I think wealth inequality is more significant than income inequality. The people with the top 1% of income can vary considerably from year to year. Those with high income tend to have a much more variable income than those at the low end. Income from sales commissions and investing can vary considerably from year to year.
I also suspect that the wealth of households divided by the number of people in each household is more significant than the wealth of individuals or households. If one measures individuals instead of households then individuals in a household who are supported by one high wealth person are counted as poor.
