The top 1% got 121% (!) of the gains from the recovery. | #ows

[maxomai]

So...how did the top 1% do after the 2008 crisis? Emmanuel Saez of UC Berkeley lays it out for us:

From 2009 to 2011, average real income per family grew modestly by 1.7% (Table 1) but the gains were very uneven. Top 1% incomes grew by 11.2% while bottom 99% incomes shrunk by 0.4%. Hence, the top 1% captured 121% of the income gains in the first two years of the recovery. From 2009 to 2010, top 1% grew fast and then stagnated from 2010 to 2011. Bottom 99% stagnated both from 2009 to 2010 and from 2010 to 2011.

Wait...what was that again?

Top 1% incomes grew by 11.2% while bottom 99% incomes shrunk by 0.4%. Hence, the top 1% captured 121% of the income gains..

Now, because the bottom 99% number is so close to zero, we would be well to heed Saez's warning:

The exact percentage 121% is sensitive to measurement error, especially the growth in the total number of families from 2009 to 2011, estimated from the Current Population Survey.
However, the conclusion that most of the gains from economic growth was captured by the top 1% is not in doubt.

Surely, we're feeling this in our lives right now. Why aren't people more pissed about this?