Top Earners Nearly Triple Income

    Businessmen walk past tents at a second demonstration campsite formed on Saturday by supporters of the Occupy London Stock Exchange group in Finsbury Square, London, Tuesday, Oct. 25, 2011.  The Occupy protests over economic inequality have spread from a single camp in New York City to cities across the United States, Europe and Asia since mid-September.  (AP Photo/Matt Dunham)

    Matt Dunham / AP Photos

    Things are looking pretty good for the richest 1 percent of Americans. A new report by the Congressional Budget Office reveals that their after-tax income increased 275 percent in the past 30 years, compared with a 65 percent increase for the top 20 percent and an 18 percent growth in income for the poorest fifth of the population. The report, based on data from the IRS and the U.S. Census Bureau, blames the widening income gap on the decline in government action to redistribute wealth and an unprecedented increase in executive compensation.

    Read it at New York Times