Table 1
Share of Average Income Growth Accounted for by Different Income Groupings
| Top 1 | Top 5 | Top 10 | Bottem 50 | |
|---|---|---|---|---|
| CBO comprehensive incomes | ||||
| 1979–2007 | 34.6% | 49.8% | 59.2% | 40.8% |
| 2007–2009 | 67.2% | 82.0% | 87.0% | 13.0% |
| 2009–2011 | 66.9% | 80.8% | 84.8% | 15.2% |
| 1979–2011 | 35.7% | 59.0% | 75.5% | 24.5% |
| Piketty-Saez cash, market-based incomes | ||||
| 1947–1979 | 7.8% | 21.1% | 34.1% | 65.9% |
| 1979–2007 | 59.8% | 80.9% | 91.4% | 8.6% |
| 2007–2009 | 49.0% | 60.2% | 65.1% | 34.9% |
| 2009–2011 | 135.6% | 170.3% | 171.5% | –71.5% |
| 2009–2012 | 94.8% | 112.5% | 115.7% | –15.7% |
| 1935–1980 | 7.1% | 19.2% | 30.3% | 69.7% |
| 1980–2012 | 74.6% | 103.0% | 116.6% | –16.6% |
Source: Author's analysis based on data from Piketty and Saez (1998, updated) and the Congressional Budget Office (CBO). The Piketty-Saez data only includes cash, market-based incomes, while the CBO data also included non-cash income and government transfer payments. 2007-2009 saw income losses across-the-board. So, the numbers reported here show the share of average income losses accounted for by each group.
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