Updated U.S. Congressional Budget Office data reveal unprecedented increase in inequality.
The U.S. Congressional Budget Office recently updated its authoritative data series on household incomes, 1979-2005. The new data reveal a sharp increase in income inequality over the past few years. The increase in income inequality (both pre- and post-tax), as measured by the change in the shares of income going to different income classes, was greater from 2003 to 2005 than over any other two-year period covered by the CBO data.
Bernstein
Jared
J
Economic Policy Institute, Washington, DC 20005, USA. jbernstein@epi.org
D006801:Humans; D007182:Income / Q000706:statistics & numerical data* / Q000639:trends; D007183:Income Tax / Q000706:statistics & numerical data / Q000639:trends; D011203:Poverty / Q000191:economics / Q000706:statistics & numerical data* / Q000639:trends; D012959:Socioeconomic Factors; D014481:United States