Percentage gains in after-tax income from 2003 to 2005:
Bottom quintile: 2%
Next quintile: 2.4%
Middle quintile: 3.9%
Fourth quintile: 3.7%
Top quintile: 16%
Top 10%: 20.9%
Top 5%: 27.7%
Top 1%: 43.5%
According to Krugman’s analysis of the CBO’s Historical Effective Federal Tax Rates report released recently.
It was a boom, all right — but only for a few people.
Yup.
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