Sunday, January 5, 2014

Trends in income in the USA. More and more and more and more go to the RICH 1%!!!!!!

The CBO has come out with a report.  Go here for the full story. Trends in the Distribution of Household Income Between 1979 and 2007

After-Tax Income Grew More for Highest-Income Households

After-tax income for the highest-income households grew more than it did for any other group. (After-tax income is income after federal taxes have been deducted and government transfers—which are payments to people through such programs as Social Security and Unemployment Insurance—have been added.)
CBO finds that, between 1979 and 2007, income grew by:
  • 275 percent for the top 1 percent of households,
  • 65 percent for the next 19 percent,
  • Just under 40 percent for the next 60 percent, and
  • 18 percent for the bottom 20 percent.