Sample Answer: Share of Income Earned by Top 1 Percent, 1975-2015.
The line graph presented illustrates the proportion of income accrued by the top 1 per cent in seven countries—namely the United States, United Kingdom, Canada, France, Italy, Japan and Germany—over a period spanning from 1975 to 2015.
Overall, there is a noticeable upward trajectory in income share for the top 1 per cent in all countries examined, with the United States exhibiting the most significant increase. At the same time, other nations show comparatively lower rates of growth.\
In 1975, the share of income earned by the top 1 per cent varied among the countries, with Canada and France leading at 8%, followed by the United States at 7%, and all other nations at 4%. By 1985, the United States had ascended to 11%, thus changing its position and expanding its lead. Notably, Canada experienced a gradual increase to 9%. By 1995, the trend continued, with the United States reaching 13%, marking steady growth. The United Kingdom saw a less significant increase to 11% from its initial value of 10% in 1990. In contrast, Canada’s share rose to 10% as well, indicating a pattern of increasing income concentration among the top earners.
The upward trend persisted into the 2005 and 2015 data points, with the United States achieving an income share of 17% in 2005 and 20% by 2015. The United Kingdom and Canada followed a similar trajectory, with their share reaching a peak at 14% in 2010 and then levelling out at 13% in 2015. In contrast, France, Italy, Japan and Germany exhibited more stagnant figures, with France slightly dropping to 6% from the original 8% at the start of the period, Italy and Japan rising somewhat from 4% to 8%, and Germany showing little change from 10% to 12% across both years.