Obama's first failed appointment

[TheMercenary]

Originally Posted by Redux

CBO has interesting data on the growing income gap in a report this month.

Some figures from one chart on the average after tax income over the last 25+ years (pdf)

the lowest fifth increased from $14,900 to $16,500 from 1979 to 1986 - 11% increase
the second fifth increased from $30,100 to 35,400 from '79 to '86 - 18% increase
the top fifth increased from $98,900 to $184,400 from '79 to '86 - 87% increase
the top 1% increased from $337,100 to $1,200,300 - 256% increase

Pretty much explains why I support a progressive income tax....and I still aspire to the top tier...even if it means paying a higher percentage marginal tax rate. (not that I expect to make that top 1%)

More: http://www.cbo.gov/publications/coll...stribution.cfm

From your chart:

Comprehensive household income equals pretax cash income plus income from other sources. Pretax cash income is the sum of
wages, salaries, self-employment income, rents, taxable and nontaxable interest, dividends, realized capital gains, cash transfer
payments, and retirement benefits plus taxes paid by businesses (corporate income taxes and the employer's share of Social
Security, Medicare, and federal unemployment insurance payroll taxes) and employee contributions to 401(k) retirement plans. Other
sources of income include all in-kind benefits (Medicare, Medicaid, employer-paid health insurance premiums, food stamps, school
lunches and breakfasts, housing assistance, and energy assistance).

That is a lot of different souces of "income" which most people would not include as income. So it sort of scews the results as being less than accurate IMHO.