Using data released on June 17, 2010, by the Congressional Budget Office, the Center on Budget and Policy Priorities released a paper entitled “Income Gaps Between Very Rich and Everyone Else More Than Tripled in Last Three Decades, New Data Show.”
The CBO raw data encompass income, taxes, and after-tax income during 1979-2007 segregated by income categories: top 1%, 5%, 10%, 20%, and the four bottom quintiles. The CBPP compiled chartes comparing the top 1% with the highest, middle, and bottom fifths. The plotted lines show the top 1% enjoyed an increase of 281% in after-tax income during 1979-2007, while the other three quintiles recorded 95%, 25%, and 16% respectively.
