According to a new California Budget & Policy Center report:
“Most Californians live in an area where the top 1 percent has captured most, and in some cases all, of the income gains made since 1989. The highest-income households are doing especially well in regions that have seen substantial economic gains in recent decades, such as the San Francisco Bay Area. These regions have seen the most robust income growth overall, but their gains have been heavily concentrated among the top 1 percent.”
Citing the report, Martin Espinoza, of The Press Democrat writes, “The top 1 percent of households in Sonoma County saw their average annual income rise 40.8 percent between 1989 and 2013, while the remaining 99 percent of households saw their average incomes decline 10.4 percent during the same period.”
Table from the California Budget & Policy Center February 2016 Issue Brief, The Growth of Top Incomes Across California.
