Ho Ho Ho

HO HO HO….The CBO released its latest data series on income inequality yesterday (PDF here, Excel spreadsheet here), and the news was pretty much what you’d expect: the rich are still getting richer a lot faster than anyone else. I was going to make a chart showing just how much faster they were piling up the goodies than the rest of us, but I got lazy and didn’t do it. However, Matt Yglesias, who has recently decided to challenge me in the small but lucrative niche of chartblogging, has the goods here for the years 2003-2005. However, it looks pretty much the same if you look at the numbers for the past decade, or the past two decades, or the past three decades. For the rich, income is up and tax rates are down. For the rest of us, income is close to stagnant. Too bad we don’t have a whole political party to look after our welfare just like the rich folks do, eh?