Growing Income Inequality: The Rich Getting Richer, Quicker
by Anthony Sibley (AJ) on Sep 13, 2013 | Views: 128 | Score: 0
| 1970 | 2007 | |
|---|---|---|
| 1st (Bottom) Quintile | 7 | 5 |
| 2nd Quintile | 12 | 9 |
| Middle Quintile | 16 | 14 |
| Fourth Quintile | 22 | 19 |
| 81-99% | 34 | 36 |
| Top 1% | 8 | 17 |
Share of Household Income After Taxes/Transfers
Percentage of Total American Income
Sources:
cbo.gov
Share:
While, as a whole, the top quintile of households’ share-of-income has increased by about 10%, the share of total-market-income received by the top 1% of the population has more than doubled in the last 30 years, from around 8% to over 17%. The remaining quintiles, the lower 80% of American households-by-income, all saw decreases of 2-3% during the same period.