The gap between the wealthiest Americans and middle- and working-class Americans has more than tripled in the past three decades, according to a June 25 report by the Center on Budget and Policy Priorities.
New data show that the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest parts of the population in 2007 was the highest it’s been in 80 years, while the share of income going to the middle one-fifth of Americans shrank to its lowest level ever.
At Crooks and Liars, I picked up this chart from the published CBPP report. It’s stunning really. It only measures one decade, but the direction is pretty clear. And this is before the Bush tax cuts that mostly benefitted the top 1%. (I’m sure they thought that was really decent of him!)