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Federal Tax 2007 W2 Forms

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Federal Tax 2007 W2 Forms Powered By Docstoc
					Revised 3/12/2007
The series constructed in this excel sheet are based primarily on income tax statistics. Full details on the construction of the se
http://emlab.berkeley.edu/users/saez/piketty-saezOUP04US.pdf

Brief explanation of the series

Top groups (such as the top 1%) are defined relative to all families in the US population (irrespective of whether the family files
A family is defined as a tax unit (such as couple and dependents, or a head of household with dependents, or a single person).
A family can be smaller than a household (a household is defined as all individuals living in the same unit such as two roommat
In 2004, there were 143.982 million families in the US population and 132.226 million tax returns filed.

Income is defined as annual gross income reported on individual tax returns excluding capital gains and all government transfe
(such as Social Security, Unemployment Benefits, Welfare Payments, etc.) and before individual income taxes and
employees' payroll taxes.

Tax filers are ranked by income in order to define top groups such as the top 10%, top 5%, .., top 0.01%.
Top income shares are estimated as income accruing to a given top group divided by total personal income in the US economy
For recent years, total personal income is defined as total income reported on tax returns (same definition as above) and assum
(most non filers are retirees with only Social Security income and hence no market income according to our definition).

Top income share series and income levels and thresholds are reported in Table A1 and Table A4.

We also provide top income shares based on:
1) income including capital gains (but ranking families based on income excluding capital gains), Tables A2 and A5.
2) income including capital gains and ranking families based on income including capital gains, Tables A3 and A6.

Because capital gains are such a volatile component and tend to be realized in a lumpy way, we focus primarily on series exclu
Series including capital gains are useful to assess the sensitivity of the results to including capital gains (see Figure A2).

Top wage income share series are based on wage income reported on individual tax returns. Top groups are defined relative to
income. Tax filers are ranked by size of wage income.

Data and updates:

Individual tax statistics data are created and released by the Internal Revenue Service (IRS). Most statistics are available at:
http://www.irs.gov/taxstats/index.html
The timing of data release has been the following in recent years:
1) IRS publishes preliminary statistics for incomes earned in year t in March, year t+2 (displaying # tax filers, income, and comp
2) IRS publishes final statistics for income earned in year t in September, year t+2 (displaying # tax filers, income, and composi
3) IRS releases a large micro dataset of individual tax returns for incomes earned in year t in year t+3 (the most recent data ava

The Social Security Administration (SSA) releases a detailed distribution of individual wage income (based on W2 forms) for ye
http://www.ssa.gov/OACT/COLA/awidevelop.html (top left corner)

WHAT'S NEW: In March 2007, we used the preliminary tabulated IRS statistics to obtain estimates for year 2005.
Estimates for years 2002-2004 are estimated using the final tabulated IRS statistics.
Estimates up to year 2001 are estimated using the more flexible micro-data.
In November 2006, we used SSA tabulations for 2005 to obtain top wage income shares for 2005.


Future updates:
Estimates based on final statistics for year 2005 will be posted in September 2007 when those final data are made available by
 ls on the construction of the series are provided in appendix of Piketty and Saez (2006), available online at:




 ctive of whether the family files an individual tax return).
ependents, or a single person).
same unit such as two roommates, etc.)


ains and all government transfers
 l income taxes and




onal income in the US economy.
e definition as above) and assuming that non filers earn 20% of average income of filers.
 rding to our definition).




, Tables A2 and A5.
Tables A3 and A6.

 focus primarily on series excluding capital gains.
al gains (see Figure A2).

op groups are defined relative to the total number of US families earning positive wage




ost statistics are available at:


g # tax filers, income, and composition of income by AGI brackets up to bracket $200,000+)
tax filers, income, and composition of income by AGI brackets up to bracket $10,000,000+)
ar t+3 (the most recent data available are for 2002).

me (based on W2 forms) for year t in November year t+1 at:


 stimates for year 2005.
nal data are made available by the IRS.
                                           TABLE 1.
                Thresholds and Average Incomes in Top Income Groups in 2005


                                                                                                    Average
    Percentile              Income                                          Number of tax          income in
    threshold              threshold                Income Groups              units              each group
        (1)                    (2)                       (3)                    (4)                   (5)
                                                     Full Population          145,881,000            $46,806
      Median                $27,630                    Bottom 90%             131,292,900            $28,980

    Top 10%                 $96,563                   Top 10-5%                 7,294,050           $110,424
     Top 5%                $130,373                    Top 5-1%                 5,835,240           $176,925
     Top 1%                $310,062                   Top 1-0.5%                 729,405            $370,887
    Top .5%                $452,444                  Top 0.5-0.1%                583,524            $695,764
    Top .1%               $1,289,372                 Top 0.1-0.01%               131,293           $2,316,353
    Top .01%              $5,921,844                  Top 0.01%                   14,588          $14,027,614

Notes: Sources is Table A0 and Table A4, row 2005. Computations based on income tax return statistics.
Income defined as annual gross income reported on tax returns excluding capital gains and all government transfers
(such as Social Security, Unemployment Benefits, Welfare Payments, etc.) and before individual income taxes and
employees' payroll taxes. Amounts are expressed in current 2005 dollars.
Column (2) reports the income thresholds corresponding to each of the percentiles in column (1). For example,
an annual income of at least $96,563 is required to belong to the top 10% tax units, etc.
                     Table 2: Shares of each occupation within the top 1% in 1916

                         Number of tax            Salaried          Independent            Business          Capitalists
     Fractiles              units               Professions         Professions             Owners          and Rentiers
        (1)                  (2)                    (3)                 (4)                   (5)               (6)
    P99-99.5                 198,950                30.5%                19.0%               30.3%             20.2%
   P99.5-99.9                159,160                22.1%                14.0%               35.8%             27.9%
  P99.9-99.99                 35,811                16.2%                 8.0%               39.7%             45.2%
 P99.99-99.999                 3,581                12.0%                 5.1%               42.6%             65.4%
  P99.999-100                   398                  8.0%                 3.1%               33.2%             94.6%

Notes: Computations based on interpolations from Statistics of Income, 1916, Table 6c, pp. 126-137.
Salaried Professions defined as accounting profession (accountants, statisticians, actuaries, etc.), engineers,
clergymen, public service: civil and military, teachers, corporation officials, and all other employees.
Independent professions defined as architects, artists, authors, clergymen, lawyers and judges, medical profession,
theatrical profession, all other professions, profession not stated, commercial travelers, and sportsmen.
Business owners defined as farmers, hotel proprietors and restaurateurs, insurance agents, labor skilled and unskilled,
lumbermen, manufacturers, merchants and dealers, mine owners and operators, saloon keepers, theatrical business
owners, all other business, and business not stated.
Capitalists and Rentiers defined as bankers, real-estate brokers, stock and bond brokers, insurance brokers,
all other brokers, and capitalists: investors and speculators.
                                       Table A0: Reference totals for tax units and income

                     Tax units                  Income (excluding capital gains)   Income (including capital gains)       Inflation
             (1)           (2)          (3)             (4)           (5)                  (6)           (7)                 (8)
Year    N. tax units N. tax returns   (2)/(1)     Total income Average income        Total income Average income             CPI
       (thousands) (thousands)         (%)         (millions $)    (2005 $)           (millions $)    (2005 $)        ( p(2005)/p(n) )
1913      37,701           358          0.9          27,631         14,470              27,631         14,470             19.7428
1914      38,513           358          0.9          27,948         14,143              27,948         14,143             19.4895
1915      39,154           337          0.9          28,974         14,279              28,974         14,279             19.2965
1916      39,790           437          1.1          34,456         15,529              35,008         15,778             17.9335
1917      40,387          3,473         8.6          41,827         15,820              42,193         15,959             15.2756
1918      40,451          4,425        10.9          46,568         14,979              46,912         15,090             13.0116
1919      41,052          5,333        13.0          53,164         14,665              54,238         14,961             11.3243
1920      41,909          7,260        17.3          56,062         13,082              57,200         13,347              9.7792
1921      42,835          6,662        15.6          45,162         11,546              45,616         11,662             10.9509
1922      43,543          6,787        15.6          48,547         13,030              49,600         13,313             11.6872
1923      44,409          7,698        17.3          56,061         14,493              57,315         14,817             11.4805
1924      45,384          7,370        16.2          56,717         14,319              58,414         14,747             11.4576
1925      46,190          4,171         9.0          59,774         14,465              63,292         15,317             11.1782
1926      46,940          4,138         8.8          61,992         14,617              64,895         15,301             11.0675
1927      47,723          4,102         8.6          62,292         14,726              65,814         15,559             11.2819
1928      48,445          4,071         8.4          63,691         15,028              69,384         16,371             11.4305
1929      49,085          4,044         8.2          67,280         15,668              72,489         16,881             11.4305
1930      49,750          3,708         7.5          60,240         14,195              61,814         14,566             11.7235
1931      50,462          3,226         6.4          50,560         12,880              51,113         13,021             12.8548
1932      51,117          3,877         7.6          38,640         10,833              38,778         10,871             14.3308
1933      51,757          3,724         7.2          36,160         10,550              36,770         10,728             15.1010
1934      52,430          4,094         7.8          41,600         11,588              42,030         11,708             14.6044
1935      53,147          4,575         8.6          46,800         12,547              47,761         12,804             14.2482
1936      53,844          5,413        10.1          52,560         13,771              54,484         14,275             14.1072
1937      54,539          6,350        11.6          57,840         14,441              58,544         14,617             13.6169
1938      55,342          6,204        11.2          52,960         13,283              53,871         13,512             13.8807
1939      56,181          7,633        13.6          56,480         14,153              57,273         14,351             14.0778
1940      57,115         14,665        25.7          60,720         14,818              61,478         15,003             13.9384
1941      57,392         25,855        45.0          74,880         17,319              75,834         17,540             13.2747
1942      57,736         36,538        63.3          96,880         20,122              97,611         20,273             11.9916
1943      58,250         43,602        74.9         119,920         23,268             121,643         23,602             11.3021
1944      58,656         46,920        80.0         121,394         23,000             123,167         23,336             11.1132
1945      58,997         49,933        84.6         122,236         22,508             126,405         23,275             10.8633
1946      59,297         52,817        89.1         134,199         22,659             140,365         23,701             10.0123
1947      60,118         55,099        91.7         150,262         21,875             154,580         22,504              8.7520
1948      60,825         52,072        85.6         166,779         22,261             171,142         22,843              8.1187
1949      61,537         51,814        84.2         165,006         21,990             168,147         22,408              8.2008
1950      62,446         53,060        85.0         182,539         23,735             188,313         24,485              8.1196
1951      63,060         55,447        87.9         204,931         24,455             210,812         25,157              7.5251
1952      63,684         56,528        88.8         218,232         25,232             223,149         25,800              7.3631
1953      64,273         57,838        90.0         231,799         26,344             235,829         26,802              7.3047
1954      64,928         56,747        87.4         232,475         26,024             239,088         26,764              7.2683
1955      65,589         58,250        88.8         250,047         27,820             259,426         28,864              7.2975
1956      66,257         59,197        89.3         269,693         29,265             278,560         30,227              7.1897
1957      66,947         59,825        89.4         283,500         29,388             290,399         30,103              6.9398
1958      67,546         59,085        87.5         284,838         28,495             293,415         29,354              6.7574
1959      68,144         60,272        88.4         306,745         30,176             319,178         31,400              6.7037
1960      68,681         61,028        88.9         318,030         30,553             328,547         31,563              6.5982
1961      69,997         61,499        87.9         331,239         30,915             346,390         32,329              6.5328
   1962         71,254           62,712            88.0              353,005               32,012                  364,331              33,040                6.4618
   1963         72,464           63,943            88.2              372,881               32,856                  385,711              33,987                6.3851
   1964         73,660           65,376            88.8              402,491               34,442                  418,457              35,808                6.3032
   1965         74,772           67,596            90.4              432,179               35,823                  452,696              37,524                6.1978
   1966         75,831           70,160            92.5              470,774               37,393                  490,887              38,990                6.0232
   1967         76,856           71,652            93.2              503,805               38,370                  531,405              40,472                5.8534
   1968         77,826           73,729            94.7              548,968               39,625                  585,268              42,245                5.6175
   1969         78,793           75,834            96.2              594,702               40,227                  624,279              42,227                5.3297
   1970         79,924           74,280            92.9              641,252               40,379                  659,499              41,528                5.0327
   1971         81,849           74,576            91.1              683,606               40,262                  709,906              41,811                4.8206
   1972         83,670           77,573            92.7              751,148               41,936                  785,497              43,853                4.6712
   1973         85,442           80,693            94.4              831,699               42,815                  865,419              44,551                4.3985
   1974         87,228           83,340            95.5              914,550               41,546                  941,901              42,789                3.9626
   1975         89,127           82,229            92.3              965,991               39,365                  994,271              40,518                3.6321
   1976         91,048           84,670            93.0             1,068,765              40,297                 1,106,044             41,703                3.4329
   1977         93,076           86,635            93.1             1,175,140              40,698                 1,217,278             42,157                3.2234
   1978         95,213           89,771            94.3             1,317,571              41,456                 1,365,290             42,957                2.9957
   1979         97,457           92,694            95.1             1,476,334              40,774                 1,548,415             42,765                2.6916
   1980         99,625           93,902            94.3             1,631,792              38,843                 1,706,018             40,610                2.3715
   1981         101,432          95,396            94.0             1,803,845              38,235                 1,881,124             39,873                2.1500
   1982         103,250          95,337            92.3             1,907,974              37,411                 1,994,598             39,109                2.0245
   1983         105,067          96,321            91.7             2,004,402              37,424                 2,127,822             39,729                1.9617
   1984         106,871          99,439            93.0             2,193,703              38,607                 2,331,723             41,036                1.8808
   1985         108,736          101,660           93.5             2,349,495              39,228                 2,521,717             42,103                1.8155
   1986         110,684          103,045           93.1             2,467,473              39,718                 2,800,382             45,076                1.7816
   1987         112,640          106,996           95.0             2,668,944              40,748                 2,806,993             42,855                1.7197
   1988         114,656          109,708           95.7             2,956,032              42,591                 3,111,660             44,833                1.6520
   1989         116,759          112,136           96.0             3,130,387              42,262                 3,277,077             44,242                1.5763
   1990         119,055          113,717           95.5             3,327,454              41,799                 3,443,156             43,253                1.4956
   1991         120,453          114,730           95.2             3,387,468              40,364                 3,488,042             41,562                1.4353
   1992         121,944          113,605           93.2             3,545,787              40,518                 3,661,363             41,839                1.3935
   1993         123,378          114,602           92.9             3,622,021              39,717                 3,762,368             41,256                1.3529
   1994         124,716          115,943           93.0             3,805,321              40,233                 3,944,422             41,704                1.3186
   1995         126,023          118,218           93.8             4,050,828              41,230                 4,218,233             42,934                1.2827
   1996         127,625          120,351           94.2             4,309,235              42,048                 4,558,767             44,483                1.2453
   1997         129,301          122,422           94.5             4,636,737              43,653                 4,991,359             46,992                1.2173
   1998         130,945          124,771           94.7             4,992,745              45,684                 5,437,253             49,751                1.1982
   1999         132,267          127,075           95.4             5,350,790              47,427                 5,872,170             52,049                1.1724
   2000         134,473          129,374           96.2             5,712,243              48,177                 6,326,982             53,362                1.1341
   2001         137,088          130,255           95.0             5,846,258              47,029                 6,171,427             49,644                1.1028
   2002         139,703          130,076           93.2             5,823,155              45,251                 6,061,523             47,103                1.0856
   2003         141,843          130,424           91.9             5,961,478              44,610                 6,255,500             46,810                1.0614
   2004         143,982          132,226           91.8             6,383,254              45,836                 6,854,990             49,223                1.0339
   2005         145,881          134,463           92.2             6,828,036              46,806                 7,427,420             50,914                1.0000


Notes: Population and tax units estimates based on census and current population surveys (Historical Statistics of the United States, and Statistical Abstract of the United States)
Tax units estimated as sum of married men, divorced and widowed men and women, and singles men and women aged 20 and over.
Before 1944, total income (excluding capital gains) is defined as 80% of personal income minus transfers from National Accounts.
From 1944 on, total income is defined as total Adjusted Gross Income less realized capital gains, taxable SS and UI benefits and adding back all adjustments to gross income.
Income of non-filers is imputed as 20% of average income (50% in 1944-1945).
Income including capital gains is defined as total income including 100% of capital gains reported on tax returns (from 1944 on) and assuming that the top 10%
taxpayers earn 90% of all realized capital gains (before 1944). Piketty and Saez (2001) included only capital gains going to the top 10% in col. (7).
Consumer Price Index (CPI-U) is the official CPI index from Economic Report of the President.
             Table A1: Top fractiles income shares (excluding capital gains) in the U.S., 1913-2005
                        (fractiles are defined by total income (excluding capital gains))

       P90-100 P95-100 P99-100 P99.5-100P99.9-100P99.99-100         P90-95    P95-99 P99-99.5 P99.5-99.9P99.9-99.99
         (1)     (2)      (3)      (4)     (5)       (6)              (7)       (8)     (9)      (10)      (11)
1913                    17.96    14.73    8.62      2.76                               3.23     6.11       5.86
1914                    18.16    15.08    8.60      2.73                               3.08     6.48       5.87
1915                    17.58    14.58    9.22      4.36                               3.00     5.36       4.86
1916                    18.57    15.60    9.87      4.40                               2.97     5.74       5.46
1917    40.29   30.33   17.60    14.23    8.36      3.33              9.95     12.74   3.37     5.88       5.03
1918    39.90   29.30   15.88    12.39    6.74      2.45             10.61     13.41   3.50     5.64       4.29
1919    39.48   29.31   15.87    12.23    6.45      2.22             10.17     13.44   3.63     5.78       4.23
1920    38.10   27.47   14.46    10.95    5.37      1.67             10.63     13.01   3.51     5.58       3.70
1921    42.86   30.46   15.47    11.60    5.60      1.69             12.40     14.98   3.87     6.00       3.91
1922    42.95   31.05   16.29    12.38    6.17      2.01             11.90     14.76   3.92     6.21       4.16
1923    40.59   28.95   14.99    11.32    5.50      1.75             11.64     13.96   3.67     5.82       3.75
1924    43.26   30.93   16.32    12.42    6.14      2.01             12.34     14.61   3.90     6.28       4.13
1925    44.17   32.47   17.60    13.41    6.75      2.35             11.70     14.86   4.19     6.66       4.41
1926    44.07   32.75   18.01    13.75    7.07      2.54             11.32     14.74   4.26     6.68       4.53
1927    44.67   33.43   18.68    14.33    7.47      2.76             11.23     14.75   4.35     6.86       4.71
1928    46.09   34.77   19.60    15.17    8.19      3.23             11.32     15.17   4.42     6.98       4.97
1929    43.76   33.05   18.42    14.21    7.62      3.01             10.71     14.63   4.20     6.59       4.62
1930    43.07   31.18   16.42    12.42    6.40      2.39             11.89     14.76   4.01     6.02       4.01
1931    44.40   31.01   15.27    11.32    5.68      2.07             13.39     15.74   3.95     5.65       3.60
1932    46.30   32.59   15.48    11.55    5.90      1.93             13.71     17.11   3.93     5.65       3.97
1933    45.03   32.49   15.77    11.78    6.05      2.04             12.54     16.72   3.99     5.72       4.01
1934    45.16   32.99   15.87    11.80    5.82      1.92             12.16     17.13   4.07     5.97       3.90
1935    43.39   30.99   15.63    11.67    5.80      1.95             12.40     15.36   3.96     5.87       3.85
1936    44.77   32.65   17.64    13.37    6.69      2.23             12.12     15.02   4.27     6.68       4.45
1937    43.35   31.38   16.45    12.42    6.16      2.02             11.97     14.93   4.04     6.25       4.15
1938    43.00   30.18   14.73    10.82    5.16      1.67             12.82     15.45   3.91     5.66       3.49
1939    44.57   31.29   15.39    11.37    5.45      1.74             13.28     15.89   4.03     5.91       3.71
1940    44.43   31.29   15.73    11.66    5.57      1.77             13.14     15.55   4.07     6.09       3.80
1941    41.02   29.02   15.01    11.15    5.29      1.63             12.00     14.01   3.86     5.86       3.66
1942    35.49   25.11   12.91     9.60    4.48      1.32             10.39     12.20   3.31     5.12       3.16
1943    32.67   23.02   11.48     8.43    3.78      0.97              9.65     11.54   3.06     4.65       2.81
1944    31.55   21.76   10.54     7.60    3.33      0.92              9.79     11.22   2.94     4.28       2.40
1945    32.64   22.90   11.07     7.87    3.32      0.84              9.74     11.83   3.20     4.55       2.47
1946    34.62   24.66   11.76     8.28    3.43      0.92              9.96     12.90   3.48     4.85       2.52
1947    33.02   23.30   10.95     7.71    3.24      0.90              9.72     12.35   3.25     4.47       2.33
1948    33.72   23.70   11.27     8.03    3.44      0.95             10.02     12.43   3.24     4.59       2.48
1949    33.76   23.46   10.95     7.77    3.34      0.95             10.30     12.52   3.18     4.43       2.38
1950    33.87   23.87   11.36     8.14    3.53      0.83             10.00     12.51   3.22     4.60       2.70
1951    32.82   22.67   10.52     7.41    3.12      0.87             10.15     12.15   3.11     4.29       2.25
1952    32.07   21.85    9.76     6.81    2.76      0.75             10.23     12.09   2.95     4.05       2.01
1953    31.38   21.01    9.08     6.26    2.51      0.67             10.37     11.93   2.82     3.76       1.83
1954    32.12   21.56    9.39     6.47    2.57      0.71             10.56     12.17   2.92     3.90       1.86
1955    31.77   21.38    9.18     6.28    2.49      0.72             10.39     12.20   2.90     3.80       1.77
1956    31.81   21.35    9.09     6.14    2.38      0.68             10.46     12.26   2.94     3.76       1.70
1957    31.69   21.17    8.98     6.08    2.36      0.66             10.52     12.19   2.90     3.72       1.70
1958    32.11   21.26    8.83     5.94    2.29      0.64             10.85     12.43   2.89     3.65       1.65
1959    32.03   21.02    8.75     5.90    2.19      0.62             11.01     12.28   2.85     3.71       1.58
1960    31.66   20.51    8.36     5.52    2.10      0.60             11.15     12.15   2.84     3.42       1.50
  1961       31.90      20.91       8.34       5.41       2.05        0.59            10.99       12.57      2.93        3.36        1.47
  1962       32.04      20.94       8.27       5.40       1.98        0.56            11.10       12.67      2.87        3.42        1.42
  1963       32.01      20.90       8.16       5.33       1.96        0.57            11.11       12.73      2.83        3.37        1.40
  1964       31.64      20.62       8.02       5.33       1.97        0.53            11.02       12.60      2.69        3.36        1.44
  1965       31.52      20.70       8.07       5.42       2.04        0.54            10.82       12.63      2.64        3.38        1.50
  1966       31.98      20.99       8.37       5.59       2.15        0.60            10.99       12.62      2.78        3.43        1.55
  1967       32.05      21.07       8.43       5.63       2.16        0.60            10.97       12.65      2.80        3.47        1.56
  1968       31.98      20.98       8.35       5.58       2.15        0.58            11.01       12.62      2.77        3.43        1.56
  1969       31.82      20.68       8.02       5.30       2.00        0.55            11.14       12.66      2.71        3.30        1.45
  1970       31.51      20.39       7.80       5.16       1.94        0.53            11.13       12.58      2.65        3.22        1.41
  1971       31.75      20.50       7.79       5.12       1.91        0.52            11.26       12.71      2.66        3.21        1.40
  1972       31.62      20.37       7.75       5.10       1.92        0.52            11.25       12.62      2.66        3.18        1.40
  1973       31.85      20.57       7.74       5.07       1.89        0.50            11.28       12.83      2.67        3.18        1.39
  1974       32.36      21.04       8.12       5.41       2.11        0.56            11.32       12.91      2.71        3.30        1.54
  1975       32.62      21.03       8.01       5.31       2.04        0.56            11.60       13.02      2.70        3.27        1.48
  1976       32.42      20.85       7.89       5.23       2.02        0.56            11.57       12.96      2.66        3.21        1.46
  1977       32.43      20.83       7.90       5.25       2.04        0.57            11.60       12.93      2.65        3.21        1.48
  1978       32.44      20.86       7.95       5.30       2.08        0.58            11.58       12.91      2.65        3.22        1.50
  1979       32.35      20.83       8.03       5.38       2.16        0.62            11.52       12.80      2.65        3.23        1.54
  1980       32.87      21.17       8.18       5.51       2.23        0.65            11.70       12.99      2.67        3.28        1.58
  1981       32.72      20.97       8.03       5.42       2.23        0.66            11.75       12.94      2.60        3.20        1.57
  1982       33.22      21.40       8.39       5.73       2.45        0.77            11.82       13.01      2.66        3.28        1.68
  1983       33.69      21.79       8.59       5.94       2.61        0.87            11.91       13.19      2.66        3.33        1.74
  1984       33.95      22.10       8.89       6.22       2.83        0.98            11.85       13.21      2.67        3.39        1.85
  1985       34.25      22.38       9.09       6.39       2.91        0.97            11.87       13.28      2.70        3.48        1.94
  1986       34.57      22.59       9.13       6.38       2.87        1.00            11.98       13.46      2.75        3.51        1.87
  1987       36.48      24.49      10.75       7.76       3.73        1.30            11.99       13.74      2.98        4.04        2.43
  1988       38.63      26.95      13.17       9.96       5.21        1.99            11.68       13.78      3.20        4.75        3.22
  1989       38.47      26.66      12.61       9.37       4.74        1.74            11.81       14.05      3.24        4.63        3.00
  1990       38.84      27.05      12.98       9.71       4.90        1.83            11.78       14.07      3.27        4.82        3.07
  1991       38.38      26.43      12.17       8.90       4.36        1.61            11.95       14.26      3.27        4.54        2.75
  1992       39.82      27.88      13.48      10.11       5.21        2.02            11.94       14.40      3.37        4.90        3.20
  1993       39.48      27.41      12.82       9.45       4.72        1.74            12.07       14.59      3.37        4.74        2.98
  1994       39.60      27.50      12.85       9.45       4.70        1.73            12.09       14.65      3.40        4.74        2.97
  1995       40.54      28.46      13.53       9.99       4.98        1.82            12.08       14.93      3.54        5.01        3.17
  1996       41.16      29.16      14.11      10.49       5.33        1.97            12.00       15.05      3.62        5.16        3.35
  1997       41.73      29.85      14.77      11.12       5.81        2.20            11.87       15.08      3.65        5.32        3.61
  1998       42.12      30.36      15.29      11.61       6.20        2.41            11.77       15.06      3.68        5.41        3.79
  1999       42.67      30.97      15.87      12.16       6.64        2.63            11.70       15.10      3.72        5.52        4.00
  2000       43.11      31.51      16.49      12.78       7.13        2.84            11.60       15.02      3.71        5.66        4.29
  2001       42.23      30.40      15.37      11.71       6.26        2.40            11.83       15.03      3.66        5.45        3.86
  2002       41.67      29.66      14.64      11.06       5.78        2.19            12.02       15.02      3.58        5.28        3.59
  2003       42.04      29.95      14.87      11.29       6.00        2.37            12.09       15.08      3.59        5.29        3.63
  2004       43.11      31.20      16.08      12.33       6.81        2.83            11.92       15.12      3.75        5.52        3.99
  2005       44.28      32.48      17.36      13.40       7.45        3.00            11.80       15.12      3.96        5.95        4.45


Notes: Computations by authors on tax return statistics. Taxpayers are ranked by gross income (excluding capital gains and government transfers).
Income is defined as market income but excludes capital gains.
The Table reports the percentage of total income accruing to each of the top groups. P90-100 denotes to top decile,
P90-95 denotes the bottom half of the top decile, etc.
                 Table A2: Top fractiles income shares (including capital gains) in the U.S., 1913-2005
                            (fractiles are defined by total income (excluding capital gains))

       P90-100   P95-100   P99-100 P99.5-100 P99.9-100 P99.99-100         P90-95    P95-99    P99-99.5 P99.5-99.9P99.9-99.99
         (1)       (2)       (3)      (4)       (5)        (6)              (7)       (8)        (9)      (10)      (11)
1913                        17.96    14.73     8.62       2.76                                  3.23     6.11       5.86
1914                        18.16    15.08     8.60       2.73                                  3.08     6.48       5.87
1915                        17.58    14.58     9.22       4.36                                  3.00     5.36       4.86
1916                        18.89    15.93     10.13      4.51                                  2.95     5.81       5.61
1917    40.43     30.57     17.72    14.32     8.39       3.33             9.87      12.85      3.40     5.93       5.06
1918    40.08     29.48     15.99    12.45     6.74       2.44             10.61     13.49      3.54     5.70       4.30
1919    39.92     29.79     16.15    12.42     6.51       2.22             10.13     13.64      3.74     5.91       4.29
1920    38.69     28.02     14.68    11.04     5.35       1.65             10.66     13.35      3.64     5.69       3.70
1921    43.08     30.72     15.62    11.68     5.61       1.68             12.37     15.10      3.94     6.07       3.93
1922    43.21     31.45     16.65    12.67     6.35       2.09             11.76     14.80      3.98     6.32       4.26
1923    40.98     29.32     15.28    11.57     5.65       1.83             11.65     14.04      3.72     5.91       3.83
1924    43.66     31.39     16.80    12.82     6.38       2.10             12.26     14.59      3.98     6.45       4.28
1925    44.55     33.24     18.62    14.33     7.37       2.63             11.32     14.62      4.29     6.96       4.74
1926    44.35     33.28     18.70    14.40     7.55       2.79             11.07     14.58      4.31     6.85       4.76
1927    44.96     34.02     19.49    15.13     8.08       3.05             10.94     14.53      4.36     7.05       5.04
1928    46.27     35.58     21.09    16.66     9.34       3.73             10.69     14.48      4.43     7.33       5.60
1929    43.97     33.78     19.76    15.55     8.77       3.61             10.20     14.02      4.20     6.78       5.16
1930    43.24     31.46     16.72    12.70     6.64       2.53             11.78     14.75      4.01     6.06       4.11
1931    44.40     31.10     15.39    11.44     5.77       2.13             13.31     15.70      3.95     5.67       3.64
1932    46.36     32.66     15.56    11.64     5.96       1.95             13.70     17.10      3.93     5.68       4.01
1933    45.17     32.76     16.09    12.09     6.29       2.14             12.41     16.67      4.00     5.80       4.15
1934    45.17     33.11     16.00    11.92     5.89       1.93             12.07     17.11      4.08     6.03       3.96
1935    43.54     31.34     15.97    11.97     5.96       1.98             12.20     15.37      3.99     6.01       3.99
1936    45.15     33.22     18.16    13.83     6.92       2.25             11.93     15.06      4.34     6.91       4.66
1937    43.54     31.59     16.67    12.58     6.23       2.03             11.95     14.93      4.08     6.35       4.21
1938    43.13     30.41     15.02    11.08     5.36       1.80             12.72     15.39      3.94     5.73       3.56
1939    44.75     31.53     15.64    11.57     5.56       1.77             13.23     15.89      4.07     6.01       3.78
1940    44.56     31.50     15.95    11.84     5.68       1.82             13.06     15.54      4.11     6.16       3.86
1941    41.17     29.25     15.23    11.34     5.43       1.71             11.92     14.02      3.89     5.91       3.72
1942    35.60     25.28     13.06    9.72      4.57       1.37             10.32     12.22      3.34     5.15       3.20
1943    32.98     23.38     11.78    8.67      3.93       1.03             9.60      11.60      3.12     4.73       2.90
1944    31.85     22.12     10.81    7.82      3.46       0.98             9.74      11.31      2.99     4.36       2.48
1945    33.24     23.63     11.61    8.32      3.59       0.95             9.61      12.02      3.30     4.72       2.65
1946    35.28     25.38     12.23    8.67      3.71       1.05             9.89      13.15      3.56     4.96       2.66
1947    33.38     23.73     11.25    7.97      3.44       1.00             9.65      12.48      3.29     4.53       2.44
1948    34.08     24.14     11.57    8.29      3.62       1.03             9.94      12.57      3.29     4.67       2.58
1949    34.00     23.77     11.19    7.98      3.48       1.02             10.23     12.58      3.21     4.50       2.46
1950    34.41     24.41     11.91    8.56      3.82       0.92             10.00     12.50      3.35     4.74       2.90
1951    33.18     23.17     10.98    7.79      3.37       0.97             10.00     12.20      3.19     4.43       2.40
1952    32.35     22.22     10.13    7.13      2.98       0.83             10.13     12.09      3.00     4.14       2.15
1953    31.60     21.31     9.37     6.53      2.69       0.75             10.28     11.94      2.85     3.83       1.95
1954    32.53     22.20     9.92     6.92      2.89       0.83             10.33     12.29      2.99     4.03       2.07
1955    32.52     22.21     9.92     6.92      2.93       0.88             10.31     12.28      3.00     3.99       2.05
1956    32.24     21.92     9.68     6.75      2.79       0.82             10.31     12.24      2.93     3.96       1.97
1957    32.03     21.65     9.42     6.52      2.66       0.77             10.37     12.24      2.90     3.86       1.89
1958    32.46     21.84     9.35     6.45      2.63       0.76             10.62     12.49      2.90     3.82       1.87
1959    32.56     21.95     9.49     6.62      2.66       0.78             10.61     12.45      2.87     3.96       1.88
1960    32.19     21.30     9.01     6.15      2.52       0.76             10.89     12.29      2.86     3.63       1.76
   1961        32.56        21.84       9.24         6.32        2.65         0.82             10.73        12.59       2.93        3.66            1.84
   1962        32.44        21.56       8.92         6.06        2.44         0.73             10.88        12.64       2.86        3.62            1.71
   1963        32.48        21.56       8.86         6.00        2.41         0.73             10.92        12.70       2.87        3.59            1.67
   1964        32.73        21.84       9.10         6.16        2.48         0.76             10.89        12.74       2.94        3.68            1.73
   1965        32.85        22.00       9.30         6.33        2.62         0.82             10.85        12.70       2.97        3.71            1.80
   1966        32.82        22.08       9.42         6.48        2.75         0.83             10.74        12.66       2.94        3.73            1.92
   1967        33.39        22.66       9.83         6.81        2.87         0.84             10.73        12.83       3.02        3.94            2.04
   1968        33.59        22.86       10.07        7.03        3.00         0.87             10.72        12.79       3.04        4.03            2.13
   1969        32.92        22.08       9.40         6.54        2.79         0.87             10.84        12.68       2.86        3.75            1.92
   1970        31.91        20.97       8.44         5.71        2.29         0.66             10.94        12.53       2.73        3.42            1.62
   1971        32.42        21.39       8.65         5.86        2.38         0.69             11.03        12.73       2.79        3.48            1.69
   1972        32.45        21.40       8.70         5.89        2.39         0.72             11.05        12.70       2.81        3.50            1.68
   1973        32.27        21.22       8.34         5.59        2.19         0.60             11.05        12.88       2.75        3.40            1.59
   1974        32.55        21.40       8.53         5.75        2.31         0.64             11.15        12.87       2.78        3.45            1.67
   1975        32.75        21.33       8.37         5.61        2.23         0.64             11.42        12.96       2.75        3.38            1.59
   1976        32.63        21.24       8.33         5.60        2.24         0.65             11.39        12.91       2.72        3.36            1.59
   1977        32.69        21.27       8.36         5.63        2.27         0.65             11.42        12.91       2.73        3.37            1.62
   1978        32.63        21.23       8.36         5.64        2.28         0.65             11.40        12.87       2.72        3.37            1.63
   1979        33.01        21.77       9.00         6.24        2.74         0.90             11.24        12.77       2.76        3.50            1.85
   1980        33.54        22.10       9.15         6.36        2.77         0.87             11.44        12.95       2.79        3.59            1.89
   1981        33.32        21.82       8.93         6.22        2.72         0.86             11.50        12.89       2.71        3.49            1.86
   1982        34.27        22.75       9.76         6.97        3.28         1.13             11.52        12.99       2.79        3.68            2.15
   1983        34.98        23.46       10.28        7.41        3.54         1.24             11.53        13.17       2.88        3.87            2.30
   1984        35.33        23.84       10.63        7.79        3.87         1.38             11.50        13.21       2.84        3.92            2.48
   1985        35.97        24.46       11.09        8.17        4.07         1.42             11.51        13.36       2.92        4.10            2.65
   1986        37.86        26.63       13.14        9.99        4.89         1.94             11.23        13.49       3.16        5.09            2.96
   1987        37.30        25.57       11.75        8.64        4.25         1.50             11.74        13.82       3.11        4.39            2.74
   1988        39.78        28.41       14.65        11.30       6.10         2.39             11.37        13.75       3.35        5.20            3.71
   1989        39.34        27.80       13.81        10.44       5.47         2.10             11.55        13.98       3.38        4.97            3.37
   1990        39.38        27.81       13.81        10.46       5.40         2.08             11.57        14.00       3.35        5.06            3.32
   1991        38.78        26.98       12.72        9.38        4.67         1.72             11.80        14.26       3.34        4.71            2.95
   1992        40.31        28.56       14.22        10.78       5.67         2.20             11.75        14.34       3.45        5.11            3.47
   1993        40.05        28.22       13.68        10.25       5.27         1.97             11.83        14.54       3.43        4.98            3.30
   1994        40.13        28.23       13.65        10.17       5.18         1.93             11.91        14.58       3.47        4.99            3.24
   1995        41.50        29.58       14.62        10.94       5.58         2.03             11.92        14.96       3.68        5.36            3.55
   1996        42.69        30.94       15.84        12.03       6.35         2.41             11.76        15.10       3.81        5.68            3.93
   1997        43.77        32.21       16.99        13.09       7.15         2.68             11.56        15.22       3.90        5.94            4.46
   1998        44.35        32.92       17.69        13.72       7.58         2.92             11.44        15.22       3.97        6.14            4.67
   1999        45.01        33.68       18.37        14.34       8.00         3.10             11.33        15.31       4.03        6.34            4.90
   2000        45.29        34.26       19.30        15.28       8.78         3.44             11.04        14.96       4.02        6.50            5.35
   2001        43.15        31.65       16.76        12.98       7.09         2.74             11.49        14.89       3.78        5.89            4.35
   2002        42.53        30.77       15.81        12.10       6.46         2.47             11.77        14.96       3.71        5.64            3.99
   2003        43.02        31.24       16.25        12.51       6.77         2.68             11.78        14.99       3.74        5.74            4.09
   2004        44.27        32.79       17.85        13.95       7.79         3.19             11.48        14.95       3.90        6.16            4.60
   2005        45.67        34.33       19.26        15.18       8.58         3.42             11.34        15.07       4.08        6.60            5.16



