As Zingales points out, income stratification isnâ??t driven by those at the far right end of the curve. If you plot the distribution of income and cut off the 1 percent with the highest incomes -- if we assume that they donâ??t exist -- the curve doesnâ??t really change. (Try it, or look here.)
The bunching is below the median. If income inequality is a problem, that is where the problem exists -- not in the few that lie on the far right tail, but in the many who lie on the far left tail.
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