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Politics : View from the Center and Left

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To: Bread Upon The Water who wrote (197720)	8/19/2012 11:24:28 PM
From: Wharf Rat	Read Replies (2) of 541196

"The middle class needs to contribute in some manner also with our taxes proportionate to our ability to do so." Our ability to contribute hasn't changed much since about when I entered the work force in '73. The share of after-tax household income going to the highest income quintile grew from 43 percent in 1979 to 53 percent in 2007. (Each quintile contains one-fifth of the population, ranked by adjusted household income.) The share of after-tax household income for the 1 percent of the population with the highest income more than doubled, climbing from nearly 8 percent in 1979 to 17 percent in 2007. The population in the lowest income quintile received about 7 percent of after-tax household income in 1979; by 2007, their share of after-tax income fell to about 5 percent. The middle three income quintiles all saw their shares of after-tax income decline by 2 to 3 percentage points between 1979 and 2007. http://www.declineoftheempire.com/2011/10/trends-in-the-distribution-of-income.html

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