INCOME inequality is a hot topic in politics and economics. The rising economic tide is lifting a bunch of yachts, but leaving those in simple boats just bobbing along.

Two professors — Thomas Piketty of the Paris School of Economics and Emmanuel Saez of the University of California, Berkeley — have found that the share of gross personal income of the top 1 percent of American earners rose to 17.4 percent in 2005 from 8.2 percent in 1980.

See also, CEOs' compensation can significantly impact shareholder value:

Anger among investors has intensified in recent years as executive pay has escalated. One reason for the growing fury, according to corporate governance advocates: Compensation increasingly is taking a noticeable slice out of corporate profits.

Last year, among the state's top 100 companies, the typical CEO's pay amounted to 2% of net income, The Times found in its annual report on executive compensation in California.

Income Inequality, Writ Larger