CBO: Incomes of Top Earners Grow at a Pace Far Faster Than Everyone Else’s

Publication: The Washington Post

Author: Peter Whoriskey


10/26/2011 - As Occupy Wall Street and related protests inject themselves into the 2012 presidential campaigns, a new government report shows that over the past three decades the incomes of the nation’s top earners have grown far more rapidly than those of everyone else.

The nation’s economic gains have been increasingly concentrated in the households of the top 1 percent, according to the Congressional Budget Office, echoing previous studies cited by Occupy Wall Street protesters.

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“The amount of growth of the top 1 percent is shocking,” said Erin Currier, project manager with the Pew Charitable Trusts’ Economic Mobility Project. “But the piece that is missing is income mobility, and what we see there does not reflect the American dream. We’re not seeing equality of opportunity.”

Read the article CBO: Incomes of Top Earners Grow at a Pace Far Faster Than Everyone Else’s in its entirety on the Washington Post Web site.

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