Notes: Computations by authors on tax return statistics. Taxpayers are ranked by gross income (excluding capital gains and government transfers).
Income to compute shares is defined as market income and includes capital gains.
The Table reports the percentage of total income accruing to each of the top groups. P90-100 denotes to top decile,
P90-95 denotes the bottom half of the top decile, etc.
Those series differ slightly from Table A2 in Piketty and Saez (2001) because of the difference in the denominator:
The denominator we use includes all capital gains while the denominator in Piketty and Saez (2001) included only capital gains going to the top 10%.
                    Table A3: Top fractiles income shares (including capital gains) in the U.S., 1913-2005
                               (fractiles are defined by total income (including capital gains))

       P90-100   P95-100   P99-100   P99.5-100 P99.9-100 P99.99-100            P90-95     P95-99    P99-99.5 P99.5-99.9 P99.9-99.99
         (1)       (2)       (3)        (4)       (5)        (6)                 (7)        (8)        (9)      (10)       (11)
1913                        17.96      14.73     8.62       2.76                                      3.23     6.11        5.86
1914                        18.16      15.08     8.60       2.73                                      3.08     6.48        5.87
1915                        17.58      14.58     9.22       4.36                                      3.00     5.36        4.86
1916                        19.31      16.37     10.51      4.78                                      2.94     5.86        5.73
1917    40.51     30.64     17.74      14.34     8.40       3.37               9.87        12.90      3.39     5.94        5.04
1918    40.11     29.49     15.96      12.43     6.72       2.45               10.61       13.53      3.53     5.71        4.26
1919    40.32     30.17     16.41      12.64     6.63       2.29               10.15       13.76      3.77     6.01        4.34
1920    39.01     28.32     14.83      11.14     5.36       1.66               10.69       13.49      3.69     5.79        3.69
1921    43.18     30.80     15.64      11.70     5.60       1.69               12.38       15.17      3.94     6.10        3.91
1922    43.72     31.94     17.06      13.06     6.64       2.27               11.78       14.89      4.00     6.42        4.36
1923    41.46     29.78     15.64      11.91     5.91       2.00               11.68       14.13      3.73     6.00        3.91
1924    44.41     32.11     17.42      13.40     6.79       2.32               12.29       14.69      4.02     6.61        4.46
1925    46.35     35.01     20.24      15.86     8.52       3.31               11.34       14.77      4.38     7.34        5.21
1926    45.71     34.61     19.91      15.55     8.46       3.36               11.10       14.70      4.36     7.09        5.09
1927    46.67     35.69     21.03      16.60     9.25       3.75               10.98       14.67      4.43     7.34        5.50
1928    49.29     38.56     23.94      19.40     11.54      5.02               10.73       14.62      4.54     7.86        6.52
1929    46.71     36.48     22.35      18.07     10.91      4.99               10.23       14.13      4.29     7.15        5.92
1930    43.87     32.06     17.22      13.20     7.07       2.84               11.80       14.84      4.02     6.13        4.23
1931    44.54     31.23     15.50      11.57     5.89       2.25               13.31       15.73      3.93     5.67        3.64
1932    46.37     32.67     15.56      11.62     5.97       1.99               13.70       17.11      3.93     5.65        3.98
1933    45.60     33.19     16.46      12.46     6.61       2.34               12.42       16.73      4.00     5.86        4.26
1934    45.78     33.71     16.40      12.30     6.13       2.07               12.07       17.32      4.10     6.17        4.06
1935    44.49     32.28     16.68      12.63     6.39       2.19               12.21       15.61      4.04     6.24        4.20
1936    46.59     34.64     19.29      14.86     7.57       2.54               11.96       15.35      4.43     7.29        5.03
1937    44.23     32.27     17.15      13.02     6.49       2.17               11.96       15.12      4.13     6.53        4.32
1938    44.07     31.34     15.75      11.78     5.88       2.19               12.73       15.59      3.98     5.89        3.69
1939    45.52     32.28     16.18      12.06     5.87       1.96               13.24       16.10      4.12     6.19        3.91
1940    45.29     32.22     16.48      12.33     6.01       2.04               13.07       15.74      4.14     6.33        3.96
1941    41.93     29.99     15.79      11.86     5.81       1.98               11.94       14.21      3.92     6.06        3.83
1942    36.13     25.80     13.43      10.07     4.81       1.55               10.32       12.37      3.36     5.26        3.27
1943    33.69     24.08     12.31      9.15      4.26       1.24               9.61        11.77      3.16     4.88        3.03
1944    32.51     22.77     11.28      8.26      3.76       1.16               9.75        11.48      3.02     4.50        2.59
1945    34.42     24.79     12.52      9.14      4.16       1.26               9.63        12.28      3.38     4.98        2.90
1946    36.70     26.77     13.28      9.61      4.39       1.47               9.93        13.49      3.66     5.22        2.92
1947    34.35     24.68     11.96      8.61      3.92       1.30               9.67        12.72      3.34     4.70        2.61
1948    35.01     25.06     12.24      8.90      4.06       1.31               9.96        12.81      3.34     4.85        2.75
1949    34.75     24.51     11.73      8.48      3.83       1.24               10.25       12.78      3.25     4.64        2.59
1950    35.56     25.53     12.82      9.37      4.39       1.22               10.03       12.71      3.45     4.98        3.17
1951    34.22     24.20     11.79      8.53      3.89       1.28               10.02       12.41      3.26     4.64        2.61
1952    33.21     23.07     10.79      7.74      3.43       1.09               10.14       12.28      3.05     4.31        2.34
1953    32.31     22.01     9.90       7.02      3.06       0.97               10.29       12.11      2.88     3.97        2.09
1954    33.64     23.30     10.77      7.71      3.49       1.17               10.34       12.52      3.06     4.22        2.32
1955    33.94     23.60     11.06      7.96      3.71       1.32               10.34       12.54      3.10     4.25        2.40
1956    33.46     23.13     10.67      7.70      3.49       1.20               10.34       12.45      2.97     4.22        2.29
1957    32.99     22.60     10.16      7.23      3.18       1.05               10.38       12.44      2.93     4.05        2.13
1958    33.56     22.93     10.21      7.27      3.22       1.08               10.63       12.72      2.94     4.05        2.14
1959    34.00     23.39     10.65      7.72      3.45       1.19               10.61       12.74      2.93     4.27        2.26
1960    33.48     22.57     10.03      7.13      3.25       1.17               10.90       12.54      2.91     3.88        2.07
   1961         34.25        23.50        10.64        7.66         3.65           1.38               10.75        12.86         2.98         4.01        2.27
   1962         33.70        22.81        9.95         7.06         3.19           1.16               10.90        12.86         2.89         3.86        2.03
   1963         33.78        22.84        9.92         7.00         3.15           1.15               10.94        12.93         2.92         3.85        2.00
   1964         34.42        23.50        10.48        7.39         3.37           1.30               10.92        13.02         3.09         4.01        2.07
   1965         34.78        23.88        10.89        7.73         3.66           1.49               10.90        12.98         3.17         4.07        2.17
   1966         33.67        22.92        10.18        7.22         3.39           1.29               10.75        12.74         2.96         3.83        2.10
   1967         34.44        23.70        10.74        7.67         3.68           1.42               10.74        12.96         3.06         4.00        2.26
   1968         34.85        24.15        11.21        8.14         4.02           1.61               10.70        12.94         3.07         4.12        2.41
   1969         33.93        23.08        10.35        7.45         3.69           1.56               10.85        12.73         2.91         3.75        2.14
   1970         32.63        21.66        9.03         6.25         2.78           1.00               10.96        12.64         2.77         3.48        1.78
   1971         33.34        22.26        9.40         6.56         2.99           1.11               11.08        12.86         2.84         3.58        1.87
   1972         33.59        22.52        9.64         6.78         3.13           1.18               11.07        12.88         2.86         3.65        1.95
   1973         33.33        22.21        9.16         6.30         2.76           0.94               11.12        13.05         2.86         3.54        1.82
   1974         33.31        22.12        9.12         6.31         2.73           0.88               11.19        13.00         2.82         3.58        1.85
   1975         33.43        21.98        8.87         6.07         2.56           0.85               11.45        13.11         2.80         3.50        1.72
   1976         33.41        21.97        8.86         6.07         2.59           0.86               11.44        13.11         2.79         3.47        1.73
   1977         33.58        22.12        9.03         6.22         2.71           0.92               11.46        13.10         2.81         3.51        1.78
   1978         33.49        22.04        8.95         6.16         2.65           0.86               11.45        13.09         2.79         3.51        1.79
   1979         34.21        22.93        9.96         7.11         3.44           1.37               11.28        12.97         2.85         3.67        2.07
   1980         34.63        23.17        10.02        7.15         3.41           1.28               11.47        13.15         2.87         3.74        2.13
   1981         34.54        23.04        10.02        7.23         3.57           1.37               11.51        13.02         2.78         3.67        2.20
   1982         35.33        23.83        10.80        7.97         4.18           1.73               11.50        13.04         2.83         3.79        2.44
   1983         36.38        24.85        11.56        8.63         4.62           1.88               11.53        13.30         2.92         4.01        2.74
   1984         36.74        25.29        11.99        9.04         4.98           2.15               11.45        13.30         2.95         4.06        2.83
   1985         37.56        26.12        12.67        9.63         5.32           2.24               11.44        13.45         3.04         4.31        3.08
   1986         40.63        29.49        15.92        12.62        7.40           3.34               11.14        13.57         3.30         5.22        4.05
   1987         38.25        26.54        12.66        9.45         4.90           1.91               11.71        13.88         3.21         4.55        2.99
   1988         40.63        29.29        15.49        12.09        6.80           2.86               11.34        13.80         3.40         5.29        3.94
   1989         40.08        28.55        14.49        11.08        6.00           2.45               11.54        14.06         3.41         5.08        3.54
   1990         39.98        28.41        14.33        10.94        5.82           2.33               11.57        14.08         3.39         5.12        3.49
   1991         39.55        27.72        13.36        9.99         5.12           1.96               11.82        14.36         3.38         4.86        3.17
   1992         40.82        29.06        14.67        11.20        6.03           2.46               11.76        14.39         3.47         5.17        3.57
   1993         40.68        28.83        14.24        10.78        5.73           2.32               11.85        14.60         3.46         5.05        3.41
   1994         40.78        28.89        14.23        10.73        5.70           2.29               11.89        14.66         3.50         5.03        3.41
   1995         42.11        30.22        15.23        11.57        6.21           2.46               11.89        14.99         3.66         5.36        3.74
   1996         43.48        31.76        16.69        12.91        7.24           3.06               11.73        15.07         3.78         5.67        4.18
   1997         44.64        33.14        18.02        14.16        8.19           3.53               11.50        15.13         3.86         5.97        4.66
   1998         45.39        34.10        19.09        15.18        9.00           3.92               11.30        15.01         3.91         6.18        5.07
   1999         46.47        35.22        20.04        16.04        9.62           4.21               11.25        15.17         4.01         6.41        5.41
   2000         47.61        36.61        21.52        17.46        10.88          5.07               11.00        15.09         4.07         6.58        5.80
   2001         44.82        33.35        18.22        14.32        8.37           3.70               11.47        15.13         3.90         5.96        4.67
   2002         43.82        32.07        16.87        13.04        7.34           3.14               11.75        15.20         3.83         5.70        4.20
   2003         44.53        32.77        17.53        13.67        7.87           3.49               11.76        15.24         3.86         5.80        4.38
   2004         46.40        34.95        19.75        15.74        9.47           4.34               11.45        15.20         4.01         6.28        5.12
   2005         48.48        37.17        21.83        17.66        10.93          5.05               11.31        15.34         4.17         6.73        5.88


Notes: Computations by authors on tax return statistics. Taxpayers are ranked by gross income including capital gains (excluding government transfers).
Income to compute shares is defined as market income and includes capital gains.
The Table reports the percentage of total income accruing to each of the top groups. P90-100 denotes to top decile,
P90-95 denotes the bottom half of the top decile, etc.
Those series differ slightly from Table A2 in Piketty and Saez (2001) because of the difference in the denominator:
The denominator we use includes all capital gains while the denominator in Piketty and Saez (2001) included only capital gains going to the top 10%.
                                                  Table A4: Top fractiles income levels (excluding capital gains) in the United States, 1913-2005
                                                          (fractiles are defined by total income (excluding capital gains)) (incomes in 2005 $)


       P90-100   P95-100   P99-100   P99.5-100   P99.9-100   P99.99-100       P0-90     P90-95   P95-99   P99-99.5 P99.5-99.9 P99.9-99.99     P90     P95      P99    P99.5     P99.9     P99.99
         (1)       (2)       (3)        (4)         (5)          (6)            (7)      (8)      (9)      (10)       (11)       (12)         (13)    (14)     (15)    (16)     (17)       (18)
1913                       259,873 426,170 1,246,782 3,986,378                                            93,577 221,017       942,383                        74,423 122,047   385,835   1,622,889
1914                       256,808 426,561 1,216,772 3,859,925                                            87,055 229,008       923,089                        68,809 114,292   369,712   1,613,223
1915                       250,996 416,312 1,316,379 6,226,236                                            85,680 191,295       770,839                        58,004 110,367   406,747   2,063,781
1916                       288,430 484,632 1,532,218 6,840,623                                            92,227 222,736       942,396                        69,581 124,328   466,629   2,555,603
1917   63,735    95,980 278,429 450,378 1,322,240 5,269,369                  10,496    31,490    50,368 106,480 232,412        883,670      25,108   34,772   85,841 139,161   482,988   2,203,395
1918   59,773    87,773 237,920 371,052 1,009,780 3,667,179                  10,002    31,773    50,236 104,787 211,370        714,513      26,583   35,515   85,765 133,193   411,736   1,666,125
1919   57,900    85,960 232,698 358,826          946,486     3,255,967        9,861    29,840    49,276 106,570 211,911        689,877      25,155   34,743   87,160 135,558   432,264   1,538,406
1920   49,842    71,869 189,148 286,574          702,673     2,186,781        8,997    27,814    42,549   91,723 182,549       537,772      25,535   30,930   74,813 119,484   342,296   1,110,828
1921   49,485    70,330 178,646 267,834          646,811     1,950,316        7,330    28,640    43,251   89,459 173,090       501,977      25,047   31,244   73,713 113,739   319,493   1,021,875
1922   55,963    80,925 212,293 322,531          803,775     2,618,196        8,260    31,001    48,083 102,055 202,220        602,173      26,653   34,630   82,533 129,244   372,116   1,182,187
1923   58,826    83,911 217,265 328,213          797,676     2,538,591        9,567    33,742    50,572 106,317 210,847        604,241      28,638   38,978   85,221 135,075   380,792   1,162,817
1924   61,948    88,569 233,622 355,572          879,184     2,876,207        9,026    35,327    52,306 111,672 224,669        657,292      29,767   39,854   89,537 141,866   402,860   1,327,813
1925   63,889    93,926 254,633 388,064          976,712     3,392,262        8,974    33,853    53,749 121,201 240,903        708,317      30,518   39,817   96,144 151,177   420,773   1,400,045
1926   64,414    95,745 263,266 401,889 1,033,124 3,710,822                   9,084    33,082    53,865 124,643 244,080        735,602      29,750   38,628   99,823 155,461   433,214   1,490,752
1927   65,775    98,464 275,068 422,140 1,100,425 4,061,663                   9,054    33,087    54,313 127,995 252,569        771,399      30,301   39,616 102,088 158,215    443,451   1,657,031
1928   69,268 104,508 294,526 456,092 1,231,028 4,847,204                     9,001    34,028    57,003 132,960 262,358        829,230      31,159   41,006 105,062 159,404    452,353   1,886,804
1929   68,559 103,558 288,564 445,371 1,194,162 4,709,337                     9,791    33,560    57,306 131,758 258,173        803,588      30,419   40,583 105,716 160,377    425,897   1,698,727
1930   61,145    88,525 233,130 352,538          908,756     3,390,955        8,979    33,765    52,374 113,722 213,484        632,957      29,969   38,327   93,549 140,421   375,305   1,337,903
1931   57,193    79,886 196,682 291,696          730,948     2,671,804        7,956    34,499    50,687 101,669 181,883        515,297      29,625   37,174   84,754 124,929   312,830   1,102,895
1932   50,156    70,610 167,675 250,215          638,725     2,086,921        6,464    29,703    46,344   85,135 153,087       477,815      20,320   34,703   72,504 104,128   274,536   1,035,420
1933   47,504    68,548 166,388 248,537          638,765     2,157,127        6,444    26,460    44,088   84,238 150,980       470,058      19,764   31,872   70,526 101,305   265,300   993,105
1934   52,325    76,467 183,876 273,378          674,833     2,227,040        7,061    28,182    49,614   94,375 173,014       502,365      23,945   33,940   78,491 116,023   313,683   1,068,031
1935   54,444    77,764 196,083 292,852          727,312     2,441,997        7,891    31,123    48,185   99,314 184,236       536,792      26,298   37,318   82,271 121,258   328,914   1,164,470
1936   61,655    89,936 242,878 368,204          920,906     3,076,540        8,450    33,373    51,700 117,552 230,028        681,391      28,397   40,482   95,800 146,236   414,134   1,498,707
1937   62,599    90,630 237,562 358,578          889,742     2,910,657        9,090    34,568    53,897 116,547 225,787        665,196      30,093   40,404   95,788 146,824   411,586   1,404,721
1938   57,119    80,183 195,653 287,352          684,844     2,213,593        8,413    34,055    51,316 103,955 187,979        514,983      29,478   39,155   87,093 127,718   325,950   980,282
1939   63,077    88,557 217,851 321,698          771,453     2,464,336        8,717    37,596    56,234 114,005 209,259        583,355      33,242   43,895   95,280 140,295   365,362   1,202,366
1940   65,832    92,727 233,149 345,598          825,845     2,628,796        9,150    38,938    57,621 120,699 225,536        625,517      36,884   43,450 100,094 152,224    397,360   1,270,085
1941   71,043 100,512 259,930 386,167            916,093     2,821,421       11,350    41,574    60,658 133,692 253,686        704,390      38,155   47,111 109,310 169,808    447,796   1,393,260
1942   71,420 101,040 259,677 386,133            900,856     2,659,462       14,422    41,800    61,381 133,222 257,452        705,456      38,818   47,087 108,078 169,916    448,919   1,377,354
1943   76,016 107,130 267,225 392,246            880,292     2,263,212       17,407    44,903    67,106 142,204 270,234        726,634      39,641   51,360 115,454 182,152    464,817   1,206,339
1944   72,561 100,086 242,386 349,761            765,295     2,125,375       17,493    45,036    64,512 135,010 245,877        614,175      43,282   51,328 118,838 179,862    440,304   1,221,511
1945   73,476 103,101 249,187 354,219            747,002     1,901,710       16,845    43,850    66,579 144,156 256,023        618,701      41,697   50,873 126,871 194,000    437,463   1,068,741
1946   78,439 111,746 266,530 375,274            777,697     2,076,469       16,462    45,131    73,050 157,785 274,668        633,389      40,649   51,982 131,059 195,710    436,443   1,058,218
1947   72,225 101,935 239,615 337,203            707,809     1,975,082       16,281    42,515    67,515 142,027 244,552        567,001      37,598   47,413 117,792 174,383    385,491   989,957
1948   75,065 105,499 250,879 357,336            765,142     2,123,367       16,394    44,632    69,154 144,421 255,384        614,228      39,550   51,650 120,040 180,653    411,601   1,114,377
1949   74,244 103,184 240,700 341,720            733,740     2,098,760       16,184    45,304    68,805 139,680 243,715        582,071      40,214   52,596 115,690 171,324    392,019   1,076,610
1950   80,392 113,316 269,628 386,180            838,264     1,962,633       17,439    47,469    74,238 153,076 273,159        713,334      43,455   54,058 124,412 191,870    433,864   964,534
1951   80,261 110,879 257,225 362,456            762,281     2,115,761       18,254    49,642    74,293 151,993 262,500        611,894      44,468   54,711 127,947 185,567    412,866   1,084,396
1952   80,928 110,247 246,219 343,546            695,365     1,881,574       19,043    51,609    76,254 148,893 255,591        563,564      47,504   58,344 126,597 186,621    387,619   969,194
1953   82,668 110,683 239,232 329,982            660,264     1,772,013       20,086    54,654    78,546 148,482 247,411        536,737      48,941   60,014 127,186 182,849    372,257   888,324
1954   83,588 112,220 244,379 336,713            667,868     1,837,000       19,628    54,956    79,180 152,045 253,924        537,964      49,209   60,055 129,471 185,619    375,254   900,045
1955   88,391 118,948 255,405 349,700            691,922     2,004,765       21,090    57,834    84,833 161,111 264,144        546,050      52,566   65,653 136,058 194,102    376,865   925,923
1956   93,080 124,946 265,928 359,605            697,354     1,993,378       22,174    61,213    89,701 172,251 275,168        553,352      54,757   68,506 145,474 197,585    390,631   932,723
1957   93,122 124,414 263,958 357,353            693,300     1,948,652       22,306    61,831    89,527 170,563 273,367        553,817      55,957   69,486 143,980 197,847    395,830   949,130
1958   91,505 121,163 251,717 338,655     653,325   1,830,655   21,494   61,848   88,524 164,778 259,988   522,511   55,974   69,806 140,112 189,330   373,638   896,011
1959   96,665 126,891 263,979 356,102     661,247   1,859,400   22,789   66,439   92,619 171,855 279,816   528,119   59,198   74,900 149,505 210,201   381,795   878,547
1960   96,723 125,338 255,320 337,366     640,532   1,822,105   23,201   68,108   92,843 173,273 261,575   509,246   60,275   69,067 148,192 194,893   365,626   862,111
1961   98,606 129,265 257,753 334,453     634,799   1,814,801   23,393   67,946   97,143 181,053 259,367   503,688   60,668   75,629 152,761 190,535   354,817   844,499
1962   102,580 134,086 264,861 345,681    635,165   1,797,886   24,172   71,074 101,393 184,041 273,310    505,974   64,040   78,485 157,316 204,780   370,111   834,500
1963   105,171 137,306 268,235 350,225    645,147   1,866,235   24,821   73,036 104,574 186,244 276,495    509,471   66,125   81,895 159,184 207,339   375,431   851,495
1964   108,972 142,060 276,251 367,374    678,158   1,829,866   26,161   75,884 108,512 185,128 289,677    550,191   68,994   82,607 160,071 216,102   383,296   820,665
1965   112,908 148,307 288,916 388,459    729,784   1,926,804   27,258   77,509 113,155 189,372 303,128    596,782   70,984   86,807 163,072 225,992   394,087   827,713
1966   119,588 156,991 312,911 417,714    805,509   2,254,594   28,260   82,186 118,011 208,108 320,765    644,499   74,062   91,431 177,289 244,157   440,574   1,022,129
1967   122,961 161,715 323,283 431,996    828,800   2,288,682   28,971   84,207 121,324 214,569 332,795    666,591   75,380   93,391 183,225 250,020   451,221   1,051,015
1968   126,730 166,236 330,943 442,095    850,128   2,304,460   29,946   87,224 125,059 219,791 340,086    688,536   78,425   96,510 189,009 252,031   464,984   1,018,122
1969   128,005 166,377 322,514 426,689    804,997   2,200,917   30,474   89,632 127,343 218,338 332,112    649,895   80,738   99,881 187,425 253,165   438,547   933,640
1970   127,249 164,647 315,113 416,396    782,456   2,121,274   30,727   89,851 127,031 213,829 324,881    633,698   80,923 100,679 184,774 249,816    447,789   1,004,577
1971   127,847 165,042 313,483 412,522    770,784   2,085,759   30,530   90,653 127,932 214,444 322,957    624,676   81,427 101,438 186,561 247,430    436,589   964,537
1972   132,615 170,840 325,174 427,657    803,327   2,182,564   31,860   94,389 132,257 222,691 333,740    650,078   85,144 104,923 193,865 256,505    452,880   997,530
1973   136,381 176,147 331,473 434,189    807,641   2,120,283   32,419   96,616 137,315 228,758 340,826    661,792   86,730 108,206 200,194 262,975    467,276   1,068,225
1974   134,441 174,797 337,505 449,457    875,327   2,338,897   31,224   94,086 134,120 225,552 342,990    712,708   84,751 107,912 196,790 261,477    512,680   1,229,991
1975   128,414 165,533 315,155 417,938    802,279   2,203,314   29,471   91,295 128,128 212,371 321,853    646,609   82,090 102,471 185,185 246,931    459,362   1,101,965
1976   130,635 168,007 317,914 421,572    813,678   2,264,444   30,260   93,263 130,530 214,256 323,545    652,482   83,933 104,469 186,943 247,602    460,744   1,127,213
1977   132,002 169,574 321,481 427,462    830,891   2,304,329   30,553   94,431 131,597 215,499 326,604    667,175   84,852 105,827 187,838 249,181    466,840   1,129,099
1978   134,484 172,970 329,681 439,604    861,965   2,406,735   31,119   95,997 133,793 219,758 334,013    690,324   86,256 107,276 191,913 254,264    483,273   1,224,978
1979   131,885 169,863 327,512 439,130    879,845   2,508,914   30,650   93,907 130,451 215,894 328,951    698,837   84,679 104,999 187,150 249,564    473,914   1,134,347
1980   127,659 164,456 317,607 427,751    866,637   2,543,482   28,974   90,861 126,169 207,462 318,029    680,321   82,041 101,576 180,953 239,689    462,103   1,217,064
1981   125,095 160,351 306,878 414,700    850,860   2,508,077   28,584   89,839 123,719 199,055 305,660    666,725   80,605 100,163 173,341 226,805    446,325   1,177,308
1982   124,271 160,085 313,873 428,873    916,668   2,898,307   27,759   88,456 121,638 198,872 306,924    696,485   80,034   98,569 173,183 226,022   449,770   1,311,101
1983   126,087 163,068 321,583 444,338    976,219   3,261,489   27,573   89,107 123,439 198,827 311,368    722,300   80,497   99,497 173,049 226,860   454,175   1,453,188
1984   131,060 170,619 343,077 480,015 1,092,517 3,786,898      28,335   91,502 127,504 206,139 326,890    793,141   82,565 102,930 180,012 236,306    483,640   1,661,080
1985   134,361 175,561 356,757 501,717 1,141,847 3,806,934      28,657   93,162 130,261 211,798 341,685    845,726   83,792 104,819 185,556 240,984    528,849   1,672,494
1986   137,299 179,433 362,596 506,806 1,138,929 3,959,661      28,875   95,164 133,643 218,385 348,775    825,514   85,437 106,359 187,971 244,412    468,724   1,640,057
1987   148,659 199,576 437,885 632,586 1,518,297 5,301,337      28,757   97,742 139,999 243,184 411,158 1,097,959    87,537 109,498 207,746 287,843    662,287   2,263,292
1988   164,515 229,553 560,731 848,620 2,220,349 8,476,947      29,044   99,477 146,759 272,842 505,688 1,525,172    88,653 112,894 228,097 331,706    861,987   3,391,903
1989   162,585 225,370 532,988 792,151 2,003,036 7,355,540      28,893   99,800 148,466 273,825 489,430 1,408,313    88,697 114,439 229,865 333,855    824,035   2,987,371
1990   162,335 226,167 542,623 812,047 2,047,509 7,631,188      28,406   98,503 147,053 273,199 503,181 1,427,100    87,513 112,951 228,621 337,825    841,419   3,152,901
1991   154,920 213,361 491,123 718,549 1,758,706 6,490,309      27,635   96,480 143,921 263,696 458,510 1,232,972    86,843 113,171 222,171 320,620    749,791   2,856,137
1992   161,335 225,934 546,176 819,424 2,112,569 8,171,794      27,094   96,736 145,874 272,928 496,138 1,439,322    86,439 112,161 230,126 341,140    843,901   3,400,323
1993   156,808 217,740 509,218 750,802 1,872,952 6,901,166      26,707   95,876 144,871 267,634 470,265 1,314,262    85,769 111,023 229,109 324,348    777,468   2,856,707
1994   159,311 221,306 517,081 760,252 1,892,871 6,969,390      27,002   97,315 147,362 273,911 477,097 1,328,814    86,736 113,270 234,209 331,781    790,422   2,939,407
1995   167,155 234,690 557,762 823,614 2,054,499 7,483,276      27,238   99,620 153,923 291,910 515,893 1,451,302    88,512 115,993 242,165 348,039    833,351   3,248,230
1996   173,049 245,225 593,174 881,835 2,239,067 8,296,112      27,493   100,874 158,238 304,513 542,527 1,566,062   87,484 118,418 255,292 375,083    938,995   3,783,261
1997   182,144 260,628 644,804 971,026 2,534,516 9,581,920      28,266   103,659 164,584 318,582 580,154 1,751,471   90,143 121,660 265,533 393,794 1,031,249 4,292,269
1998   192,440 277,376 698,693 1,060,785 2,832,414 10,991,595   29,378   107,504 172,046 336,600 617,878 1,925,839   92,977 126,544 280,885 417,172 1,098,516 4,875,910
1999   202,364 293,747 752,817 1,153,057 3,146,814 12,487,658   30,212   110,980 178,979 352,576 654,618 2,108,942   95,700 130,963 293,302 437,198 1,185,997 5,404,125
2000   207,682 303,622 794,633 1,231,696 3,433,582 13,687,114   30,454   111,742 180,869 357,570 681,224 2,294,300   96,312 132,468 297,146 445,833 1,261,171 6,016,646
2001   198,597 285,925 722,877 1,101,222 2,943,051 11,296,273   30,188   111,270 176,687 344,532 640,765 2,014,915   96,005 131,229 288,704 425,889 1,159,008 5,022,772
2002   188,577 268,417 662,468 1,000,761 2,616,838 9,923,442    29,325   108,737 169,904 324,175 596,741 1,804,993   94,725 128,380 276,379 401,767 1,052,025 4,297,720
2003   187,535 267,204 663,482 1,006,933 2,675,697 10,550,222   28,729   107,867 168,134 320,031 589,742 1,800,750   93,809 127,037 273,597 395,375 1,040,294 4,347,325
2004   197,602 285,978 736,993 1,130,309 3,121,872 12,953,180   28,973   109,227 173,225 343,676 632,419 2,029,505   94,402 129,024 291,927 419,337 1,150,329 5,171,198
2005   207,231 304,039 812,497 1,254,107 3,487,479 14,027,614   28,980   110,424 176,925 370,887 695,764 2,316,353   96,563 130,373 310,062 452,444 1,289,372 5,921,844
                                                    Table A5: Top fractiles income levels (including capital gains) in the United States, 1913-2005
                                                 (fractiles are defined by total income (excluding capital gains)) (incomes are expressed in 2005 $)

