U.S. Business: The Rising Class

Salaried executives—those French-cuffed "hired hands" of U.S. business—now outnumber self-employed professionals and businessmen on the higher income-tax rungs. The Bureau of the Census last week reported that the families of managers and salaried professionals now account for about half of those in the top 5% of U.S. incomes, while the self-employed account for only a fourth—an almost exact reversal of the situation in 1950. To be in the top 5% took a $9,000 income then; now it takes more than $14,385.

This remarkable turnabout in U.S. income patterns is largely the result of the postwar growth of large corporations and their...

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