income conditional on having parent family income in the bottom quintile of the parental national income distribution these probabilities are taken from Online Data Table VI of Chetty et al., 2014a. Source: Chetty et al., 2014a.

90% Top 10% wealth share in the United States, 1917-2012 85% % of total household wealth 80% 75% 70% Capitalized income SCF 65% 60% 1917 1922 1927 1932 1937 1942 1947 1952 1957 1962 The figure depicts the share of total household wealth owned by the top 10%, obained by capitalizing income tax returns versus in the Survey of Consumer Finances. The unit of analysis is the familly. Source: Appendix Tables B1 and C4. 1967 1972 1977 1982 1987 1992 1997 2002 2007 2012

25% Top 0.1% wealth share in the United States, 1913-2012 20% % of total household wealth 15% 10% 5% 0% 1913 1918 1923 1928 1933 1938 1943 1948 1953 1958 1963 1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 This figure depicts the share of total household wealth held by the 0.1% richest families, as estimated by capitalizing income tax returns. In 2012, the top 0.1% includes about 160,000 families with net wealth above $20.6 million. Source: Appendix Table B1.

35% Figure A6: The composition of capital income in the U.S., (details) 30% % of factor-price national income 25% 20% 15% 10% 5% Corporate profits Noncorporate business profits Profits & interest paid to pensions 0% 1913 1918 1923 1928 1933 1938 1943 1948 1953 1958 1963 1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 Net interest Housing rents (net of mortgages)