Top ‘one percenters’ in Arkansas take home $750,000 annually, 21 times higher than remaining 99%

The average Arkansan would have to increase his annual income by more than $710,000 to be included among the state’s so-called “one percenters,” according to a new report by the left-leaning Economic Policy Institute in Washington, D.C.

The recently released report says the average Arkansas top one percent takes home more than $750,000 annually, which represents 17% of all income in Arkansas. The remaining 99% of the state’s wage earners see an average annual income of $36,400, which is nearly 21 times less than the top income bracket.

Still, even with the billionaire influence of the Walton, Stephens, Tyson and Murphy families, Arkansas wealthiest wage earners make far less on average than the remaining one percenters across the U.S, whose annual income comes in at $1,153,293.

The interactive EPI report, called “Income Inequality in the U.S.,” also shows that the spread between the wealthiest and poorest wage earnings has risen in every state since the 1970s and in many states is up in the post–Great Recession era. In 24 states, the top one percent captured at least half of all income growth between 2009 and 2013, and in 15 of those states, one percenters captured all income growth.

In another 10 states, the top income bracket rose to double digits, while the bottom 99-percenters’ incomes fell. For the United States overall, the top one percent captured 85.1% of total income growth between 2009 and 2013. In 2013, the nation’s wealthiest families made 25.3 times as much as the bottom 99 percent.

The paper was written by Mark Price, an economist at the Keystone Research Center in Harrisburg, Penn. and Estelle Sommeiller, a socio-economist at the Institute for Research in Economic and Social Sciences in Greater Paris, France.

STATE-BY-STATE, COUNTY-BY-COUNTY
In their examination of so-called “income inequality” throughout the country, Price and Sommeiller examine the incomes of the top one percent and the bottom 99 percent by state and, for the first time, by metropolitan area and county. The authors detail the average incomes of the top one percent, the income required to be in the top one percent, and the gap between the top one percent and the bottom 99 percent in every county and state as well as in 91 metropolitan areas.

“Rising inequality is not a new phenomenon, and it’s not confined to large urban areas or financial centers,” said Price. “It’s a persistent problem throughout the country—in big cities and small towns, in all 50 states. In the face of this national problem, we need national policy solutions to jumpstart wage growth for the vast majority.”

“The degree of income inequality differs from one city to another, but the underlying forces are clear. Inequality isn’t a regional issue. It’s the result of intentional policy decisions to shift bargaining power away from working people and towards the top one percent,” said Sommeiller. “To reverse this, we should enact policies that boost worker’s ability to bargain for higher wages, rein in the salaries of CEOs and the financial sector, and prioritize full employment.”

Although EPI describes itself as a non-partisan think tank, it is affiliated with the nation’s labor movement and usually presents a liberal viewpoint on public policy issues.

Here are some other highlights of the EPI report:

· By metro area, Fayetteville-Springdale-Rogers is the most unequal metro area in Arkansas with an average income of the top 1% of $1,594,106. The average income of the bottom 99% is $48,151.
· Benton County has the widest income spread in Arkansas with the top 1% there making 42.9 times more than the bottom 99%. Average income of the top 1% in Benton County is $2,539,939, while the mean income of the bottom 99% is $59,161.
· Arkansas ranks 17th out of the 50 states in income inequality, based on the ratio of top 1% to bottom 99% income.

To see the full report, click here, or go here for the interactive income report on Arkansas.