Sunday, September 14, 2008
Median Income Share Clearly Dropped
First, Census table shows per capita income (comparing apples to apples now) increased 100% from 1967 through 2007).
Census mean family income quintiles table show:
5th quintile mean grew 22.4% over the same span;
4th grew 31.4%;
3rd mean (effectively median) grew 47.3%;
2nd grew 64.6%;
1st (w/o adjusting for top coding) grew 95.8%.
If you play my little top coding adjustment game using per capita income for your overall growth gauge—as described above:
1st quintile income grew 175.4%. (I mis-remembered above that my adjustment supposedly doubled top quintile income—rather it approaches doubling income growth.)
From: 09.14.08 at 6:36 pm on Crooked Timber