       P90-100   P95-100   P99-100   P99.5-100   P99.9-100   P99.99-100       P0-90     P90-95   P95-99   P99-99.5 P99.5-99.9 P99.9-99.99     P90       P95       P99      P99.5     P99.9     P99.99
         (1)       (2)       (3)       (4)          (5)         (6)            (7)       (8)       (9)      (10)      (11)     (12)           (13)      (14)      (15)      (16)      (17)       (18)
1913                       259,873   426,170     1,246,782   3,986,378                                    93,577    221,017 942,383                             74,423    122,047   385,835   1,622,889
1914                       256,808   426,561     1,216,772   3,859,925                                    87,055    229,008 923,089                             68,809    114,292   369,712   1,613,223
1915                       250,996   416,329     1,316,455   6,225,809                                    85,663    191,298 770,972                             58,004    110,367   406,747   2,063,781
1916                       298,038   502,841     1,597,787   7,123,506                                    93,235    229,104 983,818                             70,341    127,883   487,139   2,661,286
1917   64,528    97,565    282,782   457,018     1,338,672   5,311,149       10,562    31,490    51,261   108,545   236,605 897,286          25,108    35,389   87,506    141,671   490,430   2,220,865
1918   60,481    88,957    241,238   375,678     1,017,768   3,682,208       10,046    32,006    50,886   106,798   215,155 721,720          26,777    35,975   87,411    135,578   415,889   1,672,954
1919   59,734    89,154    241,692   371,604      974,184    3,323,389       9,987     30,313    51,020   111,780   220,958 713,161          25,554    35,973   91,421    141,346   446,853   1,570,262
1920   51,635    74,806    195,905   294,711      713,504    2,200,325       9,093     28,464    44,532   97,098    190,013 548,302          26,131    32,371   79,198    124,369   348,999   1,117,708
1921   50,244    71,643    182,123   272,442      654,453    1,958,053       7,375     28,844    44,023   91,804    176,940 509,608          25,226    31,802   75,645    116,269   324,350   1,025,929
1922   57,526    83,733    221,641   337,371      845,169    2,780,779       8,400     31,320    49,255   105,911   210,421 630,101          26,927    35,475   85,651    134,486   389,375   1,255,597
1923   60,717    86,896    226,478   342,815      837,837    2,705,773       9,717     34,538    52,001   110,141   219,059 630,289          29,313    40,079   88,287    140,336   397,208   1,239,395
1924   64,380    92,591    247,817   378,256      940,772    3,094,012       9,232     36,169    53,785   117,378   237,627 701,523          30,476    40,981   94,113    150,048   429,970   1,428,364
1925   68,243    101,823   285,190   439,074     1,128,925   4,029,580       9,436     34,663    55,981   131,306   266,611 806,630          31,248    41,470   104,160   167,310   479,175   1,663,077
1926   67,857    101,844   286,135   440,518     1,154,773   4,261,691       9,461     33,870    55,772   131,751   261,955 809,560          30,459    39,996   105,516   166,846   476,769   1,712,053
1927   69,957    105,861   303,311   470,805     1,257,582   4,740,551       9,514     34,052    56,499   135,817   274,111 870,586          31,184    41,211   108,326   171,710   500,471   1,933,995
1928   75,744    116,481   345,281   545,552     1,528,402   6,111,854       9,774     35,007    59,280   145,011   299,839 1,019,130        32,055    42,644   114,584   182,177   555,945   2,379,077
1929   74,230    114,030   333,487   525,133     1,480,881   6,093,120       10,508    34,430    59,166   141,840   286,197 968,410          31,207    41,900   113,805   177,785   513,252   2,197,878
1930   62,992    91,662    243,482   370,067      967,658    3,686,088       9,186     34,322    53,707   116,897   220,670 665,610          30,464    39,303   96,161    145,148   394,667   1,454,348
1931   57,813    80,976    200,453   297,999      751,399    2,775,658       8,044     34,650    51,107   102,906   184,649 526,481          29,755    37,482   85,786    126,829   319,619   1,145,764
1932   50,401    71,018    169,189   252,978      647,495    2,118,089       6,479     29,783    46,475   85,399    154,349 484,096          20,375    34,802   72,730    104,986   278,145   1,050,884
1933   48,457    70,294    172,642   259,404      674,753    2,298,954       6,536     26,620    44,707   85,881    155,567 494,287          19,884    32,319   71,901    104,383   278,974   1,058,400
1934   52,888    77,521    187,334   279,121      689,903    2,264,164       7,132     28,254    50,068   95,546    176,426 514,985          24,006    34,251   79,465    118,311   321,562   1,085,834
1935   55,757    80,261    204,456   306,658      763,677    2,529,508       8,032     31,252    49,213   102,254   192,404 567,473          26,407    38,114   84,707    126,633   347,714   1,206,200
1936   64,448    94,841    259,280   394,764      987,265    3,217,522       8,700     34,055    53,731   123,797   246,638 739,459          28,977    42,072   100,889   156,796   449,426   1,567,385
1937   63,646    92,362    243,641   367,891      911,187    2,961,165       9,169     34,931    54,542   119,391   232,067 683,412          30,410    40,888   98,126    150,908   422,857   1,429,097
1938   58,270    82,173    202,965   299,475      723,630    2,426,425       8,539     34,366    51,975   106,455   193,437 534,431          29,748    39,658   89,188    131,426   338,259   1,074,533
1939   64,228    90,496    224,442   331,951      797,491    2,545,438       8,809     37,959    57,010   116,933   215,566 603,275          33,563    44,501   97,728    144,524   377,838   1,241,937
1940   66,850    94,507    239,338   355,409      852,121    2,734,598       9,242     39,192    58,299   123,268   231,231 642,957          37,125    43,961   102,224   156,067   408,439   1,321,203
1941   72,216    102,604   267,121   397,785      952,003    2,991,958       11,465    41,829    61,474   136,458   259,230 725,341          38,337    47,745   111,570   173,519   461,115   1,477,474
1942   72,183    102,512   264,746   394,106      925,631    2,771,290       14,506    41,854    61,953   135,387   261,225 720,557          38,871    47,526   109,834   172,405   458,529   1,435,271
1943   77,840    110,373   278,084   409,036      927,809    2,435,145       17,576    45,306    68,445   147,132   279,343 760,327          39,996    52,385   119,454   188,291   486,370   1,297,982
1944   74,335    103,219   252,169   365,020      807,174    2,281,741       17,669    45,451    65,982   139,317   254,481 643,333          43,639    52,448   122,512   185,977   460,765   1,310,120
1945   77,367    109,998   270,242   387,079      836,377    2,203,554       17,265    44,735    69,937   153,405   274,755 684,468          42,446    53,324   134,720   207,745   482,919   1,235,699
1946   83,611    120,328   289,970   410,997      880,281    2,492,838       17,044    46,894    77,917   168,943   293,676 701,108          42,226    55,431   140,290   209,200   482,979   1,270,078
1947   75,115    106,811   253,254   358,630      774,093    2,247,422       16,658    43,420    70,200   147,879   254,764 610,390          38,398    49,298   122,645   181,665   414,990   1,126,460
1948   77,859    110,309   264,392   378,569      826,661    2,362,029       16,730    45,410    71,788   150,215   266,546 656,065          40,240    53,617   124,855   188,549   439,636   1,239,631
1949   76,194    106,532   250,808   357,729      780,333    2,283,414       16,432    45,856    70,462   143,887   252,078 613,325          40,704    53,863   119,174   177,202   413,068   1,171,332
1950   84,244    119,536   291,708   419,243      934,780    2,256,034       17,846    48,953    76,492   164,174   290,358 787,974          44,813    55,700   133,432   203,951   479,261   1,108,725
1951   83,459    116,596   276,188   392,032      846,864    2,433,010       18,679    50,321    76,698   160,344   278,324 670,626          45,076    56,482   134,977   196,752   452,494   1,246,997
1952   83,466    114,669   261,428   367,858      769,966    2,145,383       19,393    52,263    77,979   154,998   267,331 617,142          48,106    59,665   131,788   195,192   424,470   1,105,081
1953   84,681    114,235   251,229   349,861      721,745    2,003,475       20,371    55,127    79,987   152,597   256,889 579,331          49,364    61,115   130,711   189,854   401,798   1,004,358
1954   87,073    118,845   265,374   370,449      774,629    2,217,857       20,063    55,302    82,212   160,299   269,404 614,271          49,519    62,355   136,500   196,934   428,481   1,086,647
1955   93,854    128,194   286,440   399,473      846,363    2,545,007       21,643    59,514    88,632   173,406   287,751 657,625          54,092    68,593   146,441   211,449   453,870   1,175,440
1956   97,442    132,530   292,692   408,110      842,841    2,479,307       22,759    62,354    92,489   177,275   299,427 661,012          55,777    70,636   149,716   215,004   466,632   1,160,094
1957   96,407    130,365   283,500   392,264      800,380    2,304,985       22,736    62,450    92,081   174,737   290,235 633,202          56,517    71,468   147,502   210,055   452,569   1,122,689
1958   95,292    128,209 274,462    378,775 771,627    2,228,575    22,027   62,375    91,646    170,149   280,561    609,744    56,451    72,268    144,679   204,312    436,017    1,090,772
1959   102,225   137,818 298,082    415,732 835,142    2,433,510    23,530   66,632    97,752    180,432   310,879    657,545    59,370    79,052    156,967   233,536    475,361    1,149,808
1960   101,590   134,436 284,405    388,446 796,075    2,395,822    23,783   68,743    96,944    180,365   286,538    618,326    60,836    72,118    154,257   213,493    443,942    1,133,559
1961   105,275   141,179 298,859    408,332 857,423    2,639,969    24,223   69,370    101,759   189,386   296,060    659,362    61,940    79,222    159,792   217,490    464,480    1,228,483
1962   107,170   142,438 294,640    400,197 805,739    2,421,253    24,803   71,901    104,388   189,084   298,811    626,238    64,788    80,807    161,634   223,898    458,103    1,123,890
1963   110,398   146,561 301,147    407,547 817,601    2,485,562    25,496   74,235    107,915   194,746   305,034    632,272    67,215    84,517    166,462   228,755    465,953    1,134,144
1964   117,206   156,427 325,988    441,343 889,579    2,713,448    26,764   77,985    114,037   210,633   329,284    686,927    70,910    86,820    182,140   245,670    478,597    1,217,044
1965   123,256   165,110 349,113    475,055 982,999    3,081,330    27,998   81,403    119,109   223,172   348,069    749,851    74,558    91,385    192,198   259,524    495,219    1,323,813
1966   127,961   172,198 367,334    505,431 1,072,475 3,254,459     29,105   83,723    123,414   229,237   363,670    830,032    75,455    95,626    195,307   276,842    567,457    1,475,563
1967   135,134   183,432 397,906    551,605 1,163,080 3,393,406     29,954   86,836    129,814   244,208   398,736    915,266    77,742    99,938    208,558   299,593    619,622    1,558,506
1968   141,886   193,173 425,449    594,300 1,267,358 3,680,496     31,174   90,600    135,104   256,598   426,036    999,231    81,470    104,275   220,689   315,768    674,891    1,626,273
1969   139,004   186,496 396,954    552,185 1,176,476 3,664,552     31,474   91,513    133,882   241,723   396,112    900,023    82,440    105,019   207,519   301,979    607,391    1,554,670
1970   132,509   174,182 350,410    473,927 949,667    2,761,052    31,419   90,837    130,125   226,893   354,993    748,402    81,815    103,136   196,072   272,984    528,869    1,307,627
1971   135,549   178,828 361,799    490,294 994,580    2,897,370    31,396   92,271    133,085   233,305   364,222    783,159    82,886    105,531   202,983   279,064    547,390    1,339,948
1972   142,300   187,697 381,560    516,771 1,049,796 3,144,957     32,915   96,903    139,232   246,349   383,515    817,000    87,419    110,465   214,477   294,783    569,210    1,437,493
1973   143,780   189,075 371,591    497,725 974,890    2,665,461    33,525   98,484    143,446   245,458   378,434    787,049    88,413    113,044   214,822   292,009    555,751    1,342,973
1974   139,275   183,139 364,946    492,280 986,971    2,724,357    32,068   95,410    137,687   237,611   368,607    793,928    85,947    110,787   207,321   281,019    571,130    1,432,761
1975   132,695   172,813 338,990    454,791 903,470    2,605,592    30,276   92,577    131,269   223,189   342,621    714,346    83,247    104,987   194,626   262,875    507,504    1,303,214
1976   136,095   177,158 347,213    467,314 935,511    2,716,120    31,215   95,031    134,645   227,112   350,265    737,666    85,529    107,767   198,170   268,062    520,920    1,352,114
1977   137,804   179,338 352,592    475,080 955,599    2,728,908    31,530   96,271    136,024   230,105   354,950    758,565    86,509    109,392   200,577   270,819    530,810    1,337,197
1978   140,171   182,377 359,111    484,917 977,637    2,780,748    32,156   97,964    138,194   233,305   361,737    777,291    88,026    110,810   203,752   275,379    544,177    1,415,399
1979   141,172   186,180 384,712    533,744 1,173,798 3,843,774     31,830   96,165    136,546   235,680   373,730    877,134    86,716    109,907   204,306   283,542    594,835    1,737,902
1980   136,220   179,509 371,718    516,826 1,124,368 3,549,960     29,986   92,931    131,456   226,611   364,940    854,858    83,909    105,831   197,652   275,041    580,650    1,698,646
1981   132,868   174,030 356,108    495,758 1,085,467 3,424,416     29,540   91,707    128,510   216,458   348,331    825,584    82,296    104,062   188,532   258,518    552,776    1,607,753
1982   134,035   177,963 381,596    544,801 1,283,695 4,431,695     28,562   90,107    127,055   218,390   360,078    933,917    81,519    102,946   190,157   265,133    603,025    2,004,516
1983   138,978   186,368 408,499    588,507 1,406,952 4,942,975     28,701   91,588    130,835   228,492   383,896   1,014,061   82,725    105,442   198,837   279,660    637,533    2,202,050
1984   144,995   195,627 436,191    638,999 1,586,994 5,682,727     29,485   94,364    135,486   233,383   402,001   1,131,912   85,119    109,338   203,736   290,508    689,990    2,491,849
1985   151,448   205,940 467,064    688,268 1,713,993 5,983,177     29,954   96,955    140,659   245,861   431,836   1,239,639   87,167    113,140   215,311   304,441    774,853    2,627,502
1986   170,676   240,069 592,423    900,240 2,205,109 8,726,510     31,121   101,284   151,980   284,606   574,023   1,480,509   90,862    120,861   244,783   401,955    839,989    3,611,701
1987   159,870   219,131 503,554    740,175 1,819,295 6,445,190     29,854   100,609   148,025   266,933   470,395   1,305,306   90,063    115,722   227,930   329,163    786,999    2,750,376
1988   178,343   254,710 656,954 1,013,118 2,734,810 10,708,257     29,999   101,977   154,148   300,790   582,695   1,848,872   90,841    118,526   251,351   382,050   1,044,474   4,282,839
1989   174,063   245,946 611,134    923,417 2,420,205 9,284,648     29,818   102,181   154,649   298,851   549,220   1,657,489   90,775    119,154   250,768   374,482    969,425    3,769,271
1990   170,328   240,584 597,310    904,765 2,335,035 8,997,346     29,133   100,072   151,402   289,854   547,198   1,594,778   88,882    116,260   242,491   367,276    940,024    3,716,321
1991   161,177   224,255 528,552    779,618 1,939,409 7,133,155     28,272   98,099    148,180   277,487   489,670   1,362,326   88,267    116,477   233,701   342,279    828,140    3,137,840
1992   168,670   238,999 595,133    901,926 2,370,979 9,201,095     27,747   98,341    149,965   288,341   534,662   1,612,077   87,831    115,251   243,004   367,451    944,732    3,826,763
1993   165,240   232,858 564,558    845,712 2,174,559 8,120,488     27,480   97,622    149,932   283,405   513,500   1,513,900   87,285    114,840   242,479   353,977    895,084    3,359,631
1994   167,369   235,436 569,054    848,291 2,158,602 8,059,413     27,741   99,302    152,031   289,817   520,714   1,502,957   88,459    116,795   247,674   361,916    893,521    3,397,280
1995   178,168   253,981 627,567    939,311 2,396,579 8,711,319     27,908   102,355   160,584   315,823   574,994   1,694,941   90,342    120,434   261,103   386,145    968,375    3,757,142
1996   189,907   275,217 704,434 1,070,174 2,823,340 10,738,212     28,325   104,597   167,912   338,694   631,882   1,943,910   89,986    123,224   275,129   423,464   1,119,451   4,756,426
1997   205,670   302,704 798,160 1,230,064 3,358,052 12,612,665     29,361   108,636   178,840   366,256   698,067   2,329,761   93,403    128,340   293,293   457,740   1,288,256   5,615,213
1998   220,662   327,523 880,301 1,365,377 3,772,648 14,512,482     30,761   113,801   189,329   395,225   763,560   2,579,333   97,135    134,814   315,070   495,954   1,394,498   6,401,772
1999   234,267   350,549 955,929 1,492,448 4,161,823 16,129,929     31,802   117,984   199,204   419,409   825,104   2,832,034   100,875   141,268   334,514   530,484   1,530,220   7,054,993
2000   241,697   365,603 1,029,616 1,630,310 4,685,701 18,329,784   32,436   117,791   199,600   428,922   866,463   3,169,692   101,809   143,248   342,591   552,081   1,675,306   8,207,129
2001   214,205   314,288 832,039 1,288,966 3,520,281 13,622,409     31,360   114,122   184,851   375,113   731,137   2,397,822   98,436    135,883   307,935   474,422   1,350,038   6,015,296
2002   200,343   289,833 744,696 1,140,077 3,042,373 11,648,533     30,076   110,852   176,118   349,315   664,503   2,086,133   96,572    131,975   292,152   440,157   1,193,767   5,044,530
2003   201,391   292,488 760,756 1,171,373 3,169,036 12,535,715     29,634   110,294   175,420   350,139   671,957   2,128,294   95,927    131,220   292,405   441,554   1,207,455   5,164,756
2004   217,896   322,805 878,386 1,373,324 3,833,495 15,682,479     30,482   112,987   183,910   383,448   758,282   2,516,941   97,645    135,224   317,798   485,300   1,403,064   6,260,157
2005   232,525   349,547 980,506 1,545,553 4,366,405 17,387,212     30,735   115,504   191,807   415,460   840,340   2,919,649   101,017   138,918   341,382   525,890   1,589,162   7,340,588
                                                    Table A6: Top fractiles income levels (including capital gains) in the United States, 1913-2005
                                                 (fractiles are defined by total income (including capital gains)) (incomes are expressed in 2005 $)

       P90-100   P95-100   P99-100   P99.5-100   P99.9-100   P99.99-100       P0-90    P90-95   P95-99   P99-99.5 P99.5-99.9 P99.9-99.99      P90       P95       P99      P99.5     P99.9     P99.99
         (1)       (2)       (3)       (4)          (5)         (6)            (7)      (8)       (9)      (10)      (11)     (12)            (13)      (14)      (15)      (16)      (17)       (18)
1913                       259,873   426,170     1,246,782   3,986,378                                    93,577   221,017 942,383                              74,423    122,047   385,835   1,622,889
1914                       256,808   426,561     1,216,772   3,859,925                                    87,055   229,008 923,089                              68,809    114,292   369,712   1,613,223
1915                       250,996   416,329     1,316,455   6,225,809                                    85,663   191,298 770,972                              58,004    110,367   406,747   2,063,781
1916                       304,686   516,633     1,659,009   7,543,858                                    92,739   231,039 1,005,137                            69,967    128,963   497,695   2,818,326
1917   64,645    97,800    283,063   457,780     1,340,783   5,370,453       10,549   31,490    51,485   108,346   237,030 893,042          25,108     35,543   87,346    141,926   488,110   2,245,663
1918   60,521    89,010    240,857   375,120     1,013,510   3,703,404       10,042   32,032    51,049   106,594   215,523 714,633          26,799     36,090   87,243    135,810   411,805   1,682,583
1919   60,318    90,271    245,529   378,175      991,903    3,420,983       9,922    30,366    51,456   112,884   224,743 722,005          25,598     36,280   92,324    143,767   452,395   1,616,374
1920   52,073    75,609    197,936   297,454      715,037    2,219,494       9,044    28,536    45,027    98,417   193,059 547,875          26,198     32,731   80,274    126,363   348,727   1,127,445
1921   50,357    71,846    182,365   272,840      653,284    1,968,962       7,362    28,867    44,216    91,890   177,729 507,098          25,246     31,941   75,716    116,788   322,752   1,031,645
1922   58,206    85,056    227,087   347,675      883,372    3,027,572       8,325    31,356    49,549   106,499   213,751 645,128          26,958     35,686   86,126    136,614   398,661   1,367,031
1923   61,434    88,242    231,777   352,881      875,162    2,960,420       9,638    34,626    52,358   110,673   222,311 643,467          29,388     40,355   88,714    142,419   405,513   1,356,038
1924   65,487    94,711    256,937   395,237     1,000,878   3,428,590       9,109    36,263    54,154   118,637   243,827 731,132          30,555     41,263   95,122    153,963   448,117   1,582,824
1925   71,000    107,248   310,083   485,872     1,305,599   5,071,196       9,130    34,753    56,539   134,294   280,941 887,199          31,329     41,883   106,531   176,303   527,037   2,092,970
1926   69,941    105,924   304,625   475,787     1,294,297   5,147,222       9,230    33,958    56,249   133,463   271,159 866,194          30,537     40,338   106,887   172,709   510,122   2,067,798
1927   72,610    111,061   327,121   516,450     1,439,786   5,841,040       9,220    34,159    57,046   137,791   285,617 950,758          31,282     41,610   109,901   178,917   546,559   2,382,960
1928   80,690    126,264   391,923   635,158     1,889,348   8,225,581       9,224    35,116    59,850   148,688   321,611 1,185,323        32,155     43,054   117,490   195,405   646,604   3,201,858
1929   78,849    123,171   377,331   609,948     1,842,300   8,423,883       9,995    34,526    59,631   144,714   301,860 1,111,013        31,295     42,230   116,111   187,516   588,831   3,038,618
1930   63,896    93,409    250,881   384,675     1,030,464   4,143,485       9,085    34,384    54,041   117,087   223,228 684,572          30,519     39,547   96,317    146,831   405,910   1,634,814
1931   57,999    81,330    201,801   301,190      767,364    2,929,539       8,023    34,667    51,212   102,413   184,647 527,122          29,769     37,559   85,375    126,827   320,009   1,209,285
1932   50,411    71,029    169,114   252,716      648,967    2,162,824       6,478    29,792    46,508    85,513   153,653 480,761          20,381     34,827   72,826    104,513   276,229   1,073,079
1933   48,922    71,206    176,586   267,446      709,010    2,514,961       6,484    26,638    44,862    85,727   157,055 508,348          19,897     32,431   71,772    105,381   286,911   1,157,846
1934   53,601    78,940    191,969   287,890      717,570    2,427,262       7,053    28,262    50,683    96,047   180,470 527,604          24,013     34,672   79,882    121,023   329,442   1,164,051
1935   56,972    82,677    213,530   323,545      818,493    2,801,532       7,897    31,266    49,964   103,514   199,807 598,155          26,419     38,696   85,751    131,506   366,514   1,335,915
1936   66,511    98,891    275,333   424,193     1,079,910   3,621,359       8,471    34,131    54,781   126,473   260,264 797,527          29,041     42,894   103,070   165,458   484,718   1,764,110
1937   64,653    94,334    250,672   380,733      949,294    3,178,290       9,057    34,972    55,250   120,610   238,592 701,628          30,445     41,419   99,128    155,152   434,128   1,533,885
1938   59,552    84,704    212,875   318,222      795,005    2,965,141       8,396    34,401    52,661   107,527   199,027 553,879          29,778     40,182   90,085    135,224   350,568   1,313,102
1939   65,324    92,648    232,138   346,088      842,654    2,817,787       8,688    38,000    57,776   118,188   221,947 623,194          33,599     45,099   98,776    148,802   390,314   1,374,817
1940   67,954    96,687    247,222   370,076      900,963    3,066,055       9,120    39,221    59,053   124,368   237,354 660,397          37,152     44,530   103,137   160,200   419,518   1,481,344
1941   73,546    105,212   276,879   416,116     1,018,461   3,467,974       11,317   41,880    62,295   137,643   265,529 746,293          38,358     48,383   112,539   177,736   474,435   1,712,538
1942   73,243    104,623   272,245   408,175      975,474    3,133,805       14,388   41,864    62,717   136,314   266,351 735,659          38,877     48,113   110,587   175,788   468,139   1,623,020
1943   79,516    113,681   290,532   431,820     1,006,136   2,915,179       17,390   45,351    69,468   149,244   288,241 794,020          40,036     53,168   121,169   194,289   507,923   1,553,850
1944   75,870    106,247   263,247   385,386      876,392    2,716,811       17,498   45,492    66,997   141,107   262,635 671,901          43,679     53,255   124,086   191,936   481,226   1,559,926
1945   80,122    115,421   291,310   425,384      968,065    2,940,592       16,959   44,822    71,448   157,236   289,713 748,896          42,529     54,476   138,083   219,055   528,375   1,649,012
1946   86,980    126,871   314,673   455,639     1,040,866   3,490,703       16,669   47,089    79,920   173,707   309,333 768,662          42,401     56,856   144,246   220,353   529,515   1,778,481
1947   77,295    111,070   269,032   387,677      881,739    2,933,384       16,416   43,520    71,580   150,387   264,162 653,779          38,487     50,267   124,725   188,367   444,489   1,470,280
1948   79,983    114,469   279,662   406,626      926,330    2,982,197       16,495   45,496    73,171   152,698   276,699 697,901          40,316     54,650   126,919   195,732   467,671   1,565,105
1949   77,871    109,825   262,781   379,872      858,542    2,784,224       16,246   45,917    71,586   145,689   260,204 644,578          40,759     54,722   120,668   182,915   434,117   1,428,235
1950   87,079    125,040   313,893   458,855     1,075,023   2,986,707       17,531   49,118    77,827   168,931   304,813 862,613          44,964     56,671   137,297   214,104   524,659   1,467,814
1951   86,080    121,763   296,524   429,126      978,697    3,222,745       18,387   50,397    78,073   163,923   291,733 729,358          45,143     57,495   137,989   206,232   492,122   1,651,762
1952   85,686    119,037   278,407   399,200      884,476    2,808,277       19,146   52,336    79,195   157,614   277,882 670,720          48,173     60,595   134,012   202,896   461,322   1,446,536
1953   86,589    117,999   265,390   376,420      818,842    2,591,097       20,159   55,179    81,151   154,360   265,814 621,925          49,411     62,004   132,221   196,450   431,340   1,298,938
1954   90,025    124,710   288,348   412,860      934,329    3,128,091       19,735   55,340    83,800   163,837   282,493 690,577          49,554     63,560   139,513   206,503   481,709   1,532,619
1955   97,958    136,215   319,163   459,652     1,072,283   3,800,036       21,187   59,700    90,478   178,675   306,494 769,199          54,262     70,022   150,891   225,222   530,875   1,755,089
1956   101,146   139,811   322,584   465,741     1,053,804   3,619,995       22,347   62,480    94,118   179,428   318,725 768,672          55,891     71,880   151,534   228,861   542,633   1,693,834
1957   99,306    136,093   305,876   435,226      958,273    3,169,449       22,414   62,519    93,647   176,525   304,465 712,587          56,579     72,683   149,012   220,354   509,308   1,543,744
1958   98,515    134,596 299,574    426,698   944,728 3,174,475     21,669   62,434    93,351    172,451   297,191    696,978    56,504    73,612    146,637   216,422    498,396    1,553,742
1959   106,770   146,886 334,325    484,541 1,083,224 3,749,495     23,025   66,654    100,026   184,108   334,871    786,971    59,389    80,890    160,165   251,559    568,927    1,771,597
1960   105,659   142,505 316,726    450,048 1,025,512 3,708,468     23,331   68,813    98,949    183,404   306,182    727,405    60,898    73,609    156,856   228,130    522,258    1,754,625
1961   110,741   151,953 343,997    495,038 1,180,408 4,468,759     23,616   69,529    103,942   192,957   323,695    815,036    62,081    80,922    162,805   237,791    574,143    2,079,493
1962   111,346   150,699 328,741    466,233 1,055,376 3,835,037     24,339   71,993    106,189   191,248   318,947    746,525    64,871    82,202    163,484   238,985    546,095    1,780,136
1963   114,823   155,277 337,028    475,661 1,069,184 3,895,878     25,005   74,369    109,839   198,395   327,280    755,107    67,336    86,024    169,581   245,438    556,476    1,777,661
1964   123,263   168,308 375,238    528,906 1,207,623 4,662,828     26,091   78,219    116,575   221,570   359,227    823,711    71,123    88,752    191,598   268,010    573,898    2,091,386
1965   130,511   179,186 408,705    579,745 1,371,546 5,588,602     27,192   81,837    121,806   237,666   381,794    902,984    74,955    93,454    204,680   284,670    596,352    2,400,998
1966   131,289   178,733 396,738    562,938 1,319,940 5,029,300     28,735   83,845    124,231   230,539   373,687    907,788    75,565    96,259    196,417   284,467    620,615    2,280,271
1967   139,405   191,857 434,574    621,237 1,488,172 5,732,297     29,480   86,954    131,178   247,911   404,503   1,016,602   77,848    100,987   211,721   303,926    688,225    2,632,700
1968   147,211   204,050 473,684    687,662 1,699,450 6,822,235     30,582   90,373    136,641   259,707   434,715   1,130,252   81,266    105,462   223,363   322,201    763,384    3,014,489
1969   143,274   194,955 437,115    628,831 1,559,746 6,579,725     31,000   91,594    134,415   245,399   396,102   1,001,971   82,513    105,437   210,675   301,972    676,191    2,791,418
1970   135,495   179,923 374,803    519,188 1,152,549 4,137,344     31,087   91,066    131,203   230,419   360,847    820,905    82,022    103,991   199,119   277,487    580,105    1,959,435
1971   139,385   186,122 392,984    548,871 1,249,202 4,656,538     30,969   92,648    134,407   237,097   373,788    870,609    83,224    106,579   206,281   286,394    608,513    2,153,511
1972   147,285   197,502 422,645    594,657 1,370,780 5,166,606     32,361   97,069    141,216   250,633   400,626    949,022    87,568    112,039   218,206   307,935    661,190    2,361,546
1973   148,500   197,927 408,196    561,684 1,229,642 4,193,999     33,001   99,073    145,360   254,707   394,694    900,269    88,941    114,553   222,917   304,557    635,697    2,113,116
1974   142,523   189,278 390,336    539,723 1,167,373 3,760,494     31,707   95,768    139,014   240,949   382,811    879,248    86,270    111,854   210,233   291,847    632,507    1,977,674
1975   135,463   178,127 359,501    491,716 1,039,085 3,430,164     29,968   92,799    132,783   227,287   354,874    773,409    83,446    106,198   198,199   272,276    549,465    1,715,632
1976   139,345   183,281 369,525    506,182 1,082,085 3,586,200     30,854   95,408    136,720   232,868   362,206    803,850    85,869    109,428   203,193   277,201    567,657    1,785,250
1977   141,578   186,540 380,472    524,186 1,141,585 3,893,750     31,110   96,615    138,057   236,759   369,836    835,789    86,819    111,027   206,378   282,178    584,848    1,907,984
1978   143,846   189,320 384,488    529,341 1,137,489 3,678,742     31,747   98,373    140,528   239,635   377,304    855,127    88,394    112,681   209,280   287,230    598,670    1,872,477
1979   146,307   196,130 425,837    607,989 1,470,787 5,870,963     31,260   96,485    138,703   243,685   392,289    981,878    87,005    111,643   211,245   297,622    665,869    2,654,465
1980   140,644   188,167 406,950    580,640 1,384,593 5,183,735     29,495   93,121    133,471   233,260   379,652    962,466    84,080    107,453   203,452   286,129    653,741    2,480,402
1981   137,736   183,706 399,410    576,832 1,421,953 5,446,133     29,000   91,765    129,780   221,988   365,552    974,821    82,349    105,090   193,349   271,299    652,699    2,556,944
1982   138,181   186,401 422,214    623,011 1,633,105 6,780,706     28,101   89,961    127,447   221,417   370,487   1,061,150   81,386    103,264   192,793   272,797    685,178    3,067,006
1983   144,540   197,464 459,073    685,759 1,835,809 7,485,535     28,083   91,616    132,062   232,388   398,246   1,208,062   82,751    106,431   202,227   290,114    759,500    3,334,737
1984   150,749   207,532 491,997    741,865 2,044,053 8,837,293     28,846   93,965    136,416   242,128   416,318   1,289,249   84,759    110,088   211,371   300,855    785,899    3,875,111
1985   158,143   219,921 533,401    810,496 2,239,050 9,414,999     29,210   96,364    141,551   256,307   453,357   1,441,722   86,636    113,857   224,459   319,613    901,168    4,134,581
1986   183,141   265,839 717,485 1,137,914 3,334,711 15,075,687     29,736   100,443   152,927   297,056   588,715   2,030,159   90,108    121,614   255,491   412,242   1,151,841   6,239,479
1987   163,903   227,467 542,640    809,829 2,099,493 8,175,933     29,406   100,340   148,673   275,452   487,413   1,424,333   89,822    116,229   235,204   341,071    858,763    3,488,941
1988   182,152   262,628 694,618 1,084,201 3,048,232 12,833,855     29,576   101,676   154,631   305,035   593,193   1,960,941   90,573    118,897   254,899   388,933   1,107,785   5,132,986
1989   177,343   252,605 640,916    980,318 2,654,286 10,860,178    29,453   102,082   155,527   301,514   561,826   1,742,520   90,687    119,831   253,003   383,078   1,019,158   4,408,886
1990   172,905   245,728 619,795    946,738 2,519,257 10,093,119    28,847   100,083   152,211   292,852   553,608   1,677,717   88,892    116,881   245,000   371,578    988,911    4,168,926
1991   164,360   230,445 555,301    830,053 2,129,161 8,133,857     27,918   98,275    149,232   280,549   505,275   1,461,973   88,425    117,303   236,280   353,187    888,714    3,578,043
1992   170,798   243,207 613,813    937,114 2,523,520 10,305,285    27,510   98,388    150,556   290,512   540,513   1,658,879   87,873    115,705   244,834   371,472    972,159    4,286,000
1993   167,848   237,904 587,353    889,201 2,364,234 9,563,169     27,190   97,792    150,542   285,505   520,442   1,564,353   87,436    115,307   244,276   358,763    924,914    3,956,500
1994   170,077   240,986 593,526    895,318 2,378,786 9,569,960     27,440   99,167    152,851   291,735   524,451   1,579,766   88,338    117,425   249,313   364,513    939,185    4,034,020
1995   180,812   259,528 654,057    993,494 2,664,487 10,574,657    27,614   102,097   160,895   314,621   575,746   1,785,580   90,307    120,656   260,611   387,031   1,021,332   4,565,878
1996   193,430   282,530 742,289 1,148,286 3,220,574 13,602,922     27,933   104,331   167,590   336,292   630,214   2,066,980   89,245    121,661   276,472   417,808   1,141,172   5,502,671
1997   209,791   311,473 846,562 1,330,721 3,846,299 16,569,396     28,903   108,110   177,700   362,403   701,826   2,432,622   92,663    126,907   297,515   454,064   1,309,847   6,593,560
1998   225,827   339,255 949,655 1,510,353 4,475,636 19,517,472     30,187   112,398   186,655   388,956   769,032   2,804,320   95,937    132,756   314,069   491,321   1,463,040   7,734,119
1999   241,866   366,601 1,043,267 1,669,310 5,008,137 21,933,372   30,958   117,131   197,434   417,223   834,603   3,127,556   99,475    137,988   336,745   526,745   1,614,278   8,654,326
2000   254,040   390,673 1,148,400 1,862,861 5,804,165 27,070,450   31,064   117,407   201,241   433,938   877,535   3,441,244   102,048   144,640   355,779   547,687   1,755,153   9,926,183
2001   222,521   331,168 904,520 1,422,211 4,154,735 18,368,408     30,436   113,874   187,829   386,829   739,080   2,575,438   99,240    138,293   320,138   483,202   1,399,499   6,896,687
2002   206,405   302,108 794,389 1,228,254 3,457,820 14,799,713     29,403   110,701   179,038   360,525   670,862   2,197,609   96,436    132,956   299,188   449,153   1,229,310   5,768,883
2003   208,431   306,746 820,486 1,279,879 3,682,542 16,346,049     28,852   110,116   178,311   361,092   679,213   2,275,486   95,768    132,171   299,203   450,529   1,253,158   6,058,310
2004   228,390   344,069 972,304 1,549,740 4,658,966 21,372,669     29,316   112,711   187,011   394,868   772,433   2,801,888   97,405    136,158   325,060   496,236   1,490,160   7,781,790
2005   246,853   378,507 1,111,560 1,798,189 5,566,963 25,726,965   29,143   115,199   195,243   424,930   855,996   3,326,963   100,714   139,872   348,440   534,912   1,703,278   9,545,010
                                     Table A7: Income composition by sources of income and by fractiles of total income in the United States, 1916-2005
                     (wage income, entrepreneurial income, dividends, interest and rents are expressed in % of total income (excluding capital gains) of each fractile)


