Muck tracker - Rich got richer, CBO finds

By Muckety

October 26, 2011 at 7:40am

After-tax income nearly quadrupled for the top 1 percent of households over the last three decades, according to a report by the Congressional Budget Office

The CBO studied income from 1979 to 2007 and found that it increased by 275 percent for the upper crust, and at much lower rates for lower-income households.

Growth rates for income levels, according to the report:

  • 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
  • 18 percent for the bottom 20 percent
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