Table 2.11
Effect of the shift from labor to capital income on the top 1 percent of households, selected years, 1979–2007 (2011 dollars)
| Row | 1979 | 1989 | 1995 | 2000 | 2007 | |
|---|---|---|---|---|---|---|
| 1 | Total capital income (billions) | $611,633 | $965,322 | $878,675 | $1,593,798 | $2,008,466 |
| 2 | Top 1 percent capital income (billions) | $242,550 | $433,743 | $414,063 | $902,701 | $1,323,836 |
| 3 | Top 1 percent’s share of capital income | 39.7% | 44.9% | 47.1% | 56.6% | 65.9% |
| 4 | Total household income (billions) | $5,139,775 | $6,703,622 | $7,446,395 | $9,659,379 | $11,220,480 |
| 5 | Top 1 percent household income (billions) | $495,000 | $857,200 | $918,100 | $1,706,430 | $2,247,600 |
| 6 | Top 1 percent’s share of total household income | 9.6% | 12.8% | 12.3% | 17.7% | 20.0% |
| 7 | Capital income as a share of total household income (“capital share”) | 11.9% | 14.4% | 11.8% | 16.5% | 17.9% |
| Counterfactual income, if 1979 capital share (11.9%) is held constant | ||||||
| 8 | Counterfactual top 1 percent household income (billions) | $495,000 | $794,265 | $921,038 | $1,499,045 | $1,871,366 |
| 9 | Counterfactual top 1 percent share of total household income | 9.6% | 11.8% | 12.4% | 15.5% | 16.7% |
Source: Authors' analysis of Congressional Budget Office (2010a)
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