                   P90-100                                          P95-100                                       P99-100                                       P99.5-100
       Wage Entrep. Divid. Interest Rents               Wage Entrep. Divid. Interest Rents            Wage Entrep. Divid. Interest Rents             Wage Entrep. Divid. Interest Rents
1916                                             1916                                          1916   19.5   32.8   32.4    9.3    6.0        1916   16.5   31.7   36.7    9.5    5.6
1917                                             1917   31.4   31.4   23.5    7.7    5.9       1917   24.4   22.2   37.3    11.4   4.6        1917   21.7   19.0   43.1    12.0   4.1
1918   46.1   25.8   14.4    8.0    5.6          1918   38.2   28.2   19.0    9.0    5.7       1918   27.6   26.7   29.8    10.9   5.0        1918   25.7   24.2   34.5    11.3   4.3
1919   47.7   28.3   12.1    7.1    4.8          1919   39.4   31.7   15.8    8.2    5.0       1919   28.7   31.8   24.9    10.2   4.4        1919   26.0   30.4   28.7    10.8   4.0
1920   52.0   22.4   13.8    7.4    4.4          1920   44.7   25.4   17.1    8.2    4.7       1920   32.1   26.6   27.3    9.6    4.4        1920   28.8   25.8   31.2    10.0   4.2
1921   58.0   17.6   11.9    7.4    5.0          1921   49.0   20.5   16.4    8.7    5.4       1921   35.5   22.5   26.4    10.2   5.4        1921   31.5   22.0   30.7    10.7   5.2
1922   54.3   19.1   12.6    7.7    6.3          1922   45.7   21.6   16.9    8.8    7.0       1922   32.0   22.1   27.4    10.5   8.0        1922   28.0   21.2   31.9    10.9   8.0
1923   45.6   24.3   14.0    8.3    7.7          1923   39.6   25.4   17.8    9.1    8.0       1923   32.2   20.9   29.0    9.9    8.0        1923   28.1   20.0   34.0    10.1   7.8
1924   44.3   25.1   13.8    8.6    8.3          1924   39.4   25.7   17.4    9.2    8.3       1924   31.4   22.3   29.0    9.8    7.5        1924   27.6   20.5   34.5    10.1   7.3
1925   43.2   25.7   14.8    8.3    8.1          1925   39.3   26.0   18.3    8.6    7.9       1925   29.7   23.7   29.5    9.5    7.5        1925   25.9   22.2   34.8    9.8    7.3
1926   43.2   23.7   16.7    8.6    7.8          1926   39.1   24.2   20.3    8.8    7.6       1926   29.4   21.3   32.2    9.9    7.2        1926   25.7   19.4   37.8    10.1   7.0
1927   44.2   22.5   17.2    9.0    7.1          1927   39.8   22.8   21.0    9.4    7.0       1927   29.2   20.7   32.8    10.3   7.0        1927   25.3   19.1   38.3    10.5   6.8
1928   45.5   20.9   18.2    8.9    6.4          1928   40.6   21.4   22.2    9.3    6.5       1928   28.6   21.3   32.9    10.5   6.7        1928   24.5   20.2   38.2    10.7   6.4
1929   45.2   20.2   19.0    8.8    6.8          1929   40.4   20.7   23.0    9.1    6.8       1929   28.4   20.3   33.8    10.4   7.0        1929   24.2   18.9   39.3    10.8   6.9
1930   49.1   15.8   19.1    9.4    6.6          1930   44.5   15.6   23.8    9.5    6.6       1930   32.4   15.5   34.9    10.3   6.9        1930   27.8   13.9   40.9    10.6   6.9
1931   51.6   14.0   18.1    9.6    6.7          1931   47.2   13.8   22.4    9.9    6.7       1931   37.0   14.3   31.4    10.5   6.9        1931   31.6   13.1   37.2    10.9   7.1
1932   58.1   11.3   15.4    8.9    6.3          1932   53.2   11.4   18.8    9.9    6.8       1932   43.3   12.2   27.1    10.4   6.9        1932   36.7   12.1   32.4    11.3   7.5
1933   59.0   15.6   11.7    8.0    5.7          1933   53.8   15.7   15.1    8.8    6.6       1933   44.3   16.6   23.2    9.5    6.5        1933   37.9   17.2   28.0    10.1   6.8
1934   60.2   15.4   12.4    6.5    5.5          1934   52.9   16.3   16.7    7.6    6.5       1934   42.6   17.1   26.1    7.8    6.3        1934   36.3   16.8   31.5    8.8    6.6
1935   60.0   15.9   12.5    6.0    5.6          1935   52.4   17.3   16.9    6.8    6.6       1935   41.7   18.4   26.6    6.8    6.4        1935   35.7   17.4   32.4    7.7    6.7
1936   56.5   17.0   15.7    4.7    6.1          1936   48.0   18.5   21.5    5.0    6.9       1936   36.1   19.0   33.7    4.8    6.4        1936   30.7   17.6   39.8    5.4    6.5
1937   59.6   15.8   15.7    3.8    5.0          1937   53.8   16.8   20.3    3.9    5.2       1937   36.3   18.4   34.0    4.9    6.4        1937   31.7   16.8   40.1    5.0    6.5
1938   63.1   16.6   11.5    3.9    4.9          1938   58.2   17.4   15.3    4.0    5.1       1938   42.3   20.1   26.2    5.2    6.3        1938   37.9   19.0   31.4    5.3    6.4
1939   62.4   16.8   12.8    3.4    4.6          1939   56.4   18.4   16.6    3.7    5.0       1939   39.5   21.2   28.2    4.7    6.3        1939   35.1   19.8   33.8    4.9    6.4
1940   63.4   16.8   12.7    2.8    4.3          1940   55.2   19.6   16.9    3.4    5.0       1940   39.4   22.4   27.9    4.1    6.2        1940   35.4   21.0   33.2    4.2    6.3
1941   61.4   20.9   11.5    2.3    3.9          1941   52.2   24.7   15.6    2.8    4.7       1941   38.4   28.9   24.3    3.2    5.3        1941   35.2   28.1   28.3    3.1    5.3
1942   60.1   25.4    8.9    1.8    3.7          1942   52.0   29.9   11.8    2.3    4.0       1942   35.7   37.8   19.0    2.8    4.7        1942   32.7   38.0   21.9    2.8    4.6
1943   57.0   30.0    7.9    1.6    3.5          1943   47.7   36.2   10.6    2.0    3.6       1943   30.0   46.6   16.8    2.5    4.1        1943   27.3   47.0   19.2    2.5    3.9
1944   61.1   27.6    6.9    1.5    2.9          1944   48.9   36.0    9.6    1.9    3.6       1944   30.8   46.8   15.7    2.4    4.2        1944   28.1   46.9   18.3    2.5    4.2
1945   57.4   31.3    6.8    1.5    3.0          1945   45.2   39.8    9.4    1.9    3.6       1945   29.7   48.7   15.0    2.4    4.2        1945   27.4   48.2   17.7    2.6    4.2
1946   54.0   33.6    7.8    1.5    3.1          1946   43.4   40.6   10.5    1.9    3.6       1946   31.5   45.2   16.6    2.4    4.2        1946   29.3   44.1   19.8    2.5    4.3
1947   56.4   30.3    8.5    1.4    3.3          1947   45.9   36.6   11.7    1.8    4.0       1947   34.4   39.4   19.2    2.2    4.8        1947   31.9   37.7   23.1    2.3    5.0
1948   59.7   27.0    8.6    1.4    3.3          1948   49.1   33.4   11.9    1.7    4.0       1948   35.1   37.6   20.1    2.2    4.9        1948   32.4   35.7   24.5    2.3    5.1
1949   62.9   23.1    8.9    1.6    3.6          1949   53.0   28.5   12.3    1.9    4.3       1949   37.6   33.3   21.1    2.5    5.5        1949   34.4   31.6   25.7    2.6    5.7
1950   63.1   23.0    8.9    1.5    3.5          1950   52.7   28.8   12.3    1.9    4.3       1950   36.0   34.6   21.5    2.5    5.5        1950   32.7   33.1   25.9    2.6    5.7
1951   64.0   22.5    8.6    1.5    3.4          1951   53.4   28.5   12.1    1.8    4.1       1951   37.1   34.4   20.9    2.4    5.3        1951   33.8   33.3   25.0    2.4    5.5
1952   65.7   21.6    8.0    1.5    3.2          1952   55.7   27.3   11.2    1.9    3.9       1952   37.7   34.4   20.0    2.5    5.4        1952   34.7   32.7   24.4    2.6    5.6
1953   68.2   19.9    7.4    1.5    3.0          1953   58.1   25.7   10.5    1.9    3.8       1953   40.4   32.7   19.1    2.6    5.2        1953   37.5   31.0   23.4    2.7    5.5
1954   67.0   20.5    7.7    1.5    3.3          1954   58.3   25.1   10.9    1.8    3.9       1954   39.4   32.9   19.8    2.9    5.0        1954   36.4   31.1   24.1    3.0    5.3
1955   67.6   20.4    8.0    1.5    2.5          1955   60.0   24.4   10.9    1.7    2.9       1955   39.2   33.2   21.4    2.9    3.4        1955   36.8   30.6   26.5    3.0    3.1
1956   67.0   20.8    7.9    1.5    2.8          1956   58.6   25.3   11.1    1.9    3.2       1956   39.3   32.0   21.6    2.9    4.2        1956   36.4   28.1   28.1    3.0    4.4
1957   67.9   19.7    8.3    1.9    2.2          1957   57.5   25.4   11.8    2.4    2.9       1957   40.2   31.8   21.1    3.1    3.9        1957   36.5   28.7   27.6    3.2    4.0
1958   68.9   19.1    7.8    2.0    2.2          1958   58.5   24.7   11.3    2.6    2.9       1958   40.8   31.6   20.2    3.3    4.0        1958   37.1   28.3   26.9    3.5    4.1
1959   68.6   19.2    8.1    2.2    2.0          1959   57.5   25.4   11.6    2.8    2.7       1959   40.6   32.2   20.0    3.5    3.7        1959   36.6   29.4   26.4    3.7    3.9
1960   70.1   17.7    7.8    2.3    2.1          1960   59.0   23.7   11.4    3.0    2.8       1960   42.5   30.1   19.7    3.8    4.0        1960   38.2   26.7   26.8    4.0    4.3
1961    70.6   17.6    7.4     2.5    1.9           1961   61.1    22.9   10.5    3.1    2.5           1961    42.0   30.9     19.7   3.9    3.5         1961    37.8    27.6   26.9     4.1    3.7
1962    70.7   17.5    7.2     2.7    1.8           1962   61.0    22.9   10.3    3.3    2.4           1962    42.1   30.8     19.4   4.3    3.4         1962    38.1    27.1   26.8     4.4    3.6
1963    70.8   17.0    7.4     3.1    1.7           1963   61.5    22.1   10.4    3.7    2.2           1963    42.4   29.9     19.9   4.6    3.2         1963    37.9    26.6   27.3     4.8    3.4
1964    69.0   18.4    8.0     3.3    1.3           1964   59.8    23.6   11.0    3.9    1.7           1964    42.7   28.5     21.8   4.7    2.4         1964    37.6    27.0   28.1     4.8    2.5
1965    68.1   19.4    7.8     3.5    1.2           1965   59.9    23.9   10.7    4.0    1.5           1965    42.3   28.8     21.9   4.9    2.1         1965    37.5    27.7   27.6     5.0    2.2
1966    69.9   18.0    6.9     3.4    1.7           1966   60.2    23.7    9.9    4.0    2.2           1966    40.9   32.6     18.5   4.9    3.2         1966    37.2    31.6   22.9     4.9    3.5
1967    70.3   18.0    6.7     3.6    1.5           1967   60.9    23.6    9.4    4.2    1.9           1967    41.8   33.1     17.5   5.0    2.7         1967    38.0    32.5   21.7     5.0    2.8
1968    70.8   17.3    6.7     3.8    1.4           1968   61.2    22.8    9.5    4.5    1.9           1968    42.0   31.5     18.3   5.4    2.7         1968    37.3    31.1   23.2     5.6    2.8
1969    72.2   16.5    6.1     3.8    1.3           1969   63.3    21.9    8.6    4.5    1.7           1969    43.9   31.1     16.6   5.9    2.5         1969    39.9    29.7   21.0     6.5    2.8
1970    73.7   15.2    5.6     4.2    1.3           1970   65.2    20.2    7.9    5.0    1.8           1970    45.6   30.0     14.9   6.5    2.9         1970    41.0    30.0   18.8     7.0    3.2
1971    74.8   14.3    5.1     4.4    1.3           1971   66.3    19.2    7.4    5.3    1.8           1971    47.6   28.8     14.0   6.8    3.0         1971    42.5    29.1   17.8     7.2    3.5
1972    74.6   14.5    5.1     4.4    1.4           1972   66.2    19.3    7.2    5.3    2.0           1972    49.3   27.2     13.6   6.6    3.2         1972    46.2    26.4   16.9     7.0    3.5
1973    73.2   15.4    5.1     4.8    1.5           1973   64.9    20.2    7.1    5.7    2.1           1973    49.1   27.2     13.3   7.1    3.2         1973    45.7    26.7   16.6     7.5    3.5
1974    72.7   14.9    5.2     5.4    1.8           1974   64.8    19.5    7.0    6.3    2.4           1974    49.4   26.2     12.9   7.9    3.6         1974    45.6    25.5   16.1     8.6    4.2
1975    75.5   13.0    4.9     5.0    1.6           1975   68.1    17.1    6.8    5.8    2.3           1975    52.9   23.4     12.7   7.3    3.7         1975    49.7    22.6   15.7     7.7    4.3
1976    76.1   12.4    4.9     5.1    1.5           1976   69.2    16.2    6.8    5.8    2.0           1976    54.7   22.0     12.8   7.0    3.6         1976    52.0    20.9   15.9     7.0    4.2
1977    76.6   11.9    5.0     5.1    1.4           1977   69.8    15.6    6.9    5.7    1.9           1977    56.1   21.0     12.8   6.7    3.4         1977    53.3    20.1   15.7     6.9    4.0
1978    76.9   11.9    4.9     5.0    1.4           1978   70.5    15.2    6.7    5.7    1.9           1978    58.1   19.6     12.4   6.5    3.4         1978    55.0    18.9   15.4     6.7    4.0
1979    77.5   10.6    4.9     5.7    1.3           1979   71.0    13.6    6.8    6.7    1.9           1979    59.0   17.0     12.5   8.0    3.5         1979    56.3    15.7   15.6     8.3    4.1
1980    78.1    8.3    5.1     7.2    1.3           1980   72.3    10.3    7.0    8.4    1.9           1980    60.5   13.3     12.5   10.0   3.6         1980    57.7    12.5   15.3     10.3   4.3
1981    79.0    5.7    5.0     9.3    1.1           1981   73.8    6.8     6.9   10.8    1.7           1981    62.7    7.8     12.4   13.3   3.7         1981    59.8    6.6    15.1     14.0   4.6
1982    79.4    5.1    5.3     9.0    1.2           1982   73.9    6.5     7.2   10.5    1.9           1982    62.6    8.2     12.3   12.9   3.9         1982    59.3    7.6    14.9     13.1   5.0
1983    81.0    5.9    4.6     7.7    0.8           1983   76.4    7.3     6.3    8.8    1.3           1983    65.5    9.8     11.0   10.7   3.0         1983    61.8    10.0   13.0     11.3   3.9
1984    80.6    6.2    4.1     8.6    0.6           1984   75.5    7.7     5.6   10.1    1.1           1984    66.1    9.9     8.9    12.4   2.7         1984    63.5    10.0   10.3     12.9   3.2
1985    80.3    6.6    4.2     8.3    0.6           1985   75.2    8.4     5.7    9.6    1.2           1985    63.6   11.0     9.6    12.3   3.4         1985    59.3    11.7   11.2     13.2   4.7
1986    81.2    7.1    4.6     6.9    0.2           1986   76.4    8.8     6.1    8.1    0.6           1986    65.7   11.1     10.8   10.6   1.7         1986    61.5    11.3   13.1     11.7   2.5
1987    79.5    9.7    4.0     6.7    0.1           1987   74.2    12.5    5.1    7.9    0.4           1987    63.9   17.2     7.2    10.4   1.4         1987    61.2    17.8      8.0   11.3   1.7
1988    76.3   12.3    4.3     6.8    0.3           1988   70.5    15.5    5.3    8.0    0.7           1988    59.8   21.2     7.6    10.0   1.5         1988    56.9    22.5      8.5   10.5   1.6
1989    75.0   12.5    4.2     7.9    0.5           1989   68.8    15.9    5.2    9.1    0.9           1989    56.7   22.3     7.4    11.8   1.8         1989    52.9    23.8      8.2   12.8   2.2
1990    75.6   12.3    3.9     7.6    0.6           1990   69.8    15.7    4.7    8.8    1.0           1990    57.9   22.3     6.8    11.1   2.0         1990    54.1    24.0      7.5   12.1   2.3
1991    76.2   12.5    3.7     7.0    0.7           1991   70.1    16.0    4.5    8.2    1.1           1991    57.4   23.0     6.6    11.0   2.1         1991    53.1    24.8      7.3   12.4   2.4
1992    78.1   13.0    3.3     4.8    0.9           1992   72.6    16.7    4.0    5.4    1.3           1992    61.6   23.6     5.4    7.1    2.3         1992    58.6    25.1      5.9   7.9    2.5
1993    78.8   13.1    3.2     3.9    1.0           1993   73.4    16.8    3.8    4.5    1.4           1993    62.1   23.8     5.3    6.2    2.6         1993    58.7    25.7      5.8   6.8    3.0
1994    77.9   14.1    3.2     3.7    1.1           1994   72.0    18.2    3.9    4.4    1.6           1994    59.1   26.8     5.3    6.1    2.7         1994    54.7    29.3      6.0   6.9    3.1
1995    76.8   14.2    3.1     3.7    1.1           1995   70.8    18.4    3.7    4.4    1.5           1995    58.3   26.8     5.0    5.8    2.4         1995    54.5    29.1      5.5   6.4    2.7
1996    76.3   14.5    3.2     3.8    1.2           1996   70.6    18.5    3.8    4.3    1.6           1996    58.7   26.6     5.1    5.6    2.4         1996    55.1    28.8      5.5   6.1    2.7
1997    76.1   14.6    3.4     3.6    1.2           1997   70.4    18.5    4.0    4.2    1.7           1997    59.3   26.2     5.1    5.3    2.5         1997    55.8    28.4      5.4   5.8    2.7
1998    76.2   14.9    3.1     3.5    1.2           1998   70.6    18.8    3.6    4.0    1.6           1998    60.0   26.1     4.7    5.1    2.3         1998    57.0    28.0      5.0   5.6    2.5
1999    76.1   15.0    3.2     3.2    1.3           1999   70.9    18.6    3.7    3.7    1.6           1999    61.0   25.6     4.6    4.7    2.2         1999    58.3    27.3      4.9   5.1    2.4
2000    77.2   14.8    3.5     3.6    1.3           2000   72.5    18.2    4.0    4.1    1.6           2000    63.0   24.7     5.0    5.1    2.2         2000    60.7    26.0      5.2   5.5    2.3
2001    77.9   15.0    2.7     3.4    1.3           2001   72.6    18.9    3.2    3.9    1.8           2001    61.7   26.5     4.2    5.1    2.5         2001    58.1    28.8      4.6   5.6    2.7
2002    77.8   15.2    2.6     3.0    1.5           2002   72.9    18.8    3.1    3.4    1.9           2002    61.2   27.4     4.2    4.6    2.7         2002    56.9    30.3      4.7   5.2    2.9
2003    77.6   15.3    3.0     2.6    1.5           2003   72.6    19.0    3.6    3.0    1.9           2003    60.2   27.7     5.2    4.2    2.8         2003    55.6    30.7      5.9   4.8    3.0
2004    75.6   16.3    3.7     2.5    1.8           2004   70.5    20.0    4.5    2.9    2.1           2004    58.3   28.4     6.5    4.1    2.8         2004    53.2    31.5      7.5   4.7    3.0
2005    73.6   17.7    4.0     3.1    1.9           2005   68.4    21.5    4.7    3.6    2.2           2005    57.2   29.1     6.6    4.8    2.7         2005    52.3    32.3      7.7   5.6    3.0



Notes: Groups ranked by income (AGI + adjustments) excluding realized capital gains and SS and UI benefits.
Wages is defined as wages and salaries and pensions (and includes bonuses, stock-option exercises, etc.). Entrep. is profits from S-Corporations (entities not subject
to corporate taxes and taxed only at the individual level) plus profits from Partnerships plus profits from sole proprietorship businesses (Schedule C income) plus farm income.
Divid. is dividends distributed. Interest is interest income. Rents is rental income. The sums of all sources add up to 100%
(other forms of income are very small and excluded from the decomposition).
                              Table A7: Income composition by sources of income and by fractiles of total income in the United States, 1916-2005 (continued)
                     (wage income, entrepreneurial income, dividends, interest and rents are expressed in % of total income (excluding capital gains) of each fractile)


                 P99.9-100                                       P99.99-100                                       P90-95                                         P95-99
       Wage Entrep. Divid. Interest Rents              Wage Entrep. Divid. Interest Rents             Wage Entrep. Divid. Interest Rents             Wage Entrep. Divid. Interest Rents
1916   10.2   28.3   47.3    9.6    4.6         1916    5.6   24.3   56.8    9.3    4.0        1916                                           1916
1917   15.4   16.0   52.7    12.9   3.1         1917    8.4   13.8   61.2    14.3   2.4        1917                                           1917   41.3   44.4    4.1    2.6    7.7
1918   19.2   22.5   42.7    12.4   3.2         1918   10.1   23.5   49.5    14.3   2.6        1918   67.9   18.5    2.5    5.6    5.5        1918   50.7   29.8    6.2    6.9    6.4
1919   19.0   30.7   35.4    11.6   3.3         1919   10.0   31.8   42.6    12.9   2.7        1919   71.2   18.2    2.2    4.0    4.4        1919   52.1   31.5    4.8    5.9    5.7
1920   21.1   25.5   39.2    10.5   3.7         1920   11.6   25.4   48.7    11.0   3.4        1920   73.2   15.3    2.6    5.3    3.6        1920   58.6   24.1    5.6    6.8    4.9
1921   23.1   21.7   39.9    10.9   4.5         1921   13.5   21.3   51.0    10.2   4.0        1921   79.0   10.8    1.4    4.6    4.1        1921   62.8   18.7    6.0    7.2    5.4
1922   20.0   20.0   41.4    10.9   7.6         1922   11.2   18.1   52.6    10.3   7.8        1922   75.7   12.9    1.8    4.9    4.7        1922   60.5   21.1    5.3    7.1    6.0
1923   20.2   17.7   44.7    10.1   7.3         1923   12.2   13.5   57.6    9.7    7.1        1923   61.8   21.8    2.8    6.5    7.1        1923   48.0   29.9    5.8    8.3    7.9
1924   20.1   17.2   45.8    10.2   6.6         1924   12.4   13.5   58.1    9.5    6.5        1924   58.1   23.5    3.0    7.2    8.2        1924   48.5   29.2    4.7    8.5    9.1
1925   18.7   20.2   45.3    9.5    6.4         1925   10.7   19.1   56.5    8.6    5.1        1925   56.0   24.6    3.4    7.4    8.6        1925   50.5   28.5    5.2    7.5    8.3
1926   18.1   16.3   49.8    9.7    6.1         1926   11.4   13.3   62.7    8.1    4.5        1926   56.9   22.2    4.6    7.8    8.5        1926   51.0   27.3    6.0    7.7    8.0
1927   17.6   16.9   49.8    9.8    5.8         1927   10.2   16.3   61.0    8.4    4.1        1927   59.0   21.3    4.5    7.8    7.4        1927   53.0   25.3    6.4    8.3    7.1
1928   16.6   20.3   47.9    10.1   5.1         1928    9.3   24.1   54.3    9.2    3.1        1928   61.2   20.2    4.5    7.8    6.3        1928   55.5   21.5    8.8    7.9    6.2
1929   15.9   18.0   49.6    10.6   5.8         1929    8.8   20.6   56.8    10.2   3.7        1929   59.7   19.8    5.8    7.7    7.0        1929   55.1   21.1    9.7    7.7    6.5
1930   19.1   10.7   53.8    10.1   6.2         1930   12.2    6.7   69.1    8.1    3.9        1930   61.2   18.1    5.4    8.8    6.4        1930   57.7   15.7   11.4    8.8    6.4
1931   21.8   10.4   50.4    10.6   6.8         1931   12.9    6.5   67.8    8.4    4.4        1931   62.6   16.4    5.6    8.7    6.7        1931   58.3   14.3   11.3    9.4    6.6
1932   25.7   10.4   44.9    11.4   7.6         1932   15.6    6.9   64.0    8.5    5.0        1932   71.4   12.1    4.7    6.6    5.1        1932   64.6   11.7    8.9    8.2    6.7
1933   27.0   16.6   39.5    10.2   6.6         1933   15.6   14.6   57.4    8.2    4.2        1933   71.5   16.2    2.3    5.9    4.1        1933   65.6   16.1    4.7    6.8    6.8
1934   26.0   13.6   45.4    8.6    6.3         1934   15.6    9.2   64.6    6.3    4.2        1934   74.5   15.0    3.4    3.8    3.4        1934   65.9   16.5    5.0    5.9    6.6
1935   25.3   14.9   46.0    7.4    6.4         1935   14.2   11.4   64.8    5.2    4.4        1935   73.8   15.0    3.2    4.2    3.8        1935   66.2   17.0    5.0    5.2    6.6
1936   21.1   14.5   53.5    4.9    6.0         1936   10.8   11.3   70.3    3.4    4.2        1936   72.2   15.9    3.3    4.0    4.6        1936   63.4   18.6    6.9    3.7    7.4
1937   22.6   12.5   54.3    4.4    6.2         1937   12.5    7.2   72.5    3.2    4.6        1937   74.0   13.6    4.3    3.5    4.6        1937   71.6   15.1    6.5    2.9    4.0
1938   29.4   15.6   44.2    4.8    6.0         1938   18.9    9.5   63.6    3.4    4.6        1938   74.0   14.9    3.0    3.6    4.6        1938   72.1   15.0    5.8    3.1    4.0
1939   26.5   15.2   47.7    4.4    6.1         1939   16.3    8.1   67.8    3.1    4.7        1939   76.0   13.2    4.5    2.7    3.7        1939   71.3   15.8    6.2    2.8    3.8
1940   27.2   16.5   46.6    3.7    6.0         1940   16.3    9.4   66.9    2.7    4.6        1940   81.9   10.4    3.2    1.6    2.8        1940   69.9   17.0    6.5    2.7    3.9
1941   28.0   25.1   39.1    2.8    5.1         1941   16.8   19.4   57.4    2.2    4.2        1941   83.3   12.0    1.6    1.0    2.0        1941   65.7   20.6    7.1    2.5    4.1
1942   25.3   39.4   28.8    2.4    4.2         1942   13.3   42.3   39.3    1.9    3.2        1942   79.5   14.7    2.1    0.7    3.0        1942   68.4   21.9    4.6    1.8    3.3
1943   21.2   46.8   25.9    2.4    3.7         1943   11.5   44.8   38.3    2.3    3.1        1943   78.8   15.7    1.7    0.6    3.2        1943   65.0   26.0    4.4    1.5    3.2
1944   22.1   45.7   25.7    2.5    4.1         1944   12.5   39.6   41.8    2.5    3.6        1944   87.9    9.1    0.8    0.7    1.6        1944   65.6   26.0    4.0    1.5    3.0
1945   21.8   45.6   25.7    2.7    4.2         1945   13.4   35.0   44.5    3.1    3.9        1945   85.8   11.4    0.7    0.6    1.6        1945   59.5   31.6    4.4    1.5    3.1
1946   23.9   38.7   30.0    2.9    4.5         1946   15.1   24.4   52.5    3.6    4.4        1946   80.0   16.3    1.3    0.6    1.8        1946   54.0   36.4    5.0    1.5    3.1
1947   25.7   30.9   35.4    2.6    5.4         1947   15.0   17.1   59.6    3.0    5.3        1947   81.4   15.2    1.0    0.5    1.8        1947   56.0   34.2    5.1    1.4    3.3
1948   26.1   29.2   36.8    2.5    5.5         1948   15.6   17.1   59.4    2.7    5.2        1948   84.5   12.3    0.9    0.6    1.7        1948   61.5   29.5    4.6    1.3    3.1
1949   28.0   24.8   38.6    2.7    6.0         1949   17.0   13.6   61.4    2.7    5.4        1949   85.3   10.8    1.2    0.8    1.9        1949   66.3   24.3    4.7    1.4    3.3
1950   25.2   26.7   39.4    2.7    6.1         1950   11.9   15.0   64.7    2.6    5.8        1950   86.4   10.0    1.0    0.7    1.8        1950   66.6   24.0    4.7    1.4    3.3
1951   27.3   26.8   37.5    2.5    5.8         1951   15.4   15.0   61.6    2.3    5.6        1951   87.6    9.1    0.9    0.6    1.7        1951   67.2   23.5    4.7    1.4    3.1
1952   28.1   24.5   38.5    2.7    6.2         1952   16.3   11.5   63.5    2.7    6.0        1952   86.9    9.5    1.3    0.6    1.7        1952   70.1   21.7    4.2    1.4    2.7
1953   30.3   24.2   36.6    2.8    6.1         1953   17.2   11.3   62.5    2.8    6.2        1953   88.4    8.3    1.2    0.7    1.5        1953   71.4   20.4    4.1    1.4    2.8
1954   29.6   22.7   38.7    3.1    6.0         1954   18.2   11.5   61.0    3.0    6.3        1954   84.5   11.4    1.1    0.8    2.2        1954   72.7   19.2    4.1    1.0    3.0
1955   29.0   19.9   43.6    2.9    4.7         1955   17.1    9.3   67.1    2.7    4.0        1955   83.1   12.3    1.9    0.9    1.8        1955   75.4   18.0    3.2    0.9    2.5
1956   29.6   17.9   44.8    3.0    4.6         1956   17.7    6.7   68.7    2.9    4.0        1956   84.0   11.9    1.4    0.6    2.1        1956   72.6   20.4    3.4    1.2    2.4
1957   28.9   19.6   43.9    3.3    4.3         1957   17.6    7.3   67.3    3.3    4.4        1957   88.8    8.2    1.2    0.9    0.9        1957   70.0   20.7    5.1    1.9    2.2
1958   30.0   18.9   42.9    3.7    4.5         1958   18.1    7.5   66.1    3.7    4.6        1958   89.3    8.1    0.9    0.9    0.8        1958   70.8   19.8    5.2    2.0    2.2
1959   29.2   20.1   42.9    3.9    4.0         1959   17.8    8.6   65.9    3.8    3.8        1959   89.5    7.4    1.3    1.0    0.7        1959   69.4   20.6    5.7    2.2    2.1
1960   30.6   17.1   43.3    4.2    4.8         1960   18.1    5.4   68.4    4.2    3.8        1960   90.3    6.8    1.2    1.1    0.6        1960   70.3   19.4    5.8    2.4    2.1
1961    30.0   18.9    43.0    4.3    3.8           1961   17.0    7.8    67.5    4.3    3.4           1961    88.5    7.6     1.7   1.4    0.8          1961    73.6    17.7      4.5   2.5   1.8
1962    29.7   17.8    44.0    4.6    3.8           1962   17.4    5.4    68.7    4.7    3.8           1962    88.9    7.3     1.4   1.6    0.8          1962    73.1    17.9      4.5   2.7   1.7
1963    29.1   17.4    44.8    5.0    3.7           1963   16.6    4.9    69.9    4.9    3.6           1963    88.1    7.4     1.8   2.0    0.7          1963    73.6    17.1      4.4   3.2   1.6
1964    29.0   18.3    45.1    5.1    2.4           1964   12.6    3.2    78.0    4.7    1.5           1964    86.2    8.6     2.4   2.2    0.6          1964    71.6    19.1      4.5   3.5   1.3
1965    29.1   19.2    44.1    5.4    2.2           1965   13.1    5.7    74.0    5.3    1.9           1965    83.9   10.7     2.3   2.5    0.6          1965    72.0    19.3      3.9   3.6   1.2
1966    29.8   23.4    37.9    5.3    3.6           1966   15.9    11.3   62.9    5.8    4.0           1966    88.3    7.4     1.4   2.3    0.6          1966    72.7    17.9      4.3   3.5   1.6
1967    30.4   24.7    35.7    5.7    3.6           1967   17.8    13.6   58.0    6.4    4.1           1967    88.2    7.3     1.7   2.3    0.6          1967    73.3    17.4      4.1   3.7   1.4
1968    29.3   21.7    39.7    6.4    2.9           1968   18.2    11.3   58.8    8.2    3.6           1968    88.6    7.0     1.3   2.4    0.6          1968    73.7    17.2      3.9   3.9   1.3
1969    32.1   21.7    34.4    8.1    3.7           1969   18.4    8.3    57.2   11.2    4.8           1969    88.6    6.8     1.4   2.6    0.6          1969    75.3    16.1      3.7   3.7   1.2
1970    32.2   23.0    31.8    8.9    4.1           1970   18.1    10.6   55.0   11.2    5.0           1970    89.2    6.0     1.5   2.7    0.5          1970    77.1    14.1      3.5   4.1   1.1
1971    34.0   22.9    30.3    8.6    4.3           1971   19.0    13.6   51.5   10.8    5.1           1971    90.1    5.6     1.1   2.8    0.4          1971    77.6    13.4      3.5   4.4   1.2
1972    37.4   21.7    28.6    8.1    4.2           1972   24.5    12.3   48.3    9.9    4.9           1972    89.6    5.9     1.3   2.8    0.5          1972    76.4    14.6      3.3   4.5   1.2
1973    36.9   22.1    27.2    9.2    4.6           1973   23.3    12.8   46.2   11.8    5.8           1973    88.8    6.4     1.4   3.0    0.5          1973    74.2    16.0      3.4   4.8   1.5
1974    36.2   22.5    25.6    9.8    5.9           1974   22.9    18.3   39.9   11.1    7.8           1974    86.9    6.6     2.0   3.8    0.8          1974    74.3    15.5      3.4   5.3   1.6
1975    40.7   20.3    25.0    8.3    5.7           1975   25.8    16.7   40.1    9.7    7.6           1975    88.7    5.6     1.4   3.7    0.5          1975    77.4    13.3      3.2   4.8   1.4
1976    43.4   18.6    24.8    7.5    5.7           1976   27.9    16.4   38.9    8.4    8.3           1976    88.4    5.8     1.5   3.7    0.6          1976    77.9    12.7      3.3   5.1   1.0
1977    45.4   17.5    24.5    7.3    5.2           1977   29.2    15.6   39.4    8.1    7.7           1977    88.7    5.4     1.5   3.9    0.4          1977    78.1    12.4      3.4   5.2   1.0
1978    45.9   16.9    24.2    7.5    5.5           1978   30.7    16.3   37.7    7.9    7.4           1978    88.4    5.8     1.6   3.7    0.5          1978    78.0    12.6      3.3   5.2   1.0
1979    46.8   14.2    23.9    9.5    5.6           1979   31.3    13.7   36.2   11.5    7.3           1979    89.1    5.2     1.6   4.0    0.2          1979    78.4    11.5      3.3   5.8   1.0
1980    49.1   10.4    23.0   11.6    6.0           1980   33.7    10.7   34.7   13.3    7.6           1980    88.6    4.5     1.7   4.9    0.4          1980    79.7    8.5       3.6   7.4   0.9
1981    50.7    4.6    22.1   15.7    6.9           1981   35.4    3.5    32.5   18.9    9.7           1981    88.1    3.7     1.6   6.6    0.0          1981    80.6    6.1       3.5   9.2   0.5
1982    47.6    8.0    22.1   15.1    7.3           1982   30.3    12.1   30.8   18.6    8.3           1982    89.2    2.5     2.0   6.2    0.0          1982    81.2    5.4       3.9   9.0   0.6
1983    50.2   12.1    18.7   12.9    6.1           1983   34.0    21.4   23.9   14.6    6.1           1983    89.5    3.4     1.6   5.7   -0.1          1983    83.4    5.7       3.2   7.5   0.2
1984    53.9   12.1    13.1   15.6    5.3           1984   32.6    28.2   17.0   16.3    5.9           1984    89.9    3.2     1.4   5.8   -0.4          1984    81.8    6.3       3.3   8.5   0.1
1985    46.1   15.5    15.4   14.9    8.1           1985   34.5    26.5   15.9   17.1    6.0           1985    89.9    3.2     1.4   5.8   -0.4          1985    82.9    6.6       3.0   7.8   -0.3
1986    49.2   14.6    17.5   13.8    4.9           1986   38.8    24.1   18.0   15.7    3.4           1986    90.1    3.8     1.7   4.8   -0.5          1986    83.3    7.3       3.1   6.4   -0.2
1987    52.3   22.0    9.6    13.7    2.3           1987   36.2    31.3   12.2   17.9    2.5           1987    90.1    4.3     1.9   4.3   -0.6          1987    81.8    8.9       3.5   6.0   -0.2
1988    48.4   26.8    10.7   12.2    2.0           1988   38.7    30.3   14.7   14.3    2.0           1988    89.4    4.9     2.0   4.2   -0.5          1988    80.3    10.4      3.2   6.2   -0.1
1989    43.5   28.6    10.2   15.2    2.6           1989   30.8    35.3   13.2   17.9    2.7           1989    88.6    4.9     1.9   5.1   -0.5          1989    79.3    10.3      3.4   6.9   0.1
1990    45.7   27.4    9.6    14.4    2.8           1990   34.3    33.1   13.3   16.6    2.7           1990    88.7    4.7     2.0   4.9   -0.3          1990    80.5    9.8       2.9   6.7   0.1
1991    43.2   29.3    9.4    15.5    2.7           1991   29.9    36.4   11.8   19.3    2.6           1991    89.4    4.7     1.8   4.4   -0.3          1991    80.8    10.2      2.8   5.9   0.3
1992    53.2   27.6    7.3     9.3    2.7           1992   46.1    32.3    8.5   10.8    2.3           1992    90.9    4.3     1.7   3.3   -0.1          1992    82.6    10.5      2.6   3.9   0.4
1993    51.1   29.8    7.2     8.5    3.4           1993   41.0    36.2    8.7   10.4    3.8           1993    90.9    5.0     1.8   2.5   -0.1          1993    83.2    10.7      2.6   3.1   0.4
1994    44.4   35.9    7.2     8.9    3.5           1994   32.7    43.6    8.4   11.4    3.9           1994    91.1    5.0     1.6   2.2    0.1          1994    82.9    10.8      2.7   2.9   0.7
1995    45.6   34.3    6.9     7.9    3.3           1995   35.7    41.2    8.4    9.3    3.5           1995    91.0    4.5     1.6   2.3    0.1          1995    82.2    10.7      2.5   3.0   0.7
1996    46.9   33.8    6.6     7.4    3.1           1996   39.2    39.1    7.8    8.6    3.1           1996    90.1    4.6     1.8   2.6    0.2          1996    81.8    11.0      2.5   3.0   0.9
1997    49.1   32.5    6.2     6.9    2.9           1997   44.6    35.8    6.5    7.7    2.8           1997    90.3    4.8     1.9   2.1    0.2          1997    81.3    10.9      3.0   3.2   0.9
1998    51.8   31.0    5.6     6.5    2.7           1998   50.3    31.7    6.0    7.1    2.7           1998    90.4    4.9     1.7   2.2    0.2          1998    81.5    11.3      2.6   2.9   0.9
1999    55.0   29.3    5.3     5.8    2.3           1999   56.0    28.1    5.5    5.9    2.0           1999    89.8    5.5     1.7   1.9    0.3          1999    81.4    11.2      2.7   2.7   1.0
2000    58.2   26.9    5.5     6.2    2.2           2000   59.6    24.5    5.5    6.4    1.9           2000    90.1    5.6     2.1   2.3    0.3          2000    82.9    11.1      2.8   3.0   1.0
2001    53.5   31.3    5.2     6.7    2.9           2001   53.5    30.1    5.6    7.4    2.8           2001    91.5    5.0     1.5   2.1    0.3          2001    83.7    11.0      2.2   2.8   1.0
2002    49.5   34.6    5.9     6.7    3.3           2002   44.8    35.3    7.7    8.8    3.5           2002    89.9    6.2     1.5   1.9    0.6          2002    84.1    10.6      2.0   2.3   1.1
2003    47.6   35.1    7.7     6.2    3.3           2003   42.3    35.2   10.7    8.5    3.4           2003    90.1    6.3     1.5   1.5    0.6          2003    84.4    10.6      2.1   1.8   1.1
2004    46.7   34.2    9.9     6.0    3.2           2004   41.9    33.2   13.8    8.0    3.2           2004    89.0    6.8     1.8   1.4    1.0          2004    82.9    11.5      2.4   1.8   1.5
2005    45.9   35.1    10.0    7.1    3.1           2005   41.2    34.0   14.0    9.4    3.1           2005    87.9    7.4     1.9   1.8    1.2          2005    80.2    13.1      2.7   2.2   1.6


