US report: Income of top 1 percent far outgrew others

By REUTERS
October 26, 2011 04:18

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

WASHINGTON - Incomes for the wealthiest 1 percent of Americans nearly tripled from 1979 to 2007, far outpacing income growth for all other groups, said a new report that underscored sharply increased US income disparity.

As demonstrators nationwide protest the power of Wall Street and the wealthy, the Congressional Budget Office on Tuesday gave further evidence that, in the last three decades, the United States has become a far more unequal nation.

"For the 1 percent of the population with the highest income, average real after-tax household income grew by 275 percent between 1979 and 2007," said the report from the CBO, a nonpartisan budget and tax analysis arm of Congress.

The next-highest 19 percent of earners saw their income grow by 65 percent over the same period. Income grew by just under 40 percent for the 60 percent of the population in the middle, while the 20 percent at the bottom of the scale saw income growth of only about 18 percent, the report said.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
October 21, 2018
Russia: U.S. withdrawal from nuclear treaty is a dangerous step

By REUTERS