The share of income going to the wealthiest one percent of households more than doubled between 1979 and 2007, from 10 to percent. The concentration is even greater when wealth and assets are included. In 2007, the top five percent of households controlled 37 percent of all income, but 60 percent of all net worth. Even after accounting for taxes and transfers, the incomes of the top one percent (adjusted for inflation) grew 275 percent between 1979 and 2007, while those of the middle class grew less than 40 percent. Partly a result of the very large tax cuts.