Notes: Groups ranked by income (AGI + adjustments) excluding realized capital gains and SS and UI benefits.
Wages is defined as wages and salaries and pensions (and includes bonuses, stock-option exercises, etc.). Entrep. is profits from S-Corporations (entities not subject
to corporate taxes and taxed only at the individual level) plus profits from Partnerships plus profits from sole proprietorship businesses (Schedule C income) plus farm income.
Divid. is dividends distributed. Interest is interest income. Rents is rental income. The sums of all sources add up to 100%
(other forms of income are very small and excluded from the decomposition).
                              Table A7: Income composition by sources of income and by fractiles of total income in the United States, 1916-2005 (continued)
                     (wage income, entrepreneurial income, dividends, interest and rents are expressed in % of total income (excluding capital gains) of each fractile)


                  P99-99.5                                       P99.5-99.9                                     P99.9-99.99                                    P99.99-100
       Wage Entrep. Divid. Interest Rents              Wage Entrep. Divid. Interest Rents             Wage Entrep. Divid. Interest Rents             Wage Entrep. Divid. Interest Rents
1916   35.0   38.4   10.0    8.3    8.3         1916   26.9   37.4   19.0    9.4    7.2        1916   13.8   31.4   39.9    9.7    5.2        1916    5.6   24.3   56.8    9.3    4.0
1917   35.6   35.7   13.0    8.9    6.8         1917   30.6   23.4   29.6    10.9   5.5        1917   20.1   17.4   47.0    11.9   3.6        1917    8.4   13.8   61.2    14.3   2.4
1918   34.3   35.9   13.1    9.4    7.4         1918   33.5   26.1   24.8    10.0   5.6        1918   24.4   21.9   38.8    11.4   3.5        1918   10.1   23.5   49.5    14.3   2.6
1919   37.7   36.4   12.0    8.4    5.6         1919   33.7   30.2   21.3    9.9    4.9        1919   23.7   30.1   31.7    11.0   3.6        1919   10.0   31.8   42.6    12.9   2.7
1920   42.2   29.0   15.1    8.3    5.3         1920   36.1   26.1   23.7    9.5    4.6        1920   25.5   25.5   34.8    10.3   3.9        1920   11.6   25.4   48.7    11.0   3.4
1921   47.4   23.9   13.5    9.0    6.1         1921   39.4   22.3   22.1    10.4   5.8        1921   27.3   21.8   35.0    11.2   4.8        1921   13.5   21.3   51.0    10.2   4.0
1922   44.4   25.1   13.0    9.5    8.0         1922   35.7   22.4   22.8    10.8   8.3        1922   24.1   20.8   36.2    11.2   7.6        1922   11.2   18.1   52.6    10.3   7.8
1923   44.5   23.8   13.9    9.3    8.5         1923   35.4   22.1   24.1    10.1   8.3        1923   23.7   19.5   39.0    10.3   7.4        1923   12.2   13.5   57.6    9.7    7.1
1924   43.6   27.9   11.7    8.6    8.1         1924   34.6   23.7   23.7    10.1   7.9        1924   23.6   18.9   40.3    10.5   6.7        1924   12.4   13.5   58.1    9.5    6.5
1925   41.7   28.3   13.0    8.7    8.3         1925   32.8   24.1   24.8    10.1   8.1        1925   22.3   20.7   40.1    9.9    7.0        1925   10.7   19.1   56.5    8.6    5.1
1926   41.0   27.3   14.7    9.2    7.8         1926   33.3   22.6   25.7    10.5   7.9        1926   21.5   17.8   43.4    10.5   6.8        1926   11.4   13.3   62.7    8.1    4.5
1927   41.7   25.8   15.0    9.8    7.7         1927   33.2   21.3   26.5    11.2   7.8        1927   21.3   17.3   44.1    10.6   6.7        1927   10.2   16.3   61.0    8.4    4.1
1928   42.1   25.2   15.4    9.7    7.5         1928   33.1   20.0   27.7    11.4   7.8        1928   20.5   18.3   44.3    10.6   6.3        1928    9.3   24.1   54.3    9.2    3.1
1929   42.0   25.1   16.2    9.3    7.4         1929   33.0   19.7   28.1    10.9   8.2        1929   19.8   16.6   45.7    10.9   7.0        1929    8.8   20.6   56.8    10.2   3.7
1930   46.5   20.4   16.9    9.3    6.8         1930   36.7   17.1   27.6    11.0   7.6        1930   22.9   13.0   45.4    11.2   7.5        1930   12.2    6.7   69.1    8.1    3.9
1931   52.1   17.6   14.7    9.3    6.3         1931   41.3   15.9   24.2    11.3   7.4        1931   26.9   12.5   40.7    11.7   8.2        1931   12.9    6.5   67.8    8.4    4.4
1932   62.6   12.7   11.8    7.7    5.3         1932   48.0   13.9   19.6    11.1   7.4        1932   30.5   12.0   35.7    12.9   8.9        1932   15.6    6.9   64.0    8.5    5.0
1933   63.0   14.6    9.1    7.7    5.7         1933   49.1   17.8   16.2    10.0   6.9        1933   32.5   17.6   30.9    11.1   7.8        1933   15.6   14.6   57.4    8.2    4.2
1934   60.9   18.0   10.5    4.9    5.6         1934   46.2   19.8   18.1    9.1    6.8        1934   31.2   15.8   35.9    9.7    7.4        1934   15.6    9.2   64.6    6.3    4.2
1935   59.3   21.2    9.8    4.1    5.7         1935   45.9   19.9   19.2    8.1    7.0        1935   30.8   16.6   36.7    8.5    7.4        1935   14.2   11.4   64.8    5.2    4.4
1936   52.9   23.4   14.7    2.8    6.2         1936   40.2   20.7   26.3    5.9    6.9        1936   26.1   16.1   45.3    5.6    6.9        1936   10.8   11.3   70.3    3.4    4.2
1937   50.4   23.5   15.3    4.6    6.2         1937   40.5   20.9   26.2    5.5    6.9        1937   27.5   15.1   45.4    5.1    6.9        1937   12.5    7.2   72.5    3.2    4.6
1938   54.2   23.0   12.0    4.7    6.1         1938   45.5   22.0   19.9    5.7    6.8        1938   34.1   18.4   35.5    5.5    6.6        1938   18.9    9.5   63.6    3.4    4.6
1939   52.1   25.0   12.5    4.3    6.0         1939   42.9   24.0   21.1    5.3    6.7        1939   31.3   18.6   38.3    5.0    6.8        1939   16.3    8.1   67.8    3.1    4.7
1940   50.8   26.3   13.0    3.9    6.0         1940   42.8   25.1   21.0    4.6    6.5        1940   32.2   19.7   37.3    4.2    6.6        1940   16.3    9.4   66.9    2.7    4.6
1941   47.3   31.2   12.9    3.2    5.4         1941   41.6   30.7   18.7    3.5    5.5        1941   32.8   27.6   31.2    3.0    5.4        1941   16.8   19.4   57.4    2.2    4.2
1942   44.4   37.0   10.8    2.9    5.0         1942   39.1   36.9   15.9    3.1    5.0        1942   30.2   38.1   24.4    2.7    4.5        1942   13.3   42.3   39.3    1.9    3.2
1943   37.3   45.4   10.3    2.5    4.6         1943   32.3   47.2   13.9    2.6    4.1        1943   24.5   47.4   21.8    2.5    3.9        1943   11.5   44.8   38.3    2.3    3.1
1944   37.7   46.6    9.0    2.3    4.3         1944   32.7   47.8   12.7    2.5    4.3        1944   25.7   47.9   19.7    2.5    4.2        1944   12.5   39.6   41.8    2.5    3.6
1945   35.3   49.9    8.5    2.2    4.1         1945   31.3   50.1   11.9    2.4    4.3        1945   24.5   48.9   19.7    2.6    4.3        1945   13.4   35.0   44.5    3.1    3.9
1946   36.8   47.9    9.2    2.0    4.0         1946   32.9   47.8   12.8    2.3    4.2        1946   26.8   43.5   22.4    2.6    4.6        1946   15.1   24.4   52.5    3.6    4.4
1947   40.2   43.4   10.0    2.0    4.3         1947   36.3   42.4   14.5    2.2    4.7        1947   29.6   35.9   26.5    2.5    5.4        1947   15.0   17.1   59.6    3.0    5.3
1948   41.9   42.4    9.4    2.0    4.4         1948   37.0   40.5   15.4    2.2    4.9        1948   29.9   33.6   28.6    2.4    5.6        1948   15.6   17.1   59.4    2.7    5.2
1949   45.2   37.5   10.2    2.2    4.9         1949   39.2   36.7   16.1    2.5    5.5        1949   32.2   29.1   29.8    2.7    6.2        1949   17.0   13.6   61.4    2.7    5.4
1950   43.9   38.1   10.8    2.2    5.0         1950   38.0   37.7   16.3    2.5    5.5        1950   30.0   30.9   30.1    2.7    6.2        1950   11.9   15.0   64.7    2.6    5.8
1951   44.8   37.1   11.1    2.2    4.8         1951   38.3   37.8   16.1    2.4    5.3        1951   31.6   31.1   28.9    2.5    5.9        1951   15.4   15.0   61.6    2.3    5.6
1952   44.4   38.2   10.1    2.4    4.9         1952   39.1   38.2   15.0    2.5    5.2        1952   32.2   29.0   29.8    2.7    6.3        1952   16.3   11.5   63.5    2.7    6.0
1953   47.0   36.6    9.6    2.3    4.5         1953   42.1   35.4   14.9    2.6    5.1        1953   34.9   28.7   27.6    2.8    6.0        1953   17.2   11.3   62.5    2.8    6.2
1954   46.0   36.8   10.3    2.6    4.4         1954   40.7   36.5   14.9    3.0    4.9        1954   33.5   26.6   30.9    3.1    5.9        1954   18.2   11.5   61.0    3.0    6.3
1955   44.2   38.6   10.5    2.6    4.0         1955   41.7   37.4   15.7    3.0    2.1        1955   33.3   23.7   35.1    2.9    4.9        1955   17.1    9.3   67.1    2.7    4.0
1956   45.4   39.9    8.0    2.8    3.8         1956   40.5   34.3   18.0    3.0    4.3        1956   33.9   22.0   36.2    3.1    4.8        1956   17.7    6.7   68.7    2.9    4.0
1957   47.4   38.3    7.7    2.8    3.8         1957   41.2   34.2   17.6    3.2    3.8        1957   33.0   24.0   35.5    3.3    4.2        1957   17.6    7.3   67.3    3.3    4.4
1958   48.0   38.5    6.7    3.1    3.7         1958   41.5   34.1   17.2    3.3    3.9        1958   34.2   23.0   34.7    3.7    4.5        1958   18.1    7.5   66.1    3.7    4.6
1959   48.2   38.2    7.1    3.3    3.3         1959   40.9   34.6   17.1    3.6    3.8        1959   33.1   24.0   34.9    4.0    4.0        1959   17.8    8.6   65.9    3.8    3.8
1960   50.5   36.1    6.4    3.5    3.5         1960   42.6   32.4   17.1    3.8    4.0        1960   34.9   21.2   34.4    4.2    5.2        1960   18.1    5.4   68.4    4.2    3.8
1961    50.3   35.7    7.1     3.7    3.3           1961   42.3    32.6   17.6    3.9    3.6           1961    34.5   22.7     34.5   4.3    4.0         1961    17.0    7.8    67.5     4.3    3.4
1962    50.5   36.2    6.0     4.1    3.1           1962   42.7    32.3   17.3    4.3    3.5           1962    34.0   22.1     35.4   4.6    3.9         1962    17.4    5.4    68.7     4.7    3.8
1963    51.6   34.7    6.4     4.4    2.9           1963   42.8    31.7   17.6    4.7    3.3           1963    33.5   21.9     35.8   5.0    3.8         1963    16.6    4.9    69.9     4.9    3.6
1964    52.6   31.4    9.5     4.4    2.1           1964   42.4    31.8   18.7    4.7    2.5           1964    34.2   23.0     34.8   5.3    2.7         1964    12.6    3.2    78.0     4.7    1.5
1965    52.0   31.2    10.3    4.6    1.9           1965   42.3    32.5   18.2    4.9    2.1           1965    34.0   23.2     35.1   5.4    2.3         1965    13.1    5.7    74.0     5.3    1.9
1966    48.2   34.6    9.8     4.8    2.7           1966   41.6    36.5   13.9    4.7    3.4           1966    34.5   27.5     29.4   5.2    3.5         1966    15.9    11.3   62.9     5.8    4.0
1967    49.1   34.3    9.3     5.0    2.3           1967   42.4    37.0   13.5    4.6    2.4           1967    34.5   28.3     28.4   5.5    3.4         1967    17.8    13.6   58.0     6.4    4.1
1968    51.1   32.3    8.9     5.0    2.7           1968   41.9    36.6   13.7    5.2    2.7           1968    32.7   24.9     33.8   5.9    2.7         1968    18.2    11.3   58.8     8.2    3.6
1969    51.3   33.7    8.2     4.9    1.9           1969   44.3    34.3   13.5    5.6    2.3           1969    36.3   25.8     27.5   7.1    3.4         1969    18.4    8.3    57.2     11.2   4.8
1970    54.5   30.2    7.5     5.5    2.3           1970   46.0    34.0   11.4    6.0    2.7           1970    36.8   27.1     24.1   8.1    3.8         1970    18.1    10.6   55.0     11.2   5.0
1971    57.2   28.1    6.8     6.0    2.0           1971   47.2    32.6   10.8    6.3    3.1           1971    38.9   25.9     23.4   7.9    4.0         1971    19.0    13.6   51.5     10.8   5.1
1972    54.9   28.7    7.7     6.0    2.7           1972   51.1    29.1   10.4    6.3    3.1           1972    41.5   24.7     22.3   7.6    4.0         1972    24.5    12.3   48.3     9.9    4.9
1973    55.5   28.2    7.3     6.4    2.6           1973   50.5    29.3   10.8    6.6    2.9           1973    41.2   25.0     21.2   8.3    4.2         1973    23.3    12.8   46.2     11.8   5.8
1974    56.7   27.3    6.9     6.6    2.5           1974   51.2    27.4   10.3    7.9    3.2           1974    40.8   24.0     20.7   9.3    5.2         1974    22.9    18.3   39.9     11.1   7.8
1975    59.0   25.0    6.8     6.6    2.6           1975   55.1    24.0   10.1    7.3    3.5           1975    45.9   21.6     19.6   7.8    5.0         1975    25.8    16.7   40.1     9.7    7.6
1976    60.0   24.0    6.7     6.8    2.5           1976   57.2    22.4   10.5    6.7    3.2           1976    48.9   19.3     19.7   7.2    4.8         1976    27.9    16.4   38.9     8.4    8.3
1977    61.5   22.8    7.2     6.4    2.1           1977   58.1    21.7   10.3    6.6    3.3           1977    51.1   18.2     19.3   7.1    4.4         1977    29.2    15.6   39.4     8.1    7.7
1978    64.2   21.0    6.4     6.1    2.2           1978   60.7    20.1   10.0    6.2    3.1           1978    51.4   17.1     19.3   7.3    4.9         1978    30.7    16.3   37.7     7.9    7.4
1979    64.4   19.6    6.4     7.4    2.2           1979   62.5    16.7   10.2    7.6    3.1           1979    52.3   14.4     19.5   8.7    5.0         1979    31.3    13.7   36.2     11.5   7.3
1980    66.3   15.0    7.0     9.5    2.2           1980   63.2    13.9   10.3    9.5    3.1           1980    54.9   10.3     18.5   10.9   5.4         1980    33.7    10.7   34.7     13.3   7.6
1981    68.6   10.4    7.0    12.1    1.9           1981   65.7    7.9    10.5   12.8    3.1           1981    56.5    5.0     18.2   14.5   5.9         1981    35.4    3.5    32.5     18.9   9.7
1982    69.6    9.5    6.8    12.6    1.5           1982   67.7    7.3     9.9   11.7    3.4           1982    54.7    6.3     18.5   13.6   6.9         1982    30.3    12.1   30.8     18.6   8.3
1983    73.7    9.5    6.6     9.4    0.9           1983   70.4    8.4     8.8   10.1    2.3           1983    57.6    7.8     16.3   12.1   6.1         1983    34.0    21.4   23.9     14.6   6.1
1984    71.9    9.6    5.9    11.3    1.3           1984   71.2    8.4     8.0   10.8    1.6           1984    64.1    4.4     11.3   15.2   5.0         1984    32.6    28.2   17.0     16.3   5.9
1985    73.9    9.4    6.1    10.3    0.4           1985   69.8    8.7     7.8   11.8    2.0           1985    51.2   10.6     15.2   14.0   9.0         1985    34.5    26.5   15.9     17.1   6.0
1986    75.1   10.9    5.7     8.2    0.1           1986   70.6    8.8     9.8   10.2    0.7           1986    53.9   10.4     17.2   12.9   5.6         1986    38.8    24.1   18.0     15.7   3.4
1987    70.4   15.9    5.2     8.1    0.4           1987   68.8    14.1    6.5    9.3    1.2           1987    59.9   17.7     8.4    11.7   2.2         1987    36.2    31.3   12.2     17.9   2.5
1988    68.3   17.2    5.1     8.5    0.9           1988   65.6    18.1    6.2    8.7    1.3           1988    53.9   24.8     8.4    10.9   2.0         1988    38.7    30.3   14.7     14.3   2.0
1989    67.4   18.2    4.9     8.8    0.7           1989   62.0    19.1    6.4   10.6    1.9           1989    50.1   25.1     8.6    13.7   2.5         1989    30.8    35.3   13.2     17.9   2.7
1990    68.8   17.4    4.5     8.2    1.0           1990   62.1    20.7    5.5    9.8    1.8           1990    52.1   24.3     7.6    13.2   2.8         1990    34.3    33.1   13.3     16.6   2.7
1991    68.9   18.0    4.7     7.1    1.3           1991   62.1    20.8    5.4    9.6    2.1           1991    50.3   25.4     8.0    13.4   2.8         1991    29.9    36.4   11.8     19.3   2.6
1992    70.4   19.1    4.0     5.0    1.6           1992   64.2    22.6    4.6    6.3    2.3           1992    57.4   24.8     6.6    8.5    2.9         1992    46.1    32.3      8.5   10.8   2.3
1993    71.3   18.7    4.0     4.4    1.6           1993   65.9    21.8    4.5    5.2    2.5           1993    56.5   26.4     6.5    7.5    3.2         1993    41.0    36.2      8.7   10.4   3.8
1994    71.1   20.0    3.5     3.7    1.6           1994   64.3    23.1    4.8    5.1    2.7           1994    50.7   31.9     6.6    7.5    3.3         1994    32.7    43.6      8.4   11.4   3.9
1995    68.7   20.5    3.7     4.2    1.7           1995   63.4    23.9    4.2    5.0    2.1           1995    51.3   30.3     6.1    7.0    3.1         1995    35.7    41.2      8.4   9.3    3.5
1996    68.9   20.2    4.0     4.0    1.6           1996   63.6    23.6    4.3    4.8    2.3           1996    51.5   30.7     5.9    6.8    3.0         1996    39.2    39.1      7.8   8.6    3.1
1997    69.8   19.7    3.9     3.7    1.7           1997   63.1    23.8    4.6    4.6    2.5           1997    51.9   30.6     6.0    6.4    2.9         1997    44.6    35.8      6.5   7.7    2.8
1998    69.5   20.3    3.6     3.5    1.8           1998   62.8    24.6    4.3    4.5    2.3           1998    52.8   30.5     5.4    6.1    2.7         1998    50.3    31.7      6.0   7.1    2.7
1999    69.9   20.1    3.9     3.3    1.8           1999   62.3    24.9    4.4    4.3    2.4           1999    54.3   30.0     5.1    5.7    2.6         1999    56.0    28.1      5.5   5.9    2.0
2000    70.9   20.1    4.3     3.8    1.9           2000   63.9    24.9    4.8    4.6    2.3           2000    57.3   28.4     5.5    6.1    2.4         2000    59.6    24.5      5.5   6.4    1.9
2001    73.1   19.3    3.1     3.5    1.8           2001   63.4    25.9    3.9    4.4    2.5           2001    53.5   32.1     4.9    6.2    2.9         2001    53.5    30.1      5.6   7.4    2.8
2002    73.4   19.2    2.7     2.8    1.9           2002   64.5    25.8    3.5    3.7    2.5           2002    52.1   34.2     4.9    5.5    3.2         2002    44.8    35.3      7.7   8.8    3.5
2003    73.5   19.0    3.0     2.4    2.0           2003   63.9    26.1    4.0    3.2    2.8           2003    50.8   35.1     6.0    4.9    3.3         2003    42.3    35.2   10.7     8.5    3.4
2004    73.4   18.9    3.4     2.2    2.1           2004   60.6    28.5    4.9    3.2    2.9           2004    49.8   34.9     7.4    4.8    3.2         2004    41.9    33.2   13.8     8.0    3.2
2005    72.1   19.4    3.4     2.6    2.0           2005   59.5    29.2    5.0    3.8    2.8           2005    48.9   35.8     7.5    5.7    3.1         2005    41.2    34.0   14.0     9.4    3.1


Notes: Groups ranked by income (AGI + adjustments) excluding realized capital gains and SS and UI benefits.
Wages is defined as wages and salaries and pensions (and includes bonuses, stock-option exercises, etc.). Entrep. is profits from S-Corporations (entities not subject
to corporate taxes and taxed only at the individual level) plus profits from Partnerships plus profits from sole proprietorship businesses (Schedule C income) plus farm income.
Divid. is dividends distributed. Interest is interest income. Rents is rental income. The sums of all sources add up to 100%
(other forms of income are very small and excluded from the decomposition).
                                                                                 Table A8: Capital gains by fractiles of total income in the United States, 1916-2005
                                                                        (capital gains are expressed in % of total income (including capital gains) of each fractile)


                        A. (fractiles are defined by total income (excluding capital gains))                                                                        B. (fractiles are defined by total income (including capital gains))
       P90-100   P95-100   P99-100   P99.5-100   P99.9-100 P99.99-100   P90-95      P95-99   P99-99.5   P99.5-99.9 P99.9-99.99 P99.99-100          P90-100   P95-100   P99-100   P99.5-100   P99.9-100 P99.99-100   P90-95   P95-99   P99-99.5   P99.5-99.9 P99.9-99.99 P99.99-100

