The 1% nearly triple their income, CBO says

October 27, 2011 by siteadmin
Filed under: Class Warfare 

October 25, 2011, 4:09 PM, MarketWatch.com

More fuel for the Occupy Wall Street protests: “The distribution of after-tax household income in the United States was substantially more unequal in 2007 than in 1979,” the Congressional Budget Office said Tuesday in a special report. Read the CBO’s analysis of income inequality.

The top 1% of households more than doubled their share of national income in the years between 1979 and 2007, as their real (inflation-adjusted) incomes increased by an astonishing 275%, the CBO reported.

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