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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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