1916                         3.2       3.6         4.1        4.0                             1.1         2.8         4.2        4.0        1916                        7.5        8.6        10.9       14.2                          1.5         4.5         8.1       14.2
1917              1.6        1.5       1.5         1.2        0.8                   1.7       1.9         1.8         1.5        0.8        1917              2.6       2.9        3.0         3.0        3.1                2.2       2.7         2.9         3.0        3.1
1918    1.2       1.3        1.4       1.2         0.8        0.4       0.7         1.3       1.9         1.8         1.0        0.4        1918    1.7       2.0       2.4        2.3         1.8        1.6       0.8      1.6       2.7         2.9         2.0        1.6
1919    3.1       3.6        3.7       3.4         2.8        2.0       1.6         3.4       4.7         4.1         3.3        2.0        1919    4.5       5.5       6.7        6.7         6.8        7.6       1.7      4.2       6.5         6.6         6.3        7.6
1920    3.5       3.9        3.4       2.8         1.5        0.6       2.3         4.5       5.5         3.9         1.9        0.6        1920    4.7       5.6       5.6        4.9         3.3        2.4       2.5      5.5       7.7         6.4         3.8        2.4
1921    1.5       1.8        1.9       1.7         1.2        0.4       0.7         1.8       2.6         2.2         1.5        0.4        1921    2.1       2.7       3.2        3.1         2.5        1.6       0.8      2.2       3.6         3.6         3.0        1.6
1922    2.7       3.4        4.2       4.4         4.9        5.8       1.0         2.4       3.6         3.9         4.4        5.8        1922    4.5       5.8       8.4        9.4        12.4       19.9       1.1      3.0       5.1         6.3         8.5       19.9
1923    3.1       3.4        4.1       4.3         4.8        6.2       2.3         2.7       3.5         3.7         4.1        6.2        1923    4.9       5.8       8.2        9.2        12.3       20.9       2.6      3.4       4.9         6.1         7.9       20.9
1924    3.8       4.3        5.7       6.0         6.5        7.0       2.3         2.7       4.9         5.5         6.3        7.0        1924    6.0       7.4       11.0      12.3        15.8       23.2       2.6      3.4       6.8         8.8        11.9       23.2
1925    6.4       7.8       10.7      11.6        13.5       15.8       2.3         4.0       7.7         9.6        12.2       15.8        1925   11.1      13.6       20.4      23.1        30.0       42.9       2.6      4.9      10.6        15.1        21.7       42.9
1926    5.1       6.0        8.0       8.8        10.5       12.9       2.3         3.4       5.4         6.8         9.1       12.9        1926    9.0      10.9       16.1      18.5        24.9       37.3       2.6      4.2       7.5        10.9        16.7       37.3
1927    6.0       7.0        9.3      10.3        12.5       14.3       2.8         3.9       5.8         7.9        11.4       14.3        1927   10.6      12.7       18.5      21.3        28.4       40.1       3.1      4.8       8.0        12.4        20.5       40.1
1928    8.5      10.3       14.7      16.4        19.5       20.7       2.8         3.8       8.3        12.5        18.6       20.7        1928   15.4      18.7       27.8      31.6        40.0       51.1       3.1      4.8      11.5        19.2        31.4       51.1
1929    7.6       9.2       13.5      15.2        19.4       22.7       2.5         3.1       7.1         9.8        17.0       22.7        1929   14.2      17.4       26.6      30.5        40.5       54.0       2.8      3.9       9.9        15.3        29.1       54.0
1930    2.9       3.4        4.3       4.7         6.1        8.0       1.6         2.5       2.7         3.3         4.9        8.0        1930    5.4       6.3       9.3       11.0        16.0       25.8       1.8      3.1       3.8         5.3         9.4       25.8
1931    1.1       1.3        1.9       2.1         2.7        3.7       0.4         0.8       1.2         1.5         2.1        3.7        1931    2.2       2.6       4.3        5.1         7.7       13.5       0.5      1.0       1.7         2.5         4.2       13.5
1932    0.5       0.6        0.9       1.1         1.4        1.5       0.3         0.3       0.3         0.8         1.3        1.5        1932    0.7       0.9       2.0        2.5         3.6        5.6       0.3      0.4       0.4         1.4         2.6        5.6
1933    2.0       2.5        3.6       4.2         5.3        6.2       0.6         1.4       1.9         2.9         4.9        6.2        1933    3.4       4.4       7.8        9.4        13.4       20.8       0.7      1.7       2.7         4.8         9.3       20.8
1934    1.1       1.4        1.8       2.1         2.2        1.6       0.3         0.9       1.2         1.9         2.5        1.6        1934    1.7       2.2       3.4        4.0         4.7        4.5       0.3      1.1       1.8         3.2         4.9        4.5
1935    2.4       3.1        4.1       4.5         4.8        3.5       0.4         2.1       2.9         4.2         5.4        3.5        1935    3.9       5.1       7.5        8.6        10.1        9.1       0.5      2.6       4.1         7.0        10.6        9.1
1936    4.3       5.2        6.3       6.7         6.7        4.4       2.0         3.8       5.0         6.7         7.9        4.4        1936    6.8       8.4       11.3      12.5        13.9       11.4       2.2      4.7       7.2        11.1        15.2       11.4
1937    1.6       1.9        2.5       2.5         2.4        1.7       1.0         1.2       2.4         2.7         2.7        1.7        1937    2.5       3.1       4.4        4.8         5.1        4.6       1.2      1.5       3.4         4.5         5.3        4.6
1938    2.0       2.4        3.6       4.0         5.4        8.8       0.9         1.3       2.3         2.8         3.6        8.8        1938    3.5       4.5       7.3        8.7        12.7       21.9       1.0      1.6       3.4         4.7         7.2       21.9
1939    1.8       2.1        2.9       3.1         3.3        3.2       1.0         1.4       2.5         2.9         3.3        3.2        1939    2.8       3.6       5.4        6.0         7.2        8.5       1.1      1.7       3.6         4.9         6.6        8.5
1940    1.5       1.9        2.6       2.8         3.1        3.9       0.7         1.2       2.1         2.5         2.7        3.9        1940    2.5       3.2       4.9        5.5         7.1       10.3       0.7      1.5       3.0         4.1         5.4       10.3
1941    1.6       2.0        2.7       2.9         3.8        5.7       0.5         1.3       2.0         2.1         2.9        5.7        1941    2.7       3.6       5.3        6.1         8.8       14.8       0.5      1.7       2.9         3.6         5.7       14.8
1942    1.1       1.4        1.9       2.0         2.7        4.0       0.1         0.9       1.6         1.4         2.1        4.0        1942    1.9       2.5       3.8        4.3         6.3       10.9       0.2      1.2       2.3         2.4         4.2       10.9
1943    2.3       2.9        3.9       4.1         5.1        7.1       0.9         2.0       3.3         3.3         4.4        7.1        1943    3.9       5.0       7.4        8.3        11.6       18.5       1.0      2.5       4.8         5.5         8.9       18.5
1944    2.3       2.9        3.8       4.1         5.1        6.8       0.8         2.1       3.0         3.3         4.4        6.8        1944    3.7       4.9       7.2        8.3        11.6       17.7       0.9      2.7       4.3         5.5         8.9       17.7
1945    4.8       6.1        7.6       8.3        10.5       13.5       1.8         4.6       5.8         6.6         9.4       13.5        1945    7.9      10.2       14.4      16.6        23.2       33.3       2.0      5.8       8.5        11.1        18.8       33.3
1946    6.2       7.1        8.1       8.7        11.6       16.7       3.7         6.2       6.6         6.4         9.6       16.7        1946    9.7      11.7       15.6      17.9        26.2       40.0       4.2      8.0       9.6        10.9        19.3       40.0
1947    3.8       4.6        5.4       6.0         8.6       12.1       2.1         3.8       4.0         4.0         7.1       12.1        1947    6.2       7.7       10.6      12.6        19.6       30.3       2.3      4.8       5.7         6.7        14.2       30.3
1948    3.6       4.4        5.1       5.6         7.4       10.1       1.7         3.7       3.9         4.2         6.4       10.1        1948    5.7       7.2       9.9       11.5        16.9       25.7       1.9      4.6       5.6         7.0        12.8       25.7
1949    2.6       3.1        4.0       4.5         6.0        8.1       1.2         2.4       2.9         3.3         5.1        8.1        1949    4.1       5.3       7.8        9.2        13.7       20.9       1.3      3.0       4.2         5.6        10.2       20.9
1950    4.6       5.2        7.6       7.9        10.3       13.0       3.0         2.9       6.8         5.9         9.5       13.0        1950    7.4       9.0       14.3      15.9        22.6       32.2       3.4      3.7       9.8        10.0        18.9       32.2
1951    3.8       4.9        6.9       7.5        10.0       13.0       1.3         3.1       5.2         5.7         8.8       13.0        1951    6.4       8.5       13.2      15.4        22.4       32.3       1.5      4.0       7.6         9.6        17.5       32.3
1952    3.0       3.9        5.8       6.6         9.7       12.3       1.3         2.2       3.9         4.4         8.7       12.3        1952    5.2       6.8       11.4      13.7        21.6       30.7       1.4      2.8       5.7         7.4        17.4       30.7
1953    2.4       3.1        4.8       5.7         8.5       11.6       0.9         1.8       2.7         3.7         7.4       11.6        1953    4.1       5.5       9.5       11.9        19.2       29.0       1.0      2.3       3.9         6.2        14.7       29.0
1954    4.0       5.6        7.9       9.1        13.8       17.2       0.6         3.7       5.1         5.7        12.4       17.2        1954    7.0       9.8       15.7      19.0        30.3       41.0       0.7      4.7       7.5         9.7        24.8       41.0
1955    5.8       7.2       10.8      12.5        18.2       21.2       2.8         4.3       7.1         8.2        17.0       21.2        1955   10.0      12.9       21.4      25.7        39.3       49.0       3.2      5.4      10.3        13.9        33.9       49.0
1956    4.5       5.7        9.1      11.9        17.3       19.6       1.8         3.0       2.8         8.1        16.3       19.6        1956    8.0      10.7       18.7      24.3        37.1       45.9       2.0      3.8       4.1        13.7        32.6       45.9
1957    3.4       4.6        6.9       8.9        13.4       15.5       1.0         2.8       2.4         5.8        12.5       15.5        1957    6.0       8.2       14.0      18.3        29.2       37.5       1.1      3.5       3.4         9.8        25.1       37.5
1958    4.0       5.5        8.3      10.6        15.3       17.9       0.8         3.4       3.2         7.3        14.3       17.9        1958    7.0       9.8       16.7      21.6        33.3       42.4       0.9      4.3       4.6        12.4        28.6       42.4
1959    5.4       7.9       11.4      14.3        20.8       23.6       0.3         5.3       4.8        10.0        19.7       23.6        1959    9.8      14.1       23.0      29.1        44.2       53.4       0.3      6.7       6.9        16.9        39.4       53.4
1960    4.8       6.8       10.2      13.1        19.5       23.9       0.9         4.2       3.9         8.7        17.6       23.9        1960    8.6      12.3       21.0      27.2        42.1       54.1       1.0      5.4       5.7        14.7        35.3       54.1
1961     6.3      8.4     13.8     18.1    26.0     31.3      2.1     4.5      4.4     12.4     23.6    31.3      1961    11.7     16.0    28.5     37.1     54.6    66.7      2.3      5.8     6.4     21.1       47.2   66.7
1962     4.3      5.9     10.1     13.6    21.2     25.7      1.2     2.9      2.7      8.5     19.2    25.7      1962     8.1     11.3    21.3     28.4     45.3    57.3      1.3      3.6     3.8     14.4       38.4   57.3
1963     4.7      6.3     10.9     14.1    21.1     24.9      1.6     3.1      4.4      9.4     19.4    24.9      1963     8.6     11.9    22.3     29.0     45.1    55.9      1.8      3.9     6.3     15.9       38.9   55.9
1964     7.0      9.2     15.3     16.8    23.8     32.6      2.7     4.9     12.1     12.0     19.9    32.6      1964    12.3     16.6    29.5     34.4     51.0    68.8      3.0      6.2     17.9    20.5       39.8   68.8
1965     8.4     10.2     17.3     18.2    25.8     37.5      4.8     5.0     15.2     12.9     20.4    37.5      1965    14.5     18.7    33.4     37.8     55.3    76.3      5.4      6.4     22.6    22.0       40.8   76.3
1966     6.6      8.8     14.8     17.4    24.9     30.7      1.8     4.4      9.2     11.8     22.4    30.7      1966    10.5     14.4    25.3     31.5     48.6    68.0      2.3      5.6     10.2    16.4       36.7   68.0
1967     9.0     11.8     18.8     21.7    28.7     32.6      3.0     6.6     12.1     16.5     27.2    32.6      1967    13.6     18.3    30.7     36.1     53.3    72.8      3.3      7.9     17.2    20.3       41.1   72.8
1968     10.7    14.0     22.2     25.6    32.9     37.4      3.7     7.4     14.4     20.2     31.1    37.4      1968    15.6     21.3    35.3     42.1     60.0    78.9      3.0      9.1     17.1    24.6       47.3   78.9
1969     7.9     10.8     18.8     22.7    31.6     39.9      2.1     4.9      9.7     16.2     27.8    39.9      1969    12.2     17.0    31.1     38.5     58.4    79.7      2.1      5.5     12.2    18.9       42.8   79.7
1970     4.0      5.5     10.1     12.1    17.6     23.2      1.1     2.4      5.8      8.5     15.3    23.2      1970     7.5     10.6    20.1     25.2     41.7    64.4      1.3      3.8     8.7     12.0       28.9   64.4
1971     5.7      7.7     13.4     15.9    22.5     28.0      1.8     3.9      8.1     11.3     20.2    28.0      1971     9.9     13.9    25.1     31.3     49.0    71.0      1.9      5.6     10.7    16.6       35.8   71.0
1972     6.8      9.0     14.8     17.3    23.5     30.6      2.6     5.0      9.6     13.0     20.4    30.6      1972    11.9     16.4    28.4     34.9     53.4    75.3      2.7      7.4     13.1    19.1       40.1   75.3
1973     5.2      6.8     10.8     12.8    17.2     20.5      1.9     4.3      6.8      9.9     15.9    20.5      1973    10.2     13.9    24.9     30.0     46.5    68.5      2.8      6.2     13.7    17.1       35.0   68.5
1974     3.5      4.6      7.5     8.7     11.3     14.2      1.4     2.6      5.1      7.0     10.2    14.2      1974     7.2     9.9     17.9     22.6     35.3    55.0      1.7      4.4     7.3     12.9       26.0   55.0
1975     3.2      4.2      7.0     8.1     11.2     15.4      1.4     2.4      4.9      6.1     9.5     15.4      1975     6.5     9.1     16.3     20.1     31.7    51.2      1.5      4.2     8.2     11.6       22.0   51.2
1976     4.0      5.2      8.4     9.8     13.0     16.6      1.9     3.1      5.7      7.6     11.6    16.6      1976     7.9     10.8    18.6     22.2     34.0    52.1      2.1      5.6     10.7    13.4       25.1   52.1
1977     4.2      5.4      8.8     10.0    13.1     15.6      1.9     3.3      6.4      8.0     12.1    15.6      1977     8.4     11.6    20.9     25.0     37.4    58.2      2.2      5.3     11.7    15.5       26.7   58.2
1978     4.1      5.2      8.2     9.3     11.8     13.5      2.0     3.2      5.8      7.7     11.2    13.5      1978     8.3     11.2    19.0     22.8     34.3    51.7      2.6      5.9     10.8    14.1       25.9   51.7
1979     6.6      8.8     14.9     17.7    25.0     34.7      2.3     4.5      8.4     12.0     20.3    34.7      1979    12.4     17.0    29.6     35.5     50.5    71.7      3.0      7.4     14.8    21.5       36.5   71.7
1980     6.3      8.4     14.6     17.2    22.9     28.4      2.2     4.0      8.4     12.9     20.4    28.4      1980    11.3     15.6    27.8     33.9     48.6    67.4      2.6      6.3     12.7    20.4       37.4   67.4
1981     5.9      7.9     13.8     16.4    21.6     26.8      2.1     3.7      8.1     12.3     19.3    26.8      1981    11.1     15.7    29.1     35.4     51.9    71.1      2.0      5.3     12.8    19.4       39.9   71.1
1982     7.3     10.1     17.8     21.3    28.6     34.6      1.8     4.3      8.9     14.8     25.4    34.6      1982    11.7     16.5    30.4     37.2     53.4    71.0      1.5      5.0     10.8    19.2       40.9   71.0
1983     9.3     12.6     21.3     24.5    30.6     34.0      2.7     5.6     13.0     18.9     28.8    34.0      1983    15.0     20.6    35.8     42.2     56.7    70.5      2.8      7.1     16.7    25.4       47.2   70.5
1984     9.6     12.8     21.4     24.9    31.1     33.3      3.0     5.9     11.6     18.7     29.9    33.3      1984    15.1     21.0    36.3     42.1     55.5    70.6      2.0      7.0     18.3    25.5       43.9   70.6
1985     11.3    14.8     23.6     27.1    33.4     36.3      3.9     7.4     13.8     20.8     31.7    36.3      1985    17.3     23.6    39.3     45.1     58.6    73.9      2.9      8.6     20.6    28.3       47.4   73.9
1986     19.6    25.3     38.8     43.7    48.3     54.6      6.0     12.0    23.2     39.2     44.2    54.6      1986    27.9     36.7    56.7     63.4     75.9    84.9      4.4     13.1     30.5    45.7       68.3   84.9
1987     7.0      8.9     13.0     14.5    16.5     17.7      2.8     5.4      8.9     12.6     15.8    17.7      1987    10.7     14.3    23.5     27.0     35.3    46.7      2.9      5.7     9.7     14.4       18.8   46.7
1988     7.7      9.8     14.6     16.2    18.8     20.8      2.4     4.8      9.3     13.2     17.5    20.8      1988    10.9     14.4    22.7     25.6     33.2    43.0      2.5      5.0     10.2    15.2       21.2   43.0
1989     6.6      8.3     12.8     14.2    17.2     20.7      2.3     4.0      8.3     10.8     15.0    20.7      1989     9.5     12.4    19.9     22.9     30.1    40.9      2.3      4.1     9.1     12.2       17.6   40.9
1990     4.7      6.0      9.1     10.2    12.3     15.2      1.5     2.8      5.7      8.0     10.5    15.2      1990     7.1     9.3     14.9     17.2     23.4    31.9      1.6      2.9     6.1      8.7       11.7   31.9
1991     3.8      4.8      7.0     7.8      9.3     9.0       1.6     2.8      4.9      6.3     9.5      9.0      1991     6.4     8.4     13.7     16.0     21.5    28.3      1.6      2.9     5.2      6.8       10.4   28.3
1992     4.3      5.4      8.2     9.1     10.9     11.1      1.6     2.7      5.3      7.2     10.7    11.1      1992     6.4     8.3     13.1     15.1     20.2    27.1      1.6      2.8     5.6      7.7       11.9   27.1
1993     5.1      6.4      9.8     11.2    13.8     15.0      1.7     3.3      5.5      8.4     13.1    15.0      1993     7.5     9.8     15.6     18.3     25.2    35.7      1.8      3.4     5.8      9.1       15.1   35.7
1994     4.8      6.0      9.1     10.3    12.3     13.5      1.9     3.0      5.4      8.3     11.5    13.5      1994     7.2     9.5     15.4     18.0     25.3    35.6      2.0      3.1     5.7      9.1       13.0   35.6
1995     5.6      7.0     10.6     11.8    13.7     13.6      2.1     3.5      7.0      9.7     13.8    13.6      1995     7.9     10.3    16.4     19.3     26.9    37.9      1.9      4.0     7.4     10.4       19.8   37.9
1996     8.2     10.2     15.1     16.9    20.1     22.1      2.8     5.0      9.4     13.5     18.8    22.1      1996    10.8     13.8    21.9     25.6     35.1    48.3      2.7      4.9     9.4     13.5       25.4   48.3
1997     10.4    12.9     18.3     20.2    23.7     23.2      3.5     6.9     12.0     15.9     24.0    23.2      1997    13.6     17.1    25.8     29.7     38.9    51.4      3.3      6.8     11.7    17.0       29.5   51.4
1998     11.7    14.2     19.6     21.3    23.9     23.3      4.3     8.0     13.7     18.0     24.4    23.3      1998    15.5     19.5    29.0     33.0     42.4    54.1      3.5      7.4     13.4    19.3       33.4   54.1
1999     12.9    15.5     20.6     22.1    23.8     21.9      5.1     9.4     15.2     20.0     24.9    21.9      1999    17.1     21.1    30.5     34.4     42.9    53.8      4.5      8.8     14.9    21.5       34.4   53.8
2000     11.8    14.1     18.9     20.5    21.4     20.3      5.0     8.0     13.0     19.2     22.1    20.3      2000    18.2     22.3    32.1     36.6     45.6    57.1      4.7      8.3     12.8    21.8       35.5   57.1
2001     7.3      9.0     13.1     14.5    16.4     17.1      2.5     4.4      8.1     12.4     16.0    17.1      2001    10.7     13.6    21.3     25.0     33.6    46.1      2.3      4.3     7.6     12.9       23.7   46.1
2002     5.9      7.4     11.0     12.2    14.0     14.8      1.9     3.5      7.2     10.2     13.5    14.8      2002     8.3     10.7    17.1     20.2     27.8    39.0      1.8      3.5     6.6     10.4       19.5   39.0
2003     6.9      8.6     12.8     14.0    15.6     15.8      2.2     4.1      8.6     12.2     15.4    15.8      2003     9.9     12.7    20.1     23.5     31.4    42.2      2.1      4.1     8.1     12.8       22.7   42.2
2004     9.3     11.4     16.1     17.7    18.6     17.4      3.3     5.8     10.4     16.6     19.4    17.4      2004    13.7     17.2    26.0     30.1     37.9    47.3      3.1      5.9     9.9     18.2       30.0   47.3
2005     11.0    13.2     17.1     18.5    19.3     18.2      4.4     7.9     11.8     17.5     20.0    18.2      2005    16.5     20.3    28.4     32.4     40.3    50.5      4.2      8.1     11.3    19.3       31.4   50.5


Notes: In Panel A, tax returns are ranked by total income excluding capital gains. Series report the additional income reported in the form of capital gains. The share of Capital gains reported are the share of
total income including capital gains. For example, the top decile (defined by income excluding capital gains) in 1999 earned 12.9% of their total income (including capital gains) in the form of capital gains.
In Panel B, average marginal tax rate on long-term capital gains (dollar weighted) are estimated from micro-files and using the TAXSIM calculator.
Details on estimation are presented in Appendix Section C.
                       Table B1: Aggregate Series on Wage Income



         Total      Married    Number of Total wage      Average
       Number of    Women      Tax units    income     wage income Share of officer   CPI (base
       Employees   Employees   with Wage (current mn$)   ($ 2004)  compensation        2000)
          (1)         (2)         (3)          (4)          (5)           (6)            (7)
1917    29,042      1,354        27,689     26,174        14,440          5.25         15.276
1918    32,119      1,406        30,713     32,773        13,885          6.79         13.012
1919    31,441      1,404        30,036     35,858        13,519          5.56         11.324
1920    30,406      1,399        29,008     42,377        14,286          5.75         9.779
1921    28,041      1,446        26,595     34,311        14,128          6.58         10.951
1922    30,410      1,554        28,856     35,727        14,470          6.74         11.687
1923    33,285      1,677        31,608     41,845        15,199          6.15         11.481
1924    32,993      1,761        31,233     41,829        15,345          6.30         11.458
1925    34,619      1,864        32,756     43,467        14,833                       11.178
1926    35,882      1,971        33,911     46,361        15,131                       11.067
1927    36,017      2,064        33,953     46,763        15,538                       11.282
1928    36,355      2,159        34,197     47,659        15,930          6.71         11.430
1929    37,699      2,274        35,425     50,460        16,282          6.61         11.430
1930    35,590      2,324        33,266     46,214        16,286          6.79         11.724
1931    32,724      2,338        30,386     39,157        16,565          6.89         12.855
1932    29,445      2,328        27,117     30,514        16,126          6.99         14.331
1933    30,940      2,449        28,491     29,027        15,385          6.87         15.101
1934    34,238      2,673        31,565     33,734        15,608          6.44         14.604
1935    35,577      2,787        32,790     36,722        15,957          6.39         14.248
1936    38,599      2,991        35,608     41,954        16,621          6.47         14.107
1937    39,701      3,047        36,654     46,139        17,141          6.09         13.617
1938    38,322      3,117        35,205     43,013        16,959          6.02         13.881
1939    39,633      3,220        36,413     45,985        17,779          5.86         14.078
1940    41,437      3,350        38,087     49,860        18,247          5.92         13.938
1941    45,785      3,896        41,889     62,085        19,675          5.59         13.275
1942    50,219      4,328        45,891     82,098        21,453          4.50         11.992
1943    55,995      4,887        51,108     105,786       23,394          3.54         11.302
1944    57,221      5,293        51,928     116,749       24,986          3.22         11.113
1945    55,548      5,338        50,210     117,493       25,421          3.50         10.863
1946    49,643      5,273        44,370     112,005       25,274          4.59         10.012
1947    49,936      5,354        44,582     123,097       24,166          4.90         8.752
1948    51,332      6,057        45,275     135,537       24,305          4.97         8.119
1949    50,358      6,270        44,088     134,719       25,059          5.01         8.201
1950    52,424      6,832        45,592     147,238       26,222          5.17         8.120
1951    56,415      7,557        48,858     171,591       26,428          4.73         7.525
1952    57,702      7,739        49,963     185,619       27,355          4.54         7.363
1953    58,918      8,227        50,691     198,970       28,672          4.41         7.305
1954    57,387      8,243        49,144     197,242       29,172          4.62         7.268
1955    59,080      8,615        50,465     212,129       30,675          4.94         7.298
1956    60,845      9,213        51,632     229,002       31,888          4.82         7.190
1957    61,308      9,583        51,725     239,926       32,190          4.93         6.940
1958    59,839      9,686        50,153     241,290       32,510          5.14         6.757
1959    61,587      10,072       51,515     259,814       33,810          5.16         6.704
1960    62,680      10,126       52,554     272,823       34,253          5.32         6.598
   1961         62,881          10,935        51,946         280,483        35,274            5.48           6.533
   1962         64,573          11,235        53,338         299,319        36,261            5.67           6.462
   1963         65,619          11,726        53,893         314,809        37,298            5.74           6.385
   1964         67,275          12,059        55,216         337,742        38,555            5.70           6.303
   1965         69,692          12,453        57,239         363,707        39,382            5.78           6.198
   1966         73,516          13,158        60,358         400,265        39,943            5.70           6.023
   1967         75,442          13,871        61,571         428,946        40,779            5.71           5.853
   1968         77,602          14,766        62,836         471,904        42,188            5.62           5.617
   1969         79,850          15,479        64,371         518,259        42,910            5.85           5.330
   1970         79,750          15,972        63,778         551,472        43,517            5.96           5.033
   1971         79,554          16,360        63,194         584,450        44,584            6.23           4.821
   1972         81,583          16,833        64,750         638,671        46,075            6.47           4.671
   1973         85,202          17,588        67,614         708,639        46,099            6.65           4.398
   1974         86,573          18,055        68,518         772,150        44,655            6.87           3.963
   1975         85,044          18,373        66,671         814,690        44,382            7.10           3.632
   1976         87,402          18,943        68,459         899,580        45,110            7.11           3.433
   1977         90,421          19,523        70,898         993,986        45,192            7.42           3.223
   1978         94,785          20,282        74,503        1,121,020       45,076            7.59           2.996
   1979         98,025          20,987        77,038        1,255,590       43,868            7.74           2.692
   1980         98,379          21,466        76,913        1,377,416       42,470            7.91           2.371
   1981         99,235          21,796        77,439        1,517,272       42,125            7.93           2.150
   1982         97,762          21,991        75,771        1,593,395       42,573            8.13           2.024
   1983         98,527          22,267        76,260        1,684,275       43,326            8.38           1.962
   1984         103,119         23,111        80,008        1,854,793       43,603            8.47           1.881
   1985         105,806         23,870        81,936        1,995,186       44,208            8.56           1.815
   1986         107,735         24,395        83,340        2,114,392       45,201            8.77           1.782
   1987         110,743         25,125        85,618        2,270,210       45,599            8.81           1.720
   1988         113,896         25,775        88,121        2,452,699       45,980            8.29           1.652
   1989         116,631         26,486        90,145        2,596,838       45,410            7.62           1.576
   1990         118,127         26,779        91,348        2,754,605       45,099            7.46           1.496
   1991         116,625         26,812        89,813        2,824,190       45,133            7.13           1.435
   1992         117,110         27,227        89,883        2,966,813       45,995            7.45           1.393
   1993         118,790         27,511        91,279        3,091,625       45,822            7.31           1.353
   1994         121,708         28,438        93,270        3,254,312       46,008            8.66           1.319
   1995         124,632         29,244        95,388        3,441,060       46,272            8.82           1.283
   1996         127,009         29,671        97,338        3,630,142       46,444            8.79           1.245
   1997         130,118         29,957        100,161       3,885,977       47,229            8.64           1.217
   1998         133,456         30,387        103,069       4,192,775       48,740                           1.198
   1999         136,294         31,061        105,233       4,475,588       49,861                           1.172
   2000         139,207         31,631        107,576       4,836,329       50,988                           1.134
   2001         138,840         31,712        107,128       4,950,605       50,961                           1.103
   2002         137,306         31,929        105,377       4,976,266       51,266                           1.086
   2003         136,969         32,441        104,528       5,103,553       51,823                           1.061
   2004         138,354         32,260        106,094       5,377,124       52,400                           1.034
   2005         140,454         32,750        107,704       5,664,795       52,596                           1.000

Notes: Total number of part-time and full time employees from NIPA 1929-2005 (includes military). From 1917 to 1929.
extrapolated using Lebergott series on employees. Married women employees from Historical Statistics and Statistical Abstract.
Total wage bill is from NIPA 1929-1999 (line 1). Wage bill 1917-1927 extrapolated from Kuznets (p. 570, (1))
Average wage is column (5) over column (2). Officer compensation share from Corporate Tax returns statistics.
                                               Table B2: Top Wage Income Shares, 1927-2005

                P90-100 P95-100 P99-100 P99.5-100 P99.9-100 P99.99-100                  P90-95    P95-99    P99-99.5 P99.5-99.9 P99.9-99.99 P99.99-100
   (1)            (2)     (3)     (4)      (5)       (6)        (7)                       (8)       (9)       (10)      (11)       (12)        (13)
  1927            27.89     18.85      8.65        6.08        2.53         0.68         9.04      10.20       2.57        3.55         1.86   0.68
  1928            29.11     19.78      8.87        6.20        2.59         0.69         9.33      10.91       2.66        3.61         1.91   0.69
  1929            29.24     19.76      8.67        6.08        2.56         0.72         9.49      11.09       2.60        3.51         1.85   0.72
  1930            28.63     19.23      8.54        5.99        2.56         0.73         9.40      10.69       2.55        3.43         1.82   0.73
  1931            29.34     19.69      8.47        5.81        2.45         0.67         9.65      11.22       2.66        3.36         1.78   0.67
  1932            30.28     19.68      8.29        5.66        2.37         0.62         10.61     11.39       2.63        3.29         1.75   0.62
  1933            30.08     19.81      8.31        5.77        2.45         0.63         10.27     11.50       2.54        3.32         1.82   0.63
  1934            29.77     19.94      8.31        5.76        2.37         0.59         9.83      11.64       2.55        3.38         1.78   0.59
  1935            30.31     20.12      8.40        5.85        2.40         0.60         10.19     11.72       2.55        3.45         1.80   0.60
  1936            29.70     19.95      8.60        6.02        2.45         0.59         9.75      11.35       2.58        3.57         1.86   0.59
  1937            30.06     20.05      8.41        5.89        2.41         0.60         10.01     11.64       2.52        3.48         1.81   0.60
  1938            29.83     19.66      8.13        5.74        2.36         0.59         10.18     11.53       2.38        3.39         1.77   0.59
  1939            30.65     20.06      8.20        5.70        2.32         0.57         10.59     11.86       2.50        3.38         1.75   0.57
  1940            30.85     20.07      8.37        5.84        2.39         0.58         10.78     11.70       2.53        3.45         1.81   0.58
  1941            29.33     19.05      8.11        5.75        2.39         0.57         10.29     10.94       2.36        3.36         1.83   0.57
  1942            27.08     17.45      7.21        5.12        2.18         0.51         9.63      10.24       2.09        2.94         1.67   0.51
  1943            25.88     16.26      6.42        4.51        1.86         0.41         9.62      9.83        1.91        2.65         1.45   0.41
  1944            24.61     15.13      5.56        3.84        1.56         0.36         9.48      9.56        1.73        2.28         1.20   0.36
  1945            24.05     14.99      5.73        3.96        1.57         0.35         9.05      9.27        1.77        2.38         1.22   0.35
  1946            25.10     16.18      6.40        4.33        1.68         0.37         8.92      9.79        2.06        2.66         1.31   0.37
  1947            24.97     16.07      6.27        4.23        1.60         0.34         8.90      9.80        2.04        2.63         1.26   0.34
  1948            25.03     16.13      6.21        4.20        1.58         0.35         8.90      9.92        2.01        2.62         1.23   0.35
  1949            25.00     16.05      6.12        4.11        1.54         0.34         8.95      9.93        2.01        2.58         1.20   0.34
  1950            25.18     16.13      6.24        4.21        1.57         0.34         9.06      9.89        2.03        2.64         1.23   0.34
  1951            24.71     15.63      5.97        4.00        1.48         0.31         9.08      9.66        1.97        2.52         1.17   0.31
  1952            24.43     15.41      5.74        3.78        1.39         0.30         9.01      9.67        1.96        2.40         1.09   0.30
  1954            24.13     15.26      5.61        3.65        1.32         0.28         8.88      9.65        1.96        2.34         1.04   0.28
  1956            24.53     15.57      5.56        3.57        1.26         0.25         8.96      10.02       1.99        2.31         1.00   0.25
  1958            24.67     15.60      5.40        3.43        1.20         0.25         9.07      10.20       1.97        2.23         0.95   0.25
  1960            25.23     15.72      5.26        3.31        1.14         0.23         9.51      10.46       1.95        2.17         0.91   0.23
  1961            25.21     15.63      5.20        3.26        1.11         0.22         9.58      10.44       1.93        2.15         0.89   0.22
  1962            25.22     15.62      5.16        3.24        1.09         0.21         9.60      10.47       1.92        2.15         0.88   0.21
  1964            25.15     15.43      5.12        3.24        1.07         0.21         9.72      10.31       1.88        2.17         0.86   0.21
  1966            25.34     15.47      5.16        3.27        1.11         0.22         9.87      10.31       1.89        2.16         0.88   0.22
  1967            25.77     15.81      5.34        3.38        1.14         0.23         9.97      10.47       1.96        2.24         0.91   0.23
  1968            25.60     15.66      5.24        3.32        1.12         0.23         9.95      10.42       1.92        2.20         0.89   0.23
  1969            25.71     15.68      5.19        3.27        1.10         0.24         10.03     10.49       1.92        2.17         0.87   0.24
  1970            25.67     15.64      5.13        3.21        1.06         0.21         10.03     10.51       1.92        2.15         0.85   0.21
  1971            25.67     15.67      5.18        3.25        1.08         0.22         10.00     10.49       1.93        2.18         0.86   0.22
  1972            25.81     15.80      5.32        3.38        1.14         0.24         10.02     10.47       1.94        2.24         0.90   0.24
  1973            26.14     16.06      5.42        3.43        1.14         0.24         10.09     10.63       1.99        2.29         0.91   0.24
  1974            26.61     16.48      5.66        3.63        1.26         0.27         10.14     10.81       2.04        2.37         0.99   0.27
  1975            26.46     16.32      5.64        3.63        1.26         0.27         10.15     10.68       2.01        2.37         0.99   0.27
  1976            26.66     16.49      5.74        3.70        1.30         0.29         10.16     10.76       2.03        2.40         1.02   0.29
  1977            26.94     16.70      5.86        3.79        1.35         0.30         10.24     10.84       2.06        2.45         1.05   0.30
  1978            27.43     17.07      6.06        3.93        1.40         0.31         10.36     11.02       2.13        2.53         1.09   0.31
  1979            27.63     17.24      6.22        4.06        1.47         0.34         10.39     11.03       2.16        2.59         1.13   0.34
  1980            28.06     17.60      6.43        4.23        1.57         0.38         10.47     11.17       2.20        2.66         1.19   0.38
  1981            28.14     17.66      6.43        4.24        1.59         0.39         10.49     11.23       2.18        2.65         1.20   0.39
  1982            28.55     18.02      6.67        4.42        1.67         0.41         10.53     11.35       2.25        2.75         1.26   0.41
  1983            29.09     18.49      6.96        4.66        1.80         0.47         10.59     11.54       2.30        2.86         1.33   0.47
  1984            29.61     18.95      7.27        4.93        1.99         0.52         10.66     11.68       2.34        2.94         1.47   0.52
  1985            29.74     19.05      7.28        4.92        1.98         0.54         10.70     11.77       2.35        2.95         1.44   0.54
  1986            29.94     19.19      7.33        4.96        2.02         0.58         10.76     11.86       2.37        2.94         1.44   0.58
  1987            30.59     19.98      8.15        5.68        2.43         0.69         10.61     11.83       2.47        3.25         1.74   0.69
  1988            31.95     21.37      9.39        6.79        3.16         1.10         10.58     11.99       2.59        3.64         2.06   1.10
  1989            31.53     20.83      8.69        6.12        2.69         0.82         10.70     12.13       2.57        3.44         1.86   0.82
  1990            31.79     21.13      8.99        6.41        2.87         0.91         10.66     12.14       2.59        3.54         1.96   0.91
  1991            31.43     20.77      8.56        5.97        2.57         0.78         10.66     12.21       2.59        3.40         1.79   0.78
  1992            32.45     21.85      9.63        6.97        3.33         1.22         10.60     12.22       2.66        3.64         2.11   1.22
  1993            31.85     21.29      9.05        6.41        2.90         0.96         10.56     12.23       2.64        3.51         1.94   0.96
  1994            31.54     20.94      8.72        6.07        2.63         0.83         10.59     12.22       2.65        3.44         1.80   0.83
  1995            32.43     21.73      9.25        6.52        2.91         0.94         10.70     12.48       2.73        3.61         1.97   0.94
  1996            33.15     22.46      9.80        6.98        3.21         1.11         10.69     12.66       2.82        3.77         2.10   1.11
  1997            33.87     23.18      10.43       7.54        3.67         1.36         10.68     12.75       2.89        3.87         2.31   1.36
  1998            34.34     23.72      10.97       8.08        4.12         1.65         10.61     12.75       2.89        3.96         2.48   1.65
  1999            35.10     24.50      11.64       8.71        4.67         1.97         10.60     12.86       2.93        4.04         2.69   1.97
  2000            35.74     25.21      12.33       9.38        5.21         2.21         10.53     12.88       2.95        4.17         3.00   2.21
  2001            34.57     23.89      10.97       8.05        4.10         1.55         10.69     12.91       2.92        3.95         2.55   1.55
  2002            33.82     23.18      10.47       7.65        3.85         1.51         10.64     12.71       2.82        3.80         2.34   1.51
  2003            33.71     23.09      10.40       7.58        3.80         1.48         10.62     12.69       2.82        3.78         2.32   1.48
  2004            34.71     24.06      11.25       8.37        4.43         1.89         10.65     12.81       2.88        3.94         2.55   1.89
  2005            35.20     24.54      11.62       8.68        4.62         1.95         10.65     12.92       2.94        4.06         2.67   1.95

