The Rich get Richer and All is Well with the World

This graph is from a Congressional Budget Office (CBO) site titled "Trends in the Distribution of Household Income between 1979 and 2007". Here are a few observations that they make about these statistics:

CBO finds that, between 1979 and 2007, income grew by:

• 275 percent for the top 1 percent of households,
• 65 percent for the next 19 percent,
• Just under 40 percent for the next 60 percent, and
• 18 percent for the bottom 20 percent.

The share of income going to higher-income households rose, while the share going to lower-income households fell.

• The top fifth of the population saw a 10-percentage-point increase
  in their share of after-tax income.
• Most of that growth went to the top 1 percent of the population.
• All other groups saw their shares decline by 2 to 3 percentage points.

Some will say that the CBO promotes class warfare. Maybe these statistics reflect a war.