Over at “Just One Minute.”
The notion that income inequality is on the rise is pervasive, reinforced by the recent Congressional Budget Office report on income distribution.
…the distribution of income in the U.S. is basically the same as it was a quarter-century ago—and the middle class has gained ground over the last decade.
The CBO report only goes through 2007, despite the fact that it was released in late 2011.
…most of the reported rise in income disparity since 1979 had already occurred by 1986, and there has been no significant trend since then.