Notes: Shares computed from Tax returns statistics and total number of tax units and total wage bill from Table B1.
Wage income is wages, salaries, and tips on individual income tax form. It includes bonuses, and profits from exercised stockoptions.
                                                                      Table B3: Average salary and threshold for each fractile (in 2005 dollars)


Year   P90-100   P95-100   P99-100   P99.5-100 P99.9-100 P99.99-100         P0-90     P90-95     P95-99    P99-99.5 P99.5-99.9 P99.9-99.99          P90      P95       P99      P99.5     P99.9     P99.99
(1)      (2)       (3)       (4)        (5)       (6)        (7)              (8)        (9)      (10)       (11)        (12)        (13)           (14)     (15)      (16)      (17)      (18)      (19)
1927   43,341    58,582    134,437    189,069   393,583   1,048,831         12,449     28,099    39,619     79,804     137,941     320,778         24,319   31,333    64,317    99,275    225,502   624,791
1928   46,372    63,020    141,238    197,631   412,754   1,091,226         12,548     29,723    43,466     84,845     143,851     337,368         26,030   34,889    71,249    104,375   235,667   652,258
1929   47,614    64,332    141,179    197,822   417,300   1,165,769         12,800     30,896    45,121     84,535     142,953     334,136         26,640   34,900    71,064    103,701   234,711   672,227
1930   46,625    62,634    139,102    195,111   416,281   1,192,167         12,916     30,615    43,517     83,093     139,819     330,072         26,603   34,128    73,475    101,695   227,571   658,132
1931   48,601    65,238    140,276    192,457   405,356   1,111,540         13,006     31,965    46,478     88,095     139,232     326,891         28,671   36,465    73,218    104,145   225,165   641,856
1932   48,830    63,456    133,685    182,418   382,348   1,001,427         12,492     34,203    45,899     84,952     132,435     313,562         28,507   36,785    68,420    103,741   214,129   623,215
1933   46,271    60,941    127,821    177,392   376,324   969,273           11,954     31,601    44,221     78,250     127,659     310,441         27,093   34,638    64,747    96,775    210,902   605,419
1934   46,461    62,252    129,657    179,650   370,226   927,125           12,180     30,670    45,400     79,664     132,006     308,348         26,218   35,660    66,392    96,380    215,127   586,833
1935   48,366    64,205    134,055    186,602   383,288   959,018           12,356     32,527    46,742     81,509     137,430     319,318         27,983   37,227    69,044    96,949    220,751   605,051
1936   49,357    66,308    142,892    199,953   406,886   985,635           12,984     32,405    47,163     85,832     148,219     342,581         28,078   36,946    73,022    103,531   237,890   637,605
1937   51,525    68,731    144,102    201,884   412,577   1,025,016         13,320     34,319    49,888     86,321     149,210     344,529         30,678   39,336    73,790    105,958   240,262   646,790
1938   50,597    66,668    137,829    194,830   399,564   993,822           13,222     34,526    48,877     80,829     143,646     333,535         30,839   39,254    71,816    102,578   230,875   623,859
1939   54,483    71,317    145,732    202,570   412,642   1,015,161         13,700     37,648    52,714     88,893     150,052     345,696         33,710   42,705    75,864    108,133   239,756   636,481
1940   56,297    73,239    152,707    213,268   436,827   1,060,136         14,019     39,355    53,372     92,146     157,378     367,570         35,986   43,674    77,703    112,460   254,202   680,567
1941   57,714    74,946    159,584    226,419   471,018   1,115,570         15,448     40,483    53,786     92,748     165,270     399,401         37,187   44,601    77,538    114,972   274,414   745,749
1942   58,094    74,866    154,717    219,848   468,313   1,100,526         17,381     41,322    54,903     89,587     157,731     398,068         37,753   45,928    77,093    109,321   267,376   740,562
1943   60,540    76,066    150,280    211,056   435,587   966,152           19,266     45,014    57,513     89,504     154,923     376,635         41,656   49,409    77,381    108,523   264,054   662,005
1944   61,487    75,597    139,021    191,791   388,779   889,493           20,930     47,378    59,741     86,251     142,544     333,144         43,769   51,864    76,994    101,524   232,328   604,952
1945   61,124    76,221    145,558    201,076   399,611   884,635           21,454     46,026    58,887     90,040     151,443     345,719         42,545   50,502    78,817    108,143   245,553   614,718
1946   63,449    81,808    161,705    219,078   423,598   932,623           21,033     45,089    61,834    104,333     167,948     367,040         41,212   49,994    91,409    123,468   266,138   634,673
1947   60,339    77,688    151,616    204,587   386,894   824,052           20,146     42,991    59,206     98,645     159,011     338,320         39,850   47,163    86,573    117,149   249,913   572,460
1948   60,842    78,403    150,909    204,015   383,044   838,517           20,245     43,282    60,276     97,803     159,257     332,436         39,164   49,013    84,053    117,275   243,635   562,928
1949   62,655    80,434    153,335    206,034   384,654   844,484           20,882     44,875    62,209    100,636     161,379     333,562         40,554   50,740    86,898    119,997   244,922   565,234
1950   66,037    84,581    163,493    220,578   411,420   891,541           21,798     47,493    64,853    106,408     172,867     358,073         43,141   53,379    91,364    127,644   262,351   600,793
1951   65,294    82,615    157,778    211,586   391,405   813,996           22,110     47,973    63,825    103,970     166,631     344,451         44,044   53,135    90,648    123,504   253,553   574,984
1952   66,814    84,329    157,070    206,965   378,861   817,902           22,970     49,298    66,143    107,175     163,991     330,079         45,119   54,913    93,817    125,662   242,666   551,604
1954   70,401    89,015    163,655    213,189   383,612   808,065           24,591     51,786    70,356    114,121     170,583     336,451         47,301   57,818    100,679   132,637   249,458   553,275
1956   78,224    99,305    177,169    227,361   400,512   809,953           26,739     57,143    79,839    126,978     184,073     355,019         51,794   64,390    113,352   145,663   266,571   567,783
1958   80,196    101,412   175,392    223,019   389,796   796,498           27,212     58,980    82,917    127,765     181,325     344,607         52,972   67,156    115,039   145,035   260,445   552,730
1960   86,403    107,677   180,204    226,891   390,482   794,666           28,458     65,128    89,545    133,518     185,993     345,573         57,998   73,780    121,227   150,134   263,768   551,276
1961   88,933    110,295   183,319    230,269   392,952   790,138           29,312     67,571    92,039    136,369     189,598     348,821         60,421   76,087    123,996   153,022   267,736   552,548
1962   91,466    113,303   186,964    234,612   395,250   768,743           30,128     69,629    94,887    139,316     194,452     353,751         63,979   78,822    126,963   155,893   274,720   548,709
1964   96,974    118,965   197,402    249,605   412,153   794,233           32,064     74,982    99,356    145,198     208,968     369,700         68,881   82,861    130,885   166,106   296,139   561,097
1966   101,231   123,584   205,946    260,907   441,370   894,722           33,133     78,879    102,993   150,984     215,792     390,997         72,523   87,129    137,553   171,705   305,120   616,956
1967   105,099   128,918   217,554    275,664   463,654   941,988           33,632     81,280    106,759   159,445     228,666     410,505         74,416   90,133    143,505   182,572   323,378   645,615
1968   108,009   132,099   221,106    279,959   473,348   970,320           34,874     83,920    109,847   162,254     231,611     418,128         76,948   92,841    146,842   185,861   325,608   659,709
1969   110,308   134,522   222,616    280,802   473,295   1,008,380         35,421     86,094    112,499   164,430     232,678     413,841         78,965   95,316    148,245   187,124   324,442   658,106
1970   111,703   136,103   223,371    279,377   459,972   909,499           35,940     87,303    114,286   167,365     234,229     410,024         80,006   96,846    151,377   190,064   324,626   635,497
1971   114,452   139,726   231,035    290,064   480,616   958,557           36,821     89,177    116,899   172,005     242,426     427,512         81,613   98,904    155,951   196,535   338,387   662,123
1972   118,923   145,559   245,255    311,557   526,172   1,119,614         37,980     92,287    120,635   178,954     257,903     460,234         84,735   102,098   161,735   205,518   361,583   728,640
1973   120,507   148,023   249,948    316,146   527,371   1,092,543         37,831     92,991    122,542   183,750     263,340     464,574         85,116   103,357   164,620   210,527   365,993   729,456
1974   118,846   147,148   252,928    324,019   561,764   1,214,624         36,412     90,543    120,703   181,836     264,583     489,224         82,509   100,989   164,173   208,133   376,463   802,315
1975   117,452   144,827   250,314    322,301   557,880   1,207,186         36,263     90,077    118,455   178,326     263,406     485,735         82,220   99,894    158,636   207,996   375,341   784,869
1976   120,246   148,792   258,708    333,907   587,787   1,299,177         36,762     91,700    121,313   183,509     270,436     508,744         83,959   101,989   163,943   212,329   387,728   838,993
1977   121,734   150,914   264,645    342,827   608,737   1,342,204         36,687     92,553    122,482   186,462     276,349     527,241         84,693   103,006   165,931   215,518   397,965   874,695
  1978     123,649     153,908     272,982      354,119      631,518     1,410,886        36,346      93,389    124,140    191,844      284,769   544,921     85,352   103,983   170,394   223,182   412,955   905,652
  1979     121,213     151,294     272,730      356,212      643,989     1,500,302        35,275      91,132    120,934    189,249      284,268   548,844     83,231   101,262   166,630   221,948   409,721   932,416
  1980     119,174     149,450     272,867      359,038      665,499     1,618,091        33,947      88,897    118,596    186,696      282,423   559,655     80,984   98,819    164,779   218,049   417,610   965,028
  1981     118,558     148,745     270,655      357,307      668,951     1,638,676        33,633      88,371    118,267    184,004      279,396   561,203     80,400   98,819    163,480   214,509   414,791   977,050
  1982     121,542     153,416     284,047      376,686      711,820     1,754,006        33,799      89,667    120,758    191,408      292,902   596,022     81,405   100,266   167,555   224,597   435,045   1,051,136
  1983     126,019     160,239     301,335      403,629      778,576     2,045,009        34,138      91,800    124,964    199,042      309,892   637,862     83,043   102,996   174,348   235,316   463,436   1,166,546
  1984     129,108     165,228     316,905      429,574      867,258     2,280,423        34,102      92,987    127,309    204,235      320,153   710,240     84,022   104,430   179,182   241,054   498,261   1,281,346
  1985     131,475     168,388     321,658      435,361      873,551     2,382,813        34,512      94,561    130,071    207,955      325,813   705,855     85,214   106,691   182,435   245,024   500,736   1,340,901
  1986     135,345     173,445     331,142      448,393      911,702     2,612,612        35,185      97,245    134,021    213,891      332,566   722,712     87,387   109,725   188,294   249,308   508,062   1,397,906
  1987     139,484     182,242     371,771      518,282     1,108,975    3,146,351        35,168      96,725    134,860    225,261      370,608   882,600     87,058   109,567   195,707   268,275   596,777   1,709,210
  1988     146,884     196,520     431,526      624,781     1,452,520    5,048,645        34,769      97,248    137,769    238,270      417,847   1,052,950   86,964   110,770   203,763   292,280   697,586   2,251,205
  1989     143,173     189,159     394,793      556,089     1,219,254    3,741,770        34,547      97,186    137,751    233,497      390,298   938,974     86,614   110,900   200,707   283,169   623,623   1,906,187
  1990     143,386     190,604     405,571      577,712     1,292,974    4,094,944        34,178      96,168    136,863    233,430      398,896   981,644     85,822   109,633   200,679   284,497   659,034   1,994,554
  1991     141,857     187,472     386,381      538,795     1,161,265    3,533,894        34,386      96,241    137,745    233,968      383,177   897,640     85,606   110,446   201,769   280,064   609,785   1,797,778
  1992     149,254     200,971     442,748      641,170     1,532,553    5,602,190        34,522      97,537    140,526    244,325      418,324   1,080,371   86,626   111,361   209,241   297,686   690,370   2,409,451
  1993     145,939     195,075     414,875      587,533     1,329,305    4,389,775        34,698      96,804    140,125    242,217      402,091   989,252     85,985   111,144   208,868   292,449   651,605   2,082,740
  1994     145,085     192,717     401,186      558,716     1,209,540    3,804,830        34,999      97,453    140,599    243,656      396,011   921,175     86,563   111,694   209,475   292,539   625,890   1,913,017
  1995     150,051     201,117     428,202      603,666     1,346,982    4,354,209        34,741      98,985    144,346    252,738      417,838   1,012,846   87,835   113,773   216,304   305,456   671,237   2,174,570
  1996     153,965     208,661     455,147      648,073     1,490,373    5,136,654        34,497      99,268    147,040    262,220      437,498   1,085,230   87,339   114,957   222,949   318,705   701,555   2,437,936
  1997     159,941     218,964     492,505      712,215     1,731,892    6,418,438        34,706     100,919    150,578    272,795      457,296   1,211,165   88,824   116,326   233,273   328,334   754,712   2,833,798
  1998     167,350     231,263     534,876      787,936     2,010,050    8,027,526        35,561     103,437    155,360    281,816      482,407   1,341,441   90,753   120,091   239,676   342,669   802,154   3,345,405
  1999     175,022     244,299     580,533      868,580     2,327,516    9,842,581        35,954     105,745    160,241    292,485      503,846   1,492,509   93,008   123,177   249,818   356,202   847,959   3,971,278
  2000     182,222     257,103     628,786      956,334     2,656,994 11,263,290          36,407     107,340    164,182    301,238      531,169   1,700,739   93,957   125,248   257,271   366,674   934,266   4,662,886
  2001     176,183     243,441     559,094      820,780     2,089,406    7,904,070        37,048     108,924    164,528    297,409      503,623   1,443,332   95,205   126,749   255,227   357,952   852,322   3,642,613
  2002     173,366     237,679     536,703      783,959     1,974,251    7,756,535        37,699     109,053    162,923    289,447      486,386   1,331,775   96,280   126,780   250,044   347,743   800,398   3,242,112
  2003     174,712     239,330     538,910      785,744     1,968,246    7,643,925        38,169     110,093    164,435    292,076      490,118   1,337,615   97,107   127,984   252,225   350,903   804,199   3,226,680
  2004     181,880     252,148     589,445      876,963     2,322,883    9,893,080        38,013     111,612    167,823    301,928      515,483   1,481,750   98,195   129,738   259,536   364,665   866,419   3,766,329
  2005     185,111     258,151     611,165      912,750     2,428,355 10,235,173          37,872     112,071    169,898    309,580      533,849   1,560,931   98,314   130,543   264,690   375,662   903,445   4,004,975

Notes: Levels computed from Tax returns statistics and total number of tax units and total wage bill from Table B1.
Wage income is wages, salaries, and tips on individual income tax form. It includes bonuses, and profits from exercised stockoptions.
                                               Table B4: CEO Pay versus Average annual wage, 1970 to 2005

                                           CEO pay statistics (in thousands of 2005 dollars)                      Composition of Pay of top 100 CEOs


                   Average
                annual wage          Total pay    Total pay Total pay Total pay Salary+bonus                      Share        Share Stock
  Year           (in $ 2005)          rank 10      rank 50 rank 100 average 100    rank 10                    Salary+bonus       options         Share Other
   (1)               (2)                 (3)          (4)        (5)         (6)            (7)                     (8)              (9)            (10)

  1970             38,973              1,917        1,379      1,158       1,504          1,761                    84.66                   15.34
  1971             39,775              1,856        1,355      1,200       1,437          1,615                    84.07                   15.93
  1972             41,058              2,336        1,560      1,336       1,767          1,948                    85.99                   14.01
  1973             41,001              2,362        1,676      1,381       1,826          1,949                    82.85                   17.15
  1974             39,670              2,092        1,597      1,407       1,690          1,886                    87.13                   12.87
  1975             39,264              2,321        1,587      1,362       1,764          1,871                    86.04                   13.96
  1976             39,746              2,437        1,716      1,469       1,877          2,231                    84.45                   15.55
  1977             39,850              2,634        1,873      1,547       2,047          2,214                    80.00                   20.00
  1978             39,740              3,945        2,301      1,839       2,756          2,247                    59.50                   40.50
  1979             38,714              6,958        3,198      2,296       4,048          2,552                    40.36           22.12            37.52
  1980             37,452              7,036        2,711      2,058       3,785          2,388                    43.44           38.10            18.46
  1981             37,078              5,657        2,984      2,223       4,107          2,397                    39.19           48.07            12.75
  1982             37,423              5,154        2,737      2,122       5,104          2,318                    32.66           55.29            12.06
  1983             38,084              7,296        2,754      1,989       3,741          2,788                    48.77           45.54            5.69
  1984             38,257              8,313        2,987      2,082       4,587          2,821                    42.68           15.76            41.56
  1985             38,664              6,512        3,586      2,580       4,352          3,295                    49.08           35.20            15.72
  1986             39,493              7,862        4,283      2,959       5,589          5,327                    52.44           30.53            17.04
  1987             39,781             14,819        5,367      3,365       8,528          5,159                    32.87           59.43            7.70
  1988             40,106             15,284        5,298      3,451       7,660          6,112                    38.32           51.90            9.78
  1989             39,459             15,125        5,237      3,391       7,867          6,269                    41.49           48.20            10.31
  1990             39,277             13,188        6,299      3,875       8,734          5,116                    35.68           38.56            25.76
  1991             39,221             14,310        6,453      4,451       9,720          5,193                    31.28           54.12            14.60
  1992             39,954             31,569        9,118      5,595       17,032         4,651                    17.29           67.55            15.16
  1993             39,834             22,693        10,528     4,914       16,861         6,173                    18.45           64.29            17.26
  1994             39,791             16,291        7,412      5,164       9,817          6,426                    41.23           34.22            24.54
  1995             39,806             22,278        10,775     6,548       13,673         6,598                    29.44           53.62            16.94
  1996             39,959             42,303        13,035     8,460       22,826         8,377                    22.37           58.28            19.35
  1997             40,768             53,684        15,408     10,254      26,820         10,302                   15.45           67.04            17.50
  1998             42,177             72,245        21,464     11,982      40,053         8,761                    9.24            78.72            12.04
  1999             43,090             102,607       22,778     13,352      44,942         11,409                   9.73            58.52            31.76
  2000             44,057             95,778        30,857     15,075      45,795
  2001             43,735             92,628        17,318     8,882       40,261
  2002             43,852             31,867        14,796     8,857       20,066
  2003             44,349             34,827        15,797     10,038      20,912
  2004             44,908             58,580        24,637     13,824      34,140
  2005             44,884             68,955        22,390     13,850      34,479



Notes: Average is the total wages and salaries divided by number of equivalent full-time employees (from National Income and Product Accounts)
CEO pay statistics are computed from the top 100 CEOs (in term of total pay) from Forbes survey of 800 CEOs from 1970 to 2005.
           P90-100
    1917    0.4029
    1918    0.3990
    1919    0.3948
    1920    0.3810
    1921    0.4286
    1922    0.4295
    1923    0.4059
    1924    0.4326
    1925    0.4417
    1926    0.4407
    1927    0.4467
    1928    0.4609
    1929    0.4376
    1930    0.4307
    1931    0.4440
    1932    0.4630
    1933    0.4503
    1934    0.4516
    1935    0.4339
    1936    0.4477
    1937    0.4335
    1938    0.4300
    1939    0.4457
    1940    0.4443
    1941    0.4102
    1942    0.3549
    1943    0.3267
    1944    0.3155
    1945    0.3264
    1946    0.3462
    1947    0.3302
    1948    0.3372
    1949    0.3376
    1950    0.3387
    1951    0.3282
    1952    0.3207
    1953    0.3138
    1954    0.3212
    1955    0.3177
    1956    0.3181
    1957    0.3169
    1958    0.3211
    1959    0.3203
    1960    0.3166
    1961    0.3190
    1962    0.3204
    1963    0.3201
    1964    0.3164
    1965    0.3152
    1966    0.3198
    1967    0.3205
    1968    0.3198
    1969    0.3182
    1970    0.3151
    1971    0.3175
    1972    0.3162
    1973    0.3185
    1974    0.3236
    1975    0.3262
    1976    0.3242
    1977    0.3243
    1978    0.3244
    1979    0.3235
    1980    0.3287
    1981    0.3272
    1982    0.3322
    1983    0.3369
    1984    0.3395
    1985    0.3425
    1986    0.3457
    1987    0.3648
    1988    0.3863
    1989    0.3847
    1990    0.3884
    1991    0.3838
    1992    0.3982
    1993    0.3948
    1994    0.3960
    1995    0.4054
    1996    0.4116
    1997    0.4173
    1998    0.4212
    1999    0.4267
    2000    0.4311
    2001    0.4223
    2002    0.4167
    2003    0.4204
    2004    0.4311
    2005    0.4428




7/17/20109:07 PM
                                                50%
        Share (in %), excluding capital gains




                                                45%



                                                40%



                                                35%



                                                30%



                                                25%
                                                      1917
                                                             1922


                                                                           1932
                                                                                  1937


                                                                                                1947
                                                                                                       1952


                                                                                                                     1962
                                                                                                                            1967


                                                                                                                                          1977




                                                                                                                                                               1992
                                                                    1927




                                                                                         1942




                                                                                                              1957




                                                                                                                                   1972


                                                                                                                                                 1982
                                                                                                                                                        1987


                                                                                                                                                                      1997
                                                                                                                                                                             2002
                                                                                   FIGURE 1
                                                                    The Top Decile Income Share, 1917-2005
Source: Table A1, col. P90-100.
Income is defined as market income but excludes capital gains.
       P90-95   P95-99   P99-100
1913                      0.180
1914                      0.182
1915                      0.176
1916                      0.186
1917    0.100    0.127    0.176
1918    0.106    0.134    0.159
1919    0.102    0.134    0.159
1920    0.106    0.130    0.145
1921    0.124    0.150    0.155
1922    0.119    0.148    0.163
1923    0.116    0.140    0.150
1924    0.123    0.146    0.163
1925    0.117    0.149    0.176
1926    0.113    0.147    0.180
1927    0.112    0.148    0.187
1928    0.113    0.152    0.196
1929    0.107    0.146    0.184
1930    0.119    0.148    0.164
1931    0.134    0.157    0.153
1932    0.137    0.171    0.155
1933    0.125    0.167    0.158
1934    0.122    0.171    0.159
1935    0.124    0.154    0.156
1936    0.121    0.150    0.176
1937    0.120    0.149    0.165
1938    0.128    0.155    0.147
1939    0.133    0.159    0.154
1940    0.131    0.156    0.157
1941    0.120    0.140    0.150
1942    0.104    0.122    0.129
1943    0.096    0.115    0.115
1944    0.098    0.112    0.105
1945    0.097    0.118    0.111
1946    0.100    0.129    0.118
1947    0.097    0.123    0.110
1948    0.100    0.124    0.113
1949    0.103    0.125    0.109
1950    0.100    0.125    0.114
1951    0.101    0.122    0.105
1952    0.102    0.121    0.098
1953    0.104    0.119    0.091
1954    0.106    0.122    0.094
1955    0.104    0.122    0.092
1956    0.105    0.123    0.091
1957    0.105    0.122    0.090
1958    0.109    0.124    0.088
1959    0.110    0.123    0.087
1960    0.111    0.122    0.084
1961    0.110    0.126    0.083
1962    0.111    0.127    0.083
1963    0.111    0.127    0.082
1964    0.110    0.126    0.080
1965    0.108    0.126    0.081
1966    0.110    0.126    0.084
1967    0.110    0.126    0.084
1968    0.110    0.126    0.084
1969    0.111    0.127    0.080
1970    0.111    0.126    0.078
1971    0.113    0.127    0.078
1972    0.113    0.126    0.078
1973    0.113    0.128    0.077
1974    0.113    0.129    0.081
1975    0.116    0.130    0.080
1976    0.116    0.130    0.079
1977    0.116    0.129    0.079
1978    0.116    0.129    0.080
1979    0.115    0.128    0.080
1980    0.117    0.130    0.082
1981    0.117    0.129    0.080
1982    0.118    0.130    0.084
1983    0.119    0.132    0.086
1984    0.119    0.132    0.089
1985    0.119    0.133    0.091
1986    0.120    0.135    0.091
1987    0.120    0.137    0.107
1988    0.117    0.138    0.132
1989    0.118    0.141    0.126
1990    0.118    0.141    0.130
1991    0.120    0.143    0.122
1992    0.119    0.144    0.135
1993    0.121    0.146    0.128
1994    0.121    0.147    0.129
1995    0.121    0.149    0.135
1996    0.120    0.151    0.141
1997    0.119    0.151    0.148
1998    0.118    0.151    0.153
1999    0.117    0.151    0.159
2000    0.116    0.150    0.165
2001    0.118    0.150    0.154
2002    0.120    0.150    0.146
2003    0.121    0.151    0.149
2004    0.119    0.151    0.161
2005    0.118    0.151    0.174




 7/17/20109:07 PM
                                                20%
                                                19%
        Share (in %), excluding capital gains



                                                18%
                                                17%
                                                16%
                                                15%
                                                14%
                                                13%
                                                12%
                                                11%
                                                10%
                                                 9%
                                                 8%
                                                 7%
                                                                                                P90-95               P95-99               P99-100
                                                 6%
                                                 5%
                                                                           1928
                                                                                  1933
                                                                                         1938
                                                                                                1943




                                                                                                                            1963
                                                                                                                                   1968
                                                                                                                                           1973
                                                                                                                                                  1978




                                                                                                                                                                       1993
                                                                                                                                                                              1998
                                                                                                                                                                                     2003
                                                      1913
                                                             1918
                                                                    1923




                                                                                                       1948
                                                                                                              1953
                                                                                                                     1958




                                                                                                                                                         1983
                                                                        FIGURE 2                                                                                1988
                                                The Income Shares of P90-95, P95-99, and P99-100, 1913-2005
Source: Table A1, col. P90-95, P95-99, P99-100.
Income is defined as market income but excludes capital gains.
        P99.99-100
 1913    0.0276
 1914    0.0273
 1915    0.0436
 1916    0.0440
 1917    0.0333
 1918    0.0245
 1919    0.0222
 1920    0.0167
 1921    0.0169
 1922    0.0201
 1923    0.0175
 1924    0.0201
 1925    0.0235
 1926    0.0254
 1927    0.0276
 1928    0.0323
 1929    0.0301
 1930    0.0239
 1931    0.0207
 1932    0.0193
 1933    0.0204
 1934    0.0192
 1935    0.0195
 1936    0.0223
 1937    0.0202
 1938    0.0167
 1939    0.0174
 1940    0.0177
 1941    0.0163
 1942    0.0132
 1943    0.0097
 1944    0.0092
 1945    0.0084
 1946    0.0092
 1947    0.0090
 1948    0.0095
 1949    0.0095
 1950    0.0083
 1951    0.0087
 1952    0.0075
 1953    0.0067
 1954    0.0071
 1955    0.0072
 1956    0.0068
 1957    0.0066
 1958    0.0064
 1959    0.0062
 1960    0.0060
 1961    0.0059
 1962    0.0056
 1963    0.0057
 1964    0.0053
 1965    0.0054
 1966    0.0060
 1967    0.0060
 1968    0.0058
 1969    0.0055
 1970    0.0053
 1971    0.0052
 1972    0.0052
 1973    0.0050
 1974    0.0056
 1975    0.0056
 1976    0.0056
 1977    0.0057
 1978    0.0058
 1979    0.0062
 1980    0.0065
 1981    0.0066
 1982    0.0077
 1983    0.0087
 1984    0.0098
 1985    0.0097
 1986    0.0100
 1987    0.0130
 1988    0.0199
 1989    0.0174
 1990    0.0183
 1991    0.0161
 1992    0.0202
 1993    0.0174
 1994    0.0173
 1995    0.0182
 1996    0.0197
 1997    0.0220
 1998    0.0241
 1999    0.0263
 2000    0.0284
 2001    0.0240
 2002    0.0219
 2003    0.0237
 2004    0.0283
 2005    0.0300




7/17/20109:07 PM
                                               4.5%

                                               4.0%
       Share (in %), excluding capital gains




                                               3.5%

                                               3.0%

                                               2.5%

                                               2.0%

                                               1.5%

                                               1.0%

                                               0.5%

                                               0.0%
                                                      1913


                                                                    1923
                                                                           1928
                                                                                  1933




                                                                                                       1948
                                                                                                              1953
                                                                                                                     1958




                                                                                                                                          1973
                                                                                                                                                 1978




                                                                                                                                                                      1993
                                                                                                                                                                             1998
                                                                                                                                                                                    2003
                                                             1918




                                                                                         1938
                                                                                                1943




                                                                                                                            1963
                                                                                                                                   1968




                                                                                                                                                        1983
                                                                                                                                                               1988
                                                                                  FIGURE 3
                                                                    The Top 0.01% Income Share, 1913-2004
Source: Table A1, col. P99.99-100.
Income is defined as market income but excludes capital gains.
      1929
                        Capital IncomeEntrepreneurial Income
              Wage Income
  P90-95         0.597      0.205        0.198
  P95-99         0.551      0.238        0.211
 P99-99.5        0.420      0.328        0.251
P99.5-99.9       0.330      0.472        0.197
P99.9-99.99      0.198      0.635        0.166
P99.99-100       0.088      0.706        0.206

      2000
                        Capital IncomeEntrepreneurial Income
              Wage Income
  P90-95         0.901      0.043        0.056
  P95-99         0.829      0.060        0.111
 P99-99.5        0.709      0.090        0.201
P99.5-99.9       0.639      0.112        0.249
P99.9-99.99      0.573      0.143        0.284
P99.99-100       0.596      0.159        0.245

      2004
                        Capital IncomeEntrepreneurial Income
              Wage Income
  P90-95         0.890      0.043        0.068
  P95-99         0.829      0.056        0.115
 P99-99.5        0.734      0.077        0.189
P99.5-99.9       0.606      0.110        0.285
P99.9-99.99      0.498      0.153        0.349
P99.99-100       0.419      0.249        0.332




                      7/17/20109:07 PM
                                                  Panel A: 1929
    100%
     90%
     80%
     70%
     60%
     50%
     40%
     30%
     20%
     10%
      0%
                                          P99-99.5



                                                            P99.5-99.9




                                                                                                  P99.99-100
                                                                                  P99.9-99.99
                P90-95



                           P95-99




               Wage Income          Capital Income                       Entrepreneurial Income


                                                  Panel B: 2000                                                                               Panel C: 2004

   100%                                                                                                        100%
    90%                                                                                                        90%
    80%                                                                                                        80%
    70%                                                                                                        70%
    60%                                                                                                        60%
    50%                                                                                                        50%

    40%                                                                                                        40%

    30%                                                                                                        30%

    20%                                                                                                        20%

    10%                                                                                                        10%

     0%                                                                                                         0%
                                                                                                                                          P99-99.5



                                                                                                                                                      P99.5-99.9
                                                                                                                      P90-95




                                                                                                                                                                        P99.9-99.99



                                                                                                                                                                                      P99.99-100
                                                                                                                               P95-99
                                       P99-99.5




                                                                                                P99.99-100
                                                         P99.5-99.9
              P90-95



                         P95-99




                                                                               P99.9-99.99




              Wage Income           Capital Income                       Entrepreneurial Income                        Wage Income      Capital Income             Entrepreneurial Income




                                                                      FIGURE 4
                                      Income Composition of Top Groups within the Top Decile in 1929, 2000, and 2004


Capital income does not include capital gains
Source: Table A4, rows 1929, 2000, and 2004.
       Figure 3
       United States Top 0.01% composition
                 share    Capital Income
       Top 0.1% Capital Gains                Salaries
                                    Business Income


