Income Gaps Between Very Rich and Everyone Else More Than Tripled In Last Three Decades, New Data Show

By Arloc Sherman and Chad Stone

“The gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest fifths of the country more than tripled between 1979 and 2007 (the period for which these data are available), according to data the Congressional Budget Office (CBO) issued last week. Taken together with prior research, the new data suggest greater income concentration at the top of the income scale than at any time since 1928.”

View the full report:
http://www.cbpp.org/cms/index.cfm?fa=view&id=3220

http://www.cbpp.org/files/6-25-10inc.pdf 7pp.

[Source: electronic communication from CBPP June 25, 2010]