Income Study: Rich Get A Lot Richer, Outpace Middle Class

A government study finds that the richest 1 percent of Americans have been getting far richer over the last three decades.

At the same time, the middle class and poor have seen their after-tax household income only crawl up in comparison.

The study comes from the Congressional Budget Office and is based on IRS and Census Bureau data.

It finds that after-tax income for the top 1 percent of U.S. households almost tripled, up 275 percent, from 1979 to 2007. For people in the middle of the economic scale, after-tax income grew by just 40 percent.

Those in the bottom 20 percent, the poor, experienced an 18 percent increase.

The Occupy Wall Street movement protests the gap between the haves and have-nots. Demonstrators call themselves "the 99 percent."

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Anonymous on Oct 27, 2011 at 04:30 PM
    There are more 99%ers on this site than they realize. People Wake UP!!!!
  • by Where is it going? Location: enc on Oct 27, 2011 at 06:30 AM
    Want to know why gas cost more? Look at profits! Exxon profits went up 41%!! The only reason gas went up is to increase their profits! Of course, they used lower production as an excuse, but that is ALL it was-an excuse to make more profit!!
    • reply
      by Boats on Oct 27, 2011 at 07:01 AM in reply to Where is it going?
      And then there are the profiteering speculators on Wall Street. You know the ones, the bankers that are allowed to "invest" in commodities with no intention of ever taking delivery of the commodities they purchase. On average, ownership of every barrel of oil (and RBOB gasoline for that matter) changes hands approx. 27 times before it's actually consumed. In the middle, between the producer and the consurem is the profiteering speculator.
    • reply
      by Bloke on Oct 27, 2011 at 07:40 AM in reply to Where is it going?
      Simple fix: Open up the moratorium on offshore drilling and produce our own. Craete thousands of jobs around the country and lower the price of fuel for everyone. Create tax revenue for the dems to throw away.
  • by Jobs Location: enc on Oct 27, 2011 at 06:26 AM
    We can help! Yesterday, I went to walmart-I could not find a single set of plates made in the US. I refuse to buy anything made in China again! I know my meager spending will not make a difference, but if we all start demanding "made in the USA"-that is the way a true "Free Market" works! As consumers, we can demand that these manufacturers come back and give Americans jobs! We can easily see that only money talks to these corporations-they obviously have no allegiance to our country-so hit them in their pocketbook-do NOT BUY goods not made here!!
  • by Another fact Location: enc on Oct 27, 2011 at 06:20 AM
    The US reached it's goal of growth in this last 3rd quarter! Of course, I am sure many of you prefer to take the word of your "buddies" down at the coffee shop instead of the experts, but facts are facts! Obama's policies are working and would work even faster if we can get these obstructionists OUT of the House! To: OSOC-you like polls so much-the new congress has an approval rating of 9%!!!
    • reply
      by Anonymous on Oct 27, 2011 at 04:28 PM in reply to Another fact
      Ha Ha, He wants more of these GOP Clowns in 2012. What an idiot.
  • by Boats Location: Beaufort on Oct 27, 2011 at 05:22 AM
    My feeling is this. If I work hard and earn whatever money I get, why should I be legally required to give any of it to anybody else? Now, if i've had the advantage of some breaks along the way, and earn LOTS of money, why should the question change? Morally obligated to share it, I can understand, but not legally.
  • by UnemployedAndHatingIt! on Oct 27, 2011 at 04:04 AM
    What is up with this middle class mess?Either you got money or you dont!
  • by John Location: Richlands on Oct 27, 2011 at 03:51 AM
    It is another snow job so every one will go out and vote next year. They want every one to feel good about who is in office and keep them selves in a job.
    • reply
      by Charles K on Oct 27, 2011 at 04:33 AM in reply to John
      Income inequality is a snow job? I guess you must be part of the 1% John.
    • reply
      by To John on Oct 27, 2011 at 06:17 AM in reply to John
      Snow job? Any body who needs someone to even tell them this is not paying attention! With corporations posting record profits and the percent of our "wealth" being more and more concentrated into a few people and CEO being paid 100's of millions of dollars-even when they lose money-no one needed to tell me this was happening!
  • by Zzyzx Road Location: Pitt County on Oct 27, 2011 at 03:34 AM
    A GOVERNMENT study. Hmmmm! Makes me suspicious of the motives already. Don't get me wrong, I am definitely not one of the one percent,and far, far from it, but shouldn't the government be concentrating on how many people are REALLY unemployed and find ways of getting them back to work, rather than spewing out this kind of drivel?
    • reply
      by Anonymous on Oct 27, 2011 at 04:02 AM in reply to Zzyzx Road
      It's not the government's job to put people to the constitution please.
      • reply
        by Charles K on Oct 27, 2011 at 04:49 AM in reply to
        What the government can do is create incentives for companies that create jobs and penalties for those who send the jobs overseas.
        • reply
          by To Charles K on Oct 27, 2011 at 06:13 AM in reply to Charles K
          Incentives? What more incentives could there be than a raise if 275% in 10 years? That is an average of a 27% a year! When is some of this going to "trickly down"?
      • reply
        by To anonymous on Oct 27, 2011 at 06:18 AM in reply to
        No, it isn't, but it IS the government's job to prevent a few from passing laws that give an advantage to the wealthy while being "supported" and enriched by wage earners!!!
  • by Barlow Location: Winterville on Oct 27, 2011 at 03:27 AM
    Just telling us what we all know. People who have get. Instead of a "trickle down" there appears to be a flood upward. No society can survive like this forever. The people will demand fairness and the ability to pursue the American dream. People who want to work can no longer find jobs. People who want to go to school can no longer afford it. More and more things that we all used to have access to are being called "luxuries". The protests are spreading and getting louder, and just like in the 60s during Vietnam, the people will continue to demand and eventually get change. The revolution IS being televised.
    • reply
      by WOW on Oct 27, 2011 at 05:19 AM in reply to Barlow
      Barlow, know what "the people" are chanting at the protests. Just do illustrate that they have no real direction the 60s-style chant goes like this: "What do we want? Good question. When do we want it? whenever."
    • reply
      by Bloke on Oct 27, 2011 at 07:37 AM in reply to Barlow
      The protesters don't even know what they are asking for. How many jobs do those people create? How much tax dollars do they pay compared to the people they are protesting against. The problem is not where the money comes from, but how it is spent. They need to reform the spending to an effective means and then fuss about where it comes from. More money will not help the situation if you are just throwing it in the trash as soon as you get it. These people they are protesting against pay more that half of their salaries in taxes. How much do you contribute?
  • by Perry C. on Oct 27, 2011 at 01:41 AM
    How times have changed from just a few months ago. Now we're finally talking seriously about how we can raise taxes on the richest 1%. About time. Seems the talk about cutting their taxes is not so popular anymore, unless you're a Republican presidenti­al candidate who doesn't know he's already lost.
    • reply
      by Bloke on Oct 27, 2011 at 04:37 AM in reply to Perry C.
      The problem is not the taxes on the rich, rather the absence of jobs. I agree that if they have to raise taxes right now, the middle class can't shoulder it, but this will not help the job situation in this country. That is the direct problem right now and the Dems are using it as an excuse to get more tax money from anywhere they can. They have taxed the middle class until they can't muster another dollar. The only other place to do it is the rich. If they can't operate on the huge amount of tax dollars they receive right now then how much is it going to take?
  • Page:

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 132678613 -
Gray Television, Inc.