View: Shares of Income After Transfers and Federal Taxes, 1979 and 2007

Shares of Income After Transfers and Federal Taxes, 1979 and 2007

After-Tax Income Grew More for Highest-Income Households -- CBO finds that, between 1979 and 2007, income grew by: 275 percent for the top 1 percent of households... other groups saw their shares (of income) decline by 2 to 3 percentage points 

After-tax income for the highest-income households grew more than it did for any other group. (After-tax income is income after federal taxes have been deducted and government transfers—which are payments to people through such programs as Social Security and Unemployment Insurance—have been added.)

Image added from cbo.gov/publication/42729
Shares of Income After Transfers and Federal Taxes, 1979 and 2007

Comments

Buck SweetBuck Sweet
What percentage of income are the top 1% entitled too? 7/21/12
jaejae
And how much taxes do they have to pay in relation to the other tax brackets? 7/22/12
sanrafaelsanrafael
These comments are pertinent questions, but I would like to ask: what is sustainable for a nation? If the ultra wealthy, through greater sophistcation and resources, can keep taking more and more, how long can that last? I can easily take everything my children have and even make them feel good about it, but is that moral or sustainable in terms of the health of my family? 8/5/12
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