The provided line chart illustrates the percentage of income share received by the top 1 percent, including 7 countries, over 40 years starting in 1975.
Generally speaking, the initial rates of the countries were relatively similar to others; however, throughout the period, the data seemed to increase drastically, especially for the United States, and the final rates of some countries remained comparably close, with examples of Canada, Germany, and the United Kingdom.
Initially, the United States’ income share was approximately 8%. Its growth rate increased slowly throughout the first ten years, reaching a high of 13% in 1985. After the acceleration, the United States increased its percentage significantly, reaching a peak of 19% in 2012 before concluding with a 1% decrease in 2015, making it the highest of the seven nations.
When the initial values of the other six nations in 1975 are examined, it is easy to see that Germany’s starting point was different from the other countries’ figures at a considerable 10%, whereas the other countries’ starting points range from 6% to 8%. The UK’s share was simply measured in 1990, and it was 9%. Germany reached its highest point at a startling 15% in 2008, while the UK and Canada remained at the same 14%. Two years later, these three nations appeared to have reached about 13%.
France, which is comparable to Canada at 8%, has by far the greatest start out of the three remaining nations. These rates fluctuated slightly before Italy and Japan both ended their lines at 9% in 2010. After falling by more than 1% as a result, France eventually rose to the same level after a year.