Wednesday, October 26, 2011
Has your income tripled in the last 30 years
If it has you are probably a 1%er. If you are one of the rest of us, well,
The nation’s richest citizens almost tripled their incomes between 1979 and 2007 as the inequality of the distribution of wealth in the United States expanded, according to a new government report.Had enough, yet?
The top 1 percent saw their inflation-adjusted, after-tax earnings grow by 275 percent during that period, according to the nonpartisan Congressional Budget Office.
Those at the other end of the spectrum, whose earnings put them in the bottom 20 percent of incomes, saw an 18 percent increase. The average increase for all households was 62 percent, the report said.
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