Labor & Economic News Blog

Friday, April 17, 2009

Income Gaps Hit Record Levels In 2006, New Data Show

Income Gaps Hit Record Levels In 2006, New Data Show
New data from the Congressional Budget Office (CBO) show that in 2006, the top 1 percent of households had a larger share of the nation’s after-tax income, and the middle and bottom fifths of households had smaller shares, than in any year since 1979, the first year the CBO data cover. As a result, the gaps in after-tax incomes between households in the top 1 percent and those in the middle and bottom fifths were the widest on record. The data reveal starkly uneven income growth over …

 



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