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New Data Show Income Concentration Rose Again in 2006; Average Income Rose by $73,000 for Households in the Top 1%, Only $20 for Those in Bottom 90%

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Publication Date: March 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Aviva Aron-Dine

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Economics (Property and wealth)

Keywords: Economic projections; Income diversity; Economic inequality; Household income

Type: Report

Abstract:

Economists Thomas Piketty and Emmanuel Saez recently issued an updated version of their groundbreaking data series on income inequality in the United States. The data, which are based on Internal Revenue Service (IRS) files, are unique because they provide detailed information on income gains at the top of the income scale, extend back to 1913, and provide the first detailed look at the distribution of income in 2006.