The Congressional Budget Office recently released a report on “Trends in the Distribution of Household Income Between 1979 and 2007.”
Among the highlights:
The top fifth of the population saw a 10-percentage-point increase in their share of after-tax income, with most of that growth going to the top 1 percent of the population.
The bottom 80% saw their shares decline by 2 to 3 percentage points.
Thanks to Kay Christensen for sending me this.