1916    0.1013   0.0042   0.0597    0.0275   0.0099      0.0000
1917    0.0839   0.0010   0.0569    0.0132   0.0128      0.0000
1918    0.0674   0.0005   0.0390    0.0151   0.0128      0.0000
1919    0.0651   0.0019   0.0318    0.0194   0.0120      0.0000
1920    0.0535   0.0008   0.0281    0.0134   0.0111      0.0000
1921    0.0561   0.0007   0.0307    0.0120   0.0128      0.0000
1922    0.0635   0.0031   0.0362    0.0121   0.0121      0.0000
1923    0.0565   0.0027   0.0334    0.0095   0.0109      0.0000
1924    0.0638   0.0042   0.0373    0.0103   0.0120      0.0000
1925    0.0737   0.0099   0.0390    0.0129   0.0119      0.0000
1926    0.0755   0.0080   0.0443    0.0110   0.0122      0.0000
1927    0.0808   0.0101   0.0463    0.0120   0.0124      0.0000
1928    0.0934   0.0182   0.0475    0.0153   0.0124      0.0000
1929    0.0877   0.0170   0.0467    0.0128   0.0113      0.0000
1930    0.0664   0.0040   0.0438    0.0067   0.0119      0.0000
1931    0.0577   0.0016   0.0381    0.0058   0.0123      0.0000
1932    0.0596   0.0008   0.0376    0.0061   0.0151      0.0000
1933    0.0629   0.0034   0.0335    0.0099   0.0161      0.0000
1934    0.0589   0.0013   0.0348    0.0078   0.0150      0.0000
1935    0.0596   0.0028   0.0340    0.0084   0.0144      0.0000
1936    0.0692   0.0046   0.0415    0.0094   0.0136      0.0000
1937    0.0623   0.0015   0.0395    0.0076   0.0138      0.0000
1938    0.0536   0.0029   0.0279    0.0079   0.0149      0.0000
1939    0.0556   0.0018   0.0313    0.0082   0.0143      0.0000
1940    0.0568   0.0018   0.0310    0.0091   0.0150      0.0000
1941    0.0543   0.0020   0.0245    0.0131   0.0146      0.0000
1942    0.0457   0.0012   0.0157    0.0175   0.0112      0.0000
1943    0.0393   0.0020   0.0119    0.0174   0.0079      0.0000
1944    0.0346   0.0018   0.0106    0.0150   0.0072      0.0000
1945    0.0359   0.0038   0.0105    0.0147   0.0070      0.0000
1946    0.0371   0.0043   0.0123    0.0127   0.0078      0.0000
1947    0.0344   0.0029   0.0136    0.0097   0.0081      0.0000
1948    0.0362   0.0027   0.0150    0.0098   0.0087      0.0000
1949    0.0348   0.0021   0.0155    0.0081   0.0092      0.0000
1950    0.0382   0.0039   0.0165    0.0091   0.0086      0.0000
1951    0.0337   0.0034   0.0139    0.0081   0.0083      0.0000
1952    0.0298   0.0029   0.0128    0.0066   0.0076      0.0000
1953    0.0269   0.0023   0.0112    0.0060   0.0075      0.0000
1954    0.0289   0.0040   0.0119    0.0057   0.0074      0.0000
1955    0.0293   0.0054   0.0123    0.0048   0.0069      0.0000
1956    0.0279   0.0048   0.0121    0.0041   0.0068      0.0000
1957    0.0266   0.0036   0.0119    0.0045   0.0067      0.0000
1958    0.0263   0.0040   0.0114    0.0042   0.0067      0.0000
1959    0.0266   0.0055   0.0107    0.0042   0.0061      0.0000
1960    0.0252   0.0049   0.0106    0.0035   0.0062      0.0000
1961    0.0265   0.0069   0.0100    0.0037   0.0059      0.0000
1962    0.0244   0.0052   0.0101    0.0034   0.0057      0.0000
1963    0.0241   0.0051   0.0102    0.0033   0.0055      0.0000
1964    0.0248   0.0059   0.0100    0.0035   0.0055      0.0000
1965    0.0262   0.0068   0.0101    0.0037   0.0057      0.0000
1966    0.0275   0.0068   0.0097    0.0048   0.0061      0.0000
1967    0.0287   0.0083   0.0092    0.0051   0.0062      0.0000
1968    0.0300   0.0099   0.0099    0.0044   0.0059      0.0000
1969    0.0279   0.0088   0.0088    0.0041   0.0061      0.0000
1970    0.0229   0.0040   0.0084    0.0043   0.0061      0.0000
1971    0.0238   0.0054   0.0080    0.0042   0.0063      0.0000
1972    0.0239   0.0056   0.0075    0.0040   0.0069      0.0000
1973    0.0219   0.0038   0.0074    0.0040   0.0067      0.0000
1974    0.0231   0.0026   0.0084    0.0046   0.0074      0.0000
1975    0.0223   0.0025   0.0077    0.0040   0.0081      0.0000
1976    0.0224   0.0029   0.0074    0.0036   0.0085      0.0000
1977    0.0227   0.0030   0.0073    0.0035   0.0089      0.0000
1978    0.0228   0.0027   0.0075    0.0034   0.0092      0.0000
1979    0.0274   0.0069   0.0080    0.0029   0.0096      0.0000
1980    0.0277   0.0063   0.0087    0.0022   0.0105      0.0000
1981    0.0272   0.0059   0.0095    0.0010   0.0108      0.0000
1982    0.0328   0.0094   0.0104    0.0019   0.0111      0.0000
1983    0.0354   0.0108   0.0093    0.0030   0.0123      0.0000
1984    0.0387   0.0120   0.0091    0.0032   0.0143      0.0000
1985    0.0407   0.0136   0.0104    0.0042   0.0125      0.0000
1986    0.0489   0.0236   0.0091    0.0037   0.0124      0.0000
1987    0.0425   0.0070   0.0091    0.0078   0.0185      0.0000
1988    0.0610   0.0115   0.0123    0.0133   0.0240      0.0000
1989    0.0547   0.0094   0.0126    0.0130   0.0197      0.0000
1990    0.0540   0.0066   0.0127    0.0130   0.0217      0.0000
1991    0.0467   0.0043   0.0117    0.0124   0.0183      0.0000
1992    0.0567   0.0062   0.0097    0.0139   0.0269      0.0000
1993    0.0527   0.0073   0.0087    0.0135   0.0232      0.0000
1994    0.0518   0.0063   0.0089    0.0163   0.0202      0.0000
1995    0.0558   0.0077   0.0087    0.0165   0.0220     -0.0010
1996    0.0635   0.0127   0.0087    0.0171   0.0238     -0.0011
1997    0.0715   0.0169   0.0087    0.0178   0.0268     -0.0013
1998    0.0758   0.0182   0.0085    0.0179   0.0299     -0.0014
1999    0.0800   0.0190   0.0082    0.0178   0.0335     -0.0015
2000    0.0878   0.0188   0.0096    0.0186   0.0402     -0.0007
2001    0.0709   0.0116   0.0088    0.0186   0.0317     -0.0003
2002    0.0646   0.0090   0.0088    0.0192   0.0275      0.0000
2003    0.0677   0.0105   0.0099    0.0201   0.0272      0.0000
2004    0.0779   0.0145   0.0121    0.0217   0.0296      0.0000
2005    0.0858   0.0165   0.0140    0.0243   0.0318      0.0008




                 7/17/20109:07 PM
   10%

     9%                                                    Capital Gains                  Capital Income

     8%
                                                           Business Income                Salaries
     7%

     6%

     5%

     4%

     3%

     2%

     1%

     0%
                               1931
                                      1936
                                             1941
                                                    1946




                                                                                        1971
                                                                                               1976
                                                                                                      1981
                                                                                                             1986
          1916
                 1921
                        1926




                                                            1951
                                                                   1956
                                                                          1961
                                                                                 1966




                                                                                                                    1991
                                                                                                                           1996
                                                                                                                                  2001
                                     FIGURE 4B
                 The Top 0.1% Income Share and Composition, 1916-2005
The Figure displays the top 0.1% income share and its composition.
Source: Table A2, Table A7, and Table A8, col. P99.9-100.
                 Dividends
       Capital income
1916     0.518 0.36729
1917     0.593 0.43113
1918     0.501 0.34509
1919     0.436 0.28716
1920     0.454 0.31248
1921     0.465 0.30677
1922     0.508 0.31943
1923     0.519 0.33964
1924     0.519 0.3447
1925     0.519 0.34838
1926     0.549 0.37795
1927     0.556 0.3834
1928     0.553 0.38214
1929     0.570 0.39252
1930     0.583 0.40865
1931     0.552 0.37217
1932     0.513 0.32439
1933     0.448 0.28001
1934     0.469 0.31509
1935     0.468 0.32409
1936     0.517 0.39778
1937     0.516      0.401
1938     0.431 0.31354
1939     0.451 0.33781
1940     0.436 0.33178
1941     0.367 0.28274
1942     0.293 0.21867
1943     0.257 0.19238
1944     0.250 0.18317
1945     0.244 0.17651
1946     0.266 0.19795
1947     0.304 0.23116
1948     0.319 0.24459
1949     0.340 0.2567
1950     0.342 0.25883
1951     0.329 0.24974
1952     0.326 0.2438
1953     0.316 0.2344
1954     0.325 0.24148
1955     0.326 0.26495
1956     0.355 0.28149
1957     0.348 0.2763
1958     0.345 0.26918
1959     0.340 0.26437
1960     0.351 0.26786
1961     0.346 0.26891
1962     0.348 0.26801
1963     0.355 0.27336
1964     0.354 0.28135
1965     0.348 0.2762
1966     0.313 0.22927
1967     0.296 0.2167
1968     0.316 0.23172
1969     0.303 0.21019
1970     0.290 0.18788
1971     0.284 0.17782
1972     0.273 0.16856
1973     0.276 0.16641
1974     0.289 0.16073
1975     0.277 0.15719
1976     0.271 0.15902
1977     0.266 0.15709
1978     0.262 0.15432
1979     0.280 0.15555
1980     0.298 0.15268
1981     0.337 0.15079
1982     0.331 0.14949
1983     0.282 0.13022
1984     0.264 0.10272
1985     0.290 0.1117
1986     0.273 0.13052
1987     0.210 0.07954
1988     0.206 0.08451
1989     0.233 0.08229
1990     0.219 0.07541
1991     0.221 0.07276
1992     0.163 0.05945
1993     0.156 0.05819
1994     0.160 0.05983
1995     0.146 0.0554
1996     0.143 0.0548
1997     0.139 0.0541
1998     0.130 0.0498
1999     0.124 0.0488
2000     0.130 0.0522
2001     0.129 0.0459
2002     0.128 0.0473
2003     0.138 0.0593
2004     0.153 0.0751
2005     0.162 0.0765




 7/17/20109:07 PM
                                                65%
                                                60%
        Share (in %), excluding capital gains



                                                                                                       Capital income               Dividends
                                                55%
                                                50%
                                                45%
                                                40%
                                                35%
                                                30%
                                                25%
                                                20%
                                                15%
                                                10%
                                                5%
                                                0%
                                                                    1926
                                                                           1931
                                                                                  1936
                                                                                         1941




                                                                                                                            1966
                                                                                                                                   1971
                                                                                                                                          1976
                                                                                                                                                 1981
                                                      1916
                                                             1921




                                                                                                1946
                                                                                                       1951
                                                                                                              1956
                                                                                                                     1961




                                                                                                                                                        1986
                                                                                                                                                               1991
                                                                                                                                                                      1996
                                                                                                                                                                             2001
                                                                           FIGURE 5
                                                       The Capital Income Share in the Top 0.5%,1916-2004
Series display the share of capital income (excluding capital gains) and dividends
in total income (excluding capital gains) for the top 0.5% income quantile.
Source: Table A7, column P99.5-100
            Labor         Capital
1929        0.6706        0.3294
1930        0.6953        0.3047
1931        0.7427        0.2573
1932        0.7851        0.2149
1933        0.7895        0.2105
1934        0.7343        0.2657
1935        0.7174        0.2826
1936        0.6995        0.3005
1937        0.7126        0.2874
1938        0.7261        0.2739
1939        0.7163        0.2837
1940        0.6854        0.3146
1941        0.6645        0.3355
1942        0.6625        0.3375
1943        0.6733        0.3267
1944        0.6840        0.3160
1945        0.7067        0.2933
1946        0.7428        0.2572
1947        0.7214        0.2786
1948        0.6949        0.3051
1949        0.6959        0.3041
1950        0.6812        0.3188
1951        0.6858        0.3142
1952        0.7061        0.2939
1953        0.7177        0.2823
1954        0.7146        0.2854
1955        0.6932        0.3068
1956        0.7107        0.2893
1957        0.7161        0.2839
1958        0.7218        0.2782
1959        0.7073        0.2927
1960        0.7213        0.2787
1961        0.7207        0.2793
1962        0.7133        0.2867
1963        0.7092        0.2908
1964        0.7052        0.2948
1965        0.6962        0.3038
1966        0.6999        0.3001
1967        0.7096        0.2904
1968        0.7148        0.2852
1969        0.7289        0.2711
1970        0.7454        0.2546
1971        0.7334        0.2666
1972        0.7320        0.2680
1973        0.7380        0.2620
1974        0.7487        0.2513
1975        0.7222        0.2778
1976        0.7215        0.2785
1977        0.7142        0.2858
1978        0.7162        0.2838
1979        0.7289        0.2711
1980        0.7365        0.2635
1981        0.7218        0.2782
1982        0.7240        0.2760
1983        0.7131        0.2869
1984        0.7058        0.2942
1985        0.7109        0.2891
1986        0.7203        0.2798
1987        0.7173        0.2827
1988        0.7123        0.2877
1989        0.7156        0.2844
1990        0.7210        0.2790
1991        0.7209        0.2791
1992        0.7266        0.2734
1993        0.7220        0.2780
1994        0.7140        0.2860
1995        0.7056        0.2944
1996        0.6970        0.3030
1997        0.6896        0.3104
1998        0.7036        0.2964
1999        0.7079        0.2921
2000        0.7198        0.2802
2001        0.7253        0.2747
2002        0.7155        0.2845
2003        0.7087        0.2913
2004        0.6984        0.3016
2005        0.6926        0.3074
2006        0.6821        0.3179




       7/17/20109:07 PM
         Capital income   Dividends
1929       0.21336         0.06800
1930       0.21830         0.07190
1931       0.21985         0.06260
1932       0.23200         0.05000
1933       0.21109         0.04264
1934       0.18959         0.04833
1935       0.17355         0.04628
1936       0.17587         0.06541
1937       0.17093         0.06326
1938       0.16910         0.04665
1939       0.16963         0.05198
1940       0.16158         0.05089
1941       0.14330         0.04569
1942       0.11793         0.03473
1943       0.09974         0.02887
1944       0.09501         0.02766
1945       0.09715         0.02676
1946       0.10808         0.03120
1947       0.10984         0.03280
1948       0.10848         0.03316
1949       0.11527         0.03458
1950       0.11962         0.03828
1951       0.11171         0.03324
1952       0.11083         0.03115
1953       0.11415         0.03042
1954       0.12229         0.03150
1955       0.12279         0.03314
1956       0.12294         0.03324
1957       0.12497         0.03256
1958       0.12730         0.03135
1959       0.12893         0.03198
1960       0.13375         0.03247
1961       0.13502         0.03230
1962       0.13758         0.03276
1963       0.14075         0.03368
1964       0.14288         0.03528
1965       0.14388         0.03624
1966       0.14166         0.03414
1967       0.14038         0.03306
1968       0.13688         0.03289
1969       0.13678         0.03099
1970       0.13803         0.02889
1971       0.13667         0.02762
1972       0.13336         0.02695
1973       0.13526         0.02685
1974       0.14058         0.02709
1975       0.13734         0.02471
1976       0.13623         0.02643
1977       0.13866         0.02730
1978       0.14305         0.02743
1979       0.15153         0.02758
1980       0.16425         0.02754
1981       0.17923         0.02831
1982       0.18686         0.02749
1983       0.18732         0.02833
1984       0.19409         0.02773
1985       0.19431         0.02774
1986       0.19327         0.02858
1987       0.19119         0.02829
1988       0.19288         0.03029
1989       0.20257         0.03365
1990       0.20128         0.03373
1991       0.19792         0.03506
1992       0.18527         0.03438
1993       0.18171         0.03619
1994       0.18468         0.03986
1995       0.18778         0.04096
1996       0.18904         0.04542
1997       0.19132         0.04828
1998       0.19311         0.04750
1999       0.18091         0.04301
2000       0.18238         0.04462
2001       0.17737         0.04230
2002       0.16733         0.04472
2003       0.16038         0.04612
2004       0.15978         0.05519
2005       0.15550         0.05610
2006       0.15930         0.05877




       7/17/20109:07 PM
                                    A. Factor shares in the corporate sector                                                                                            B. The capital income share in the personal income sector

        100%                                                                                                                                               25%

         90%

         80%                                                                                                                                               20%

         70%

         60%                                                                                                                                               15%

         50%

         40%                                                                                                                                               10%

         30%

         20%                                                                                                                                               5%

         10%

          0%                                                                                                                                               0%
               1929
                      1933
                             1937
                                    1941
                                           1945
                                                  1949
                                                         1953
                                                                1957
                                                                       1961
                                                                              1965
                                                                                     1969
                                                                                            1973
                                                                                                   1977
                                                                                                          1981
                                                                                                                 1985
                                                                                                                        1989
                                                                                                                               1993
                                                                                                                                      1997
                                                                                                                                             2001
                                                                                                                                                    2005




                                                                                                                                                                         1933
                                                                                                                                                                                1937
                                                                                                                                                                                       1941
                                                                                                                                                                                              1945


                                                                                                                                                                                                            1953
                                                                                                                                                                                                                   1957
                                                                                                                                                                                                                          1961
                                                                                                                                                                                                                                 1965
                                                                                                                                                                                                                                        1969
                                                                                                                                                                                                                                               1973
                                                                                                                                                                                                                                                      1977
                                                                                                                                                                                                                                                             1981
                                                                                                                                                                                                                                                                    1985
                                                                                                                                                                                                                                                                           1989


                                                                                                                                                                                                                                                                                         1997
                                                                                                                                                                                                                                                                                                2001
                                                                                                                                                                                                                                                                                                       2005
                                                                                                                                                                 1929




                                                                                                                                                                                                     1949




                                                                                                                                                                                                                                                                                  1993
                                                                Labor                Capital                                                                                                           Capital income                          Dividends



                                                                                                    FIGURE 6
                                                                         Capital Income in the Corporate and Personal Sector, 1929-2006


Source: Authors' computations based on National Income and Product Accounts.
Panel A from NIPA Table 1.14; consumption of fixed capital and net interest have been included in the capital share.
Panel B from NIPA Table 2.1; capital income includes dividends, interest, and rents.
                                      Forbes
                                      statistic
           P99.9-100                  s
1/1/1916    0.2103
1/1/1917    0.1931
1/1/1918    0.2002
1/1/1919    0.2239
1/1/1920    0.2036
1/1/1921    0.1754                    Wealth      Wealth   Wealth
1/1/1922    0.1755
1/1/1923    0.1780
1/1/1924    0.1900
1/1/1925    0.1845
1/1/1926    0.1841             1983    1.156%     0.578%   0.578%
1/1/1927    0.2128             1984    1.136%     0.581%   0.556%
1/1/1928    0.1970             1985    1.126%     0.554%   0.572%
1/1/1929    0.2080             1986    1.190%     0.614%   0.576%
1/1/1930    0.2285             1987    1.568%     0.837%   0.730%
1/1/1931    0.1877             1988    1.453%     0.779%   0.673%
1/1/1932    0.1468             1989    1.632%     0.865%   0.767%
1/1/1933    0.1628             1990    1.597%     0.848%   0.749%
1/1/1934    0.1494             1991    1.619%     0.910%   0.709%
1/1/1935    0.1498             1992    1.616%     0.924%   0.692%
1/1/1936    0.1663             1993    1.692%     0.975%   0.717%
1/1/1937    0.1422             1994    1.752%     1.022%   0.731%
1/1/1938    0.1413             1995    1.872%     1.112%   0.760%
1/1/1939    0.1318             1996    2.035%     1.190%   0.845%
1/1/1940    0.1242             1997    2.473%     1.513%   0.960%
1/1/1941    0.1235             1998    2.648%     1.707%   0.941%
1/1/1942    0.1131             1999    3.207%     2.213%   0.994%
1/1/1943    0.1096             2000    3.651%     2.449%   1.202%
1/1/1944    0.1140             2001    2.952%     1.920%   1.032%
1/1/1945    0.1054             2002    2.873%     1.854%   1.019%
1/1/1946    0.1028             2003    3.028%     1.964%   1.063%
1/1/1947    0.1026             2004    2.900%     1.788%   1.112%
1/1/1948    0.0945             2005    3.043%     1.811%   1.233%
1/1/1949    0.0903             2006    3.152%     1.884%   1.268%
1/1/1950    0.0924
1/1/1953    0.0973
1/1/1954    0.0960
1/1/1956    0.1048
1/1/1958    0.1006
1/1/1960    0.1053
1/1/1962    0.1036
1/1/1965    0.1085
1/1/1969    0.0987
1/1/1972    0.0989
1/1/1976    0.0745
1/1/1982    0.0733
1/1/1983    0.0840
1/1/1984    0.0860
1/1/1985    0.0945
1/1/1986    0.0961
1/1/1987    0.0898
1/1/1988    0.0895
1/1/1989    0.0930
1/1/1990    0.0873
1/1/1991    0.0895
1/1/1992    0.0899
1/1/1993    0.0869
1/1/1994    0.0900
1/1/1995    0.0930
1/1/1996    0.0912
1/1/1997    0.0901
1/1/1998    0.0950
1/1/1999    0.0951
1/1/2000    0.0918
1/1/2001
1/1/2002
1/1/2003
1/1/2004
1/1/2005
1/1/2006




                       7/17/20109:07 PM
                        25%



                        20%
         Wealth Share




                        15%



                        10%



                        5%



                        0%
                              1916
                                     1920
                                            1924
                                                   1928
                                                          1932
                                                                 1936
                                                                        1940
                                                                               1944
                                                                                      1948
                                                                                             1952
                                                                                                    1956
                                                                                                           1960
                                                                                                                  1964
                                                                                                                         1968
                                                                                                                                1972
                                                                                                                                       1976
                                                                                                                                              1980
                                                                                                                                                     1984
                                                                                                                                                            1988
                                                                                                                                                                   1992
                                                                                                                                                                          1996
                                                                                                                                                                                 2000
                                             FIGURE 7A
                        The Top 0.1% Wealth Share in the United States, 1916-2000
Source: Kopczuk and Saez (2004), Table 3, col. Top 0.1%.
Top wealth shares are estimated from estate tax returns using the estate multiplier method.
                                        4.0%

                                                             Wealth Share of the 400 Wealthiest
                                        3.5%                 Americans (Top .0002%)
      Share of Total Household Wealth




                                                             Wealth Share of the 100 Wealthiest
                                        3.0%                 Americans (Top .00005%)

                                                             Wealth Share of the next 300 Wealthiest
                                        2.5%                 (Top .0002%-.00005%)


                                        2.0%


                                        1.5%


                                        1.0%


                                        0.5%


                                        0.0%
                                               1983


                                                              1985


                                                                            1987
                                                                                   1988


                                                                                                 1990


                                                                                                               1992


                                                                                                                             1994
                                                                                                                                    1995


                                                                                                                                                  1997


                                                                                                                                                                1999


                                                                                                                                                                              2001


                                                                                                                                                                                            2003
                                                                                                                                                                                                   2004


                                                                                                                                                                                                                 2006
                                                      1984


                                                                     1986



                                                                                          1989


                                                                                                        1991


                                                                                                                      1993



                                                                                                                                           1996


                                                                                                                                                         1998


                                                                                                                                                                       2000


                                                                                                                                                                                     2002



                                                                                                                                                                                                          2005
                                  FIGURE 7B
     Top Wealth shares in the US based on Forbes 400 Wealthiest Americans
Source: Kopczuk and Saez (2004), Figure 12 updated to 2006
The Figure displays the wealth share of the top 400 wealthiest Americans (top graph).
It then breaks down the top 400 into 2 groups: the top 100 (middle graph) and the next 300 (middle graph)
The size of the top groups is normalized to be a constant fraction of adult population.
The top 400 is formally defined as the top .0002% (approximately 400 people as total adult population
is around 200 million in recent years).
The top 100 is formally defined as the top .00005%.
The IT stock bubble and subsequent crash is clearly visible around year 2000.
Interestingly, the top 400 share has increased slightly since 2001 in spite of the real estate price boom
which favors primarily middle class wealth.
     year P90-100
1/1/1927 0.2789
1/1/1928 0.2911
1/1/1929 0.2924
1/1/1930 0.2863
1/1/1931 0.2934
1/1/1932 0.3028
1/1/1933 0.3008
1/1/1934 0.2977
1/1/1935 0.3031
1/1/1936    0.297
1/1/1937 0.3006
1/1/1938 0.2983
1/1/1939 0.3065
1/1/1940 0.3085
1/1/1941 0.2933
1/1/1942 0.2708
1/1/1943 0.2588
1/1/1944 0.2461
1/1/1945 0.2405
1/1/1946    0.251
1/1/1947 0.2497
1/1/1948 0.2503
1/1/1949     0.25
1/1/1950 0.2518
1/1/1951 0.2471
1/1/1952 0.2443
1/1/1954 0.2413
1/1/1956 0.2453
1/1/1958 0.2467
1/1/1960 0.2523
1/1/1961 0.2521
1/1/1962 0.2522
1/1/1964 0.2515
1/1/1966 0.2534
1/1/1967 0.2577
1/1/1968    0.256
1/1/1969 0.2571
1/1/1970 0.2567
1/1/1971 0.2567
1/1/1972 0.2581
1/1/1973 0.2614
1/1/1974 0.2661
1/1/1975 0.2646
1/1/1976 0.2666
1/1/1977 0.2694
1/1/1978 0.2743
1/1/1979 0.2763
1/1/1980 0.2806
1/1/1981 0.2814
1/1/1982 0.2855
1/1/1983 0.2909
1/1/1984 0.2961
1/1/1985 0.2974
1/1/1986 0.2994
1/1/1987 0.3059
1/1/1988 0.3195
1/1/1989 0.3153
1/1/1990 0.3179
1/1/1991 0.3143
1/1/1992 0.3245
1/1/1993 0.3185
1/1/1994 0.3154
1/1/1995 0.3243
1/1/1996 0.3315
1/1/1997 0.3387
1/1/1998 0.3434
1/1/1999    0.351
1/1/2000 0.3574
1/1/2001 0.3457
1/1/2002 0.3382
1/1/2003 0.3371
1/1/2004 0.3471
1/1/2005    0.352
                     37.5%



                     35.0%



                     32.5%
      Share (in %)




                     30.0%



                     27.5%



                     25.0%



                     22.5%



                     20.0%
                                                                              1962
                             1927

                                    1932

                                           1937

                                                  1942

                                                         1947

                                                                1952

                                                                       1957




                                                                                     1967

                                                                                            1972

                                                                                                   1977

                                                                                                          1982

                                                                                                                 1987

                                                                                                                        1992

                                                                                                                               1997

                                                                                                                                      2002
                                                     FIGURE 8
                                    The Top Decile Wage Income Share, 1927-2005
Source: Table B2, col. P90-100.
Wage income includes bonuses, and profits from exercised stockoptions.
     year    P90-95    P95-99 P99-100
1/1/1927    0.09042   0.10199 0.0865
1/1/1928    0.09329   0.10914 0.0887
1/1/1929    0.09488   0.11085 0.0867
1/1/1930    0.09399   0.10688 0.0854
1/1/1931    0.09648   0.11223 0.0847
1/1/1932    0.10605   0.11385 0.0829
1/1/1933     0.1027   0.11497 0.0831
1/1/1934    0.09825   0.11635 0.0831
1/1/1935    0.10192   0.11717   0.084
1/1/1936    0.09748    0.1135   0.086
1/1/1937    0.10011   0.11642 0.0841
1/1/1938    0.10179   0.11528 0.0813
1/1/1939    0.10588    0.1186   0.082
1/1/1940    0.10784     0.117 0.0837
1/1/1941    0.10288   0.10935 0.0811
1/1/1942    0.09631   0.10237 0.0721
1/1/1943    0.09621   0.09834 0.0642
1/1/1944    0.09481   0.09564 0.0556
1/1/1945    0.09053   0.09266 0.0573
1/1/1946     0.0892   0.09786   0.064
1/1/1947    0.08895     0.098 0.0627
1/1/1948    0.08904    0.0992 0.0621
1/1/1949    0.08954    0.0993 0.0612
1/1/1950    0.09056   0.09893 0.0624
1/1/1951    0.09076    0.0966 0.0597
1/1/1952    0.09011   0.09672 0.0574
1/1/1954    0.08876   0.09647 0.0561
1/1/1956     0.0896   0.10015 0.0556
1/1/1958    0.09071   0.10202   0.054
1/1/1960    0.09507   0.10457 0.0526
1/1/1961    0.09578   0.10437   0.052
1/1/1962    0.09601   0.10467 0.0516
1/1/1964    0.09724   0.10308 0.0512
1/1/1966    0.09874   0.10314 0.0516
1/1/1967    0.09966   0.10472 0.0534
1/1/1968    0.09946   0.10415 0.0524
1/1/1969    0.10032   0.10487 0.0519
1/1/1970    0.10031   0.10505 0.0513
1/1/1971    0.10001   0.10488 0.0518
1/1/1972    0.10015   0.10473 0.0532
1/1/1973    0.10086   0.10633 0.0542
1/1/1974    0.10138   0.10812 0.0566
1/1/1975    0.10148   0.10676 0.0564
1/1/1976    0.10164   0.10757 0.0574
1/1/1977     0.1024   0.10841 0.0586
1/1/1978    0.10359   0.11016 0.0606
1/1/1979    0.10387   0.11027 0.0622
1/1/1980    0.10466    0.1117 0.0643
1/1/1981    0.10489    0.1123 0.0643
1/1/1982    0.10531   0.11346 0.0667
1/1/1983    0.10594   0.11537 0.0696
1/1/1984    0.10663   0.11679 0.0727
1/1/1985    0.10695   0.11769 0.0728
1/1/1986    0.10757    0.1186 0.0733
1/1/1987    0.10606    0.1183 0.0815
1/1/1988    0.10575   0.11985 0.0939
1/1/1989    0.10701   0.12134 0.0869
1/1/1990    0.10662   0.12139 0.0899
1/1/1991    0.10662   0.12208 0.0856
1/1/1992    0.10603   0.12221 0.0963
1/1/1993    0.10563   0.12232 0.0905
1/1/1994    0.10591   0.12224 0.0872
1/1/1995    0.10696   0.12478 0.0925
1/1/1996    0.10687   0.12664   0.098
1/1/1997    0.10684   0.12753 0.1043
1/1/1998    0.10611    0.1275 0.1097
1/1/1999    0.10604   0.12855 0.1164
1/1/2000    0.10526    0.1288 0.1233
1/1/2001    0.10687   0.12914 0.1097
1/1/2002    0.10636   0.12712 0.1047
1/1/2003    0.10622   0.12692   0.104
1/1/2004     0.1065   0.12811 0.1125
1/1/2005    0.10654   0.12921 0.1162
                      13%

                      12%

                      11%

                      10%
       Share (in %)




                      9%

                      8%

                      7%

                      6%

                      5%
                                                                  P90-95            P95-99          P99-100
                      4%
                                   1932



                                                 1942



                                                               1952

                                                                      1957



                                                                                     1967



                                                                                                    1977



                                                                                                                  1987



                                                                                                                                1997

                                                                                                                                       2002
                            1927



                                          1937



                                                        1947




                                                                             1962



                                                                                             1972



                                                                                                           1982



                                                                                                                         1992
                                      FIGURE 9
             Wage Income Shares for P90-95, P95-99, and P99-100, 1927-2005
Source: Table B2, col. P90-95, P95-99, P99-100.
Wage income includes bonuses, and profits from exercised stockoptions.
                      P99-99.9P99.5-100
     year Officers Compensation
1/1/1917       0.05
1/1/1918       0.07
1/1/1919       0.06
1/1/1920       0.06
1/1/1921       0.07
1/1/1922       0.07
1/1/1923       0.06
1/1/1924       0.06
1/1/1927                0.0604     0.06
1/1/1928       0.07     0.0619 0.0611
1/1/1929       0.07      0.061 0.0607
1/1/1930       0.07     0.0599 0.0599
1/1/1931       0.07     0.0601    0.058
1/1/1932       0.07     0.0592 0.0566
1/1/1933       0.07     0.0587 0.0577
1/1/1934       0.06     0.0594 0.0576
1/1/1935       0.06     0.0596 0.0581
1/1/1936       0.06     0.0609 0.0596
1/1/1937       0.06     0.0596 0.0584
1/1/1938       0.06     0.0582    0.057
1/1/1939       0.06     0.0582 0.0564
1/1/1940       0.06     0.0591 0.0578
1/1/1941       0.06     0.0567    0.057
1/1/1942       0.04     0.0503 0.0512
1/1/1943       0.04     0.0455    0.045
1/1/1944       0.03        0.04 0.0383
1/1/1945       0.04     0.0417 0.0397
1/1/1946       0.05     0.0472 0.0433
1/1/1947       0.05     0.0468 0.0424
1/1/1948       0.05     0.0462 0.0418
1/1/1949       0.05     0.0457    0.041
1/1/1950       0.05     0.0467 0.0421
1/1/1951       0.05     0.0448 0.0399
1/1/1952       0.05     0.0435 0.0378
1/1/1953       0.04
1/1/1954       0.05      0.043 0.0366
1/1/1955       0.05
1/1/1956       0.05      0.043 0.0357
1/1/1957       0.05
1/1/1958       0.05      0.042 0.0343
1/1/1959       0.05
1/1/1960       0.05     0.0412 0.0331
1/1/1961       0.05     0.0409 0.0327
1/1/1962       0.06     0.0407 0.0324
1/1/1963       0.06
1/1/1964       0.06     0.0405 0.0323
1/1/1965       0.06
1/1/1966       0.06     0.0405 0.0327
1/1/1967       0.06      0.042 0.0338
1/1/1968       0.06     0.0412 0.0332
1/1/1969       0.06     0.0409 0.0327
1/1/1970       0.06     0.0408 0.0321
1/1/1971       0.06     0.0411 0.0326
1/1/1972       0.06     0.0418 0.0338
1/1/1973       0.07     0.0428 0.0343
1/1/1974       0.07     0.0441 0.0363
1/1/1975       0.07     0.0438 0.0363
1/1/1976       0.07     0.0443    0.037
1/1/1977       0.07     0.0451 0.0379
1/1/1978       0.08     0.0466 0.0393
1/1/1979       0.08     0.0473 0.0405
1/1/1980       0.08     0.0485 0.0422
1/1/1981       0.08     0.0483 0.0423
1/1/1982       0.08     0.0501 0.0443
1/1/1983       0.08     0.0517 0.0467
1/1/1984       0.08     0.0529 0.0494
1/1/1985       0.09     0.0529 0.0491
1/1/1986       0.09     0.0532 0.0497
1/1/1987       0.09     0.0572 0.0568
1/1/1988       0.08     0.0623    0.068
1/1/1989       0.08        0.06 0.0612
1/1/1990       0.07     0.0614 0.0642
1/1/1991       0.07        0.06 0.0598
1/1/1992       0.07     0.0629 0.0696
1/1/1993       0.07     0.0616 0.0641
1/1/1994       0.09      0.061 0.0608
1/1/1995       0.09     0.0635 0.0653
1/1/1996       0.09
1/1/1997       0.09
1/1/1998
1/1/1999
1/1/2000
1/1/2001
1/1/2002
1/1/2003
1/1/2004
                         8%


                         7%


                         6%


                         5%
          Share (in %)




                         4%


                         3%


                         2%


                         1%
                                                    Officers Compensation             P99.5-100            P99-99.9
                         0%
                              1917

                                     1920

                                            1923

                                                   1926

                                                          1929

                                                                 1932

                                                                        1935

                                                                               1938

                                                                                      1941

                                                                                             1944

                                                                                                    1947

                                                                                                            1950

                                                                                                                   1953

                                                                                                                          1956

                                                                                                                                 1959
                                                                 FIGURE 10
 Shares of Officers Compensation and Wages Shares P99.5-100 and P99-99.9, 1917-1960

Source: Officers compensation from Authors' computations based on corporate income tax returns
(Table B1, col. Officers compensation, and Table B2, col. P99.5-100, and P99-99.5+P99.5-99.9
                   Rank 10 CEO Rank           Rank      Top 100   Salary+Bonus rank 10
       Average Salary (right scale)pay 50 CEO pay 100 CEO pay CEOs average pay
1970     38,973      1,917,477      1,378,973 1,157,532 1,503,785 1,761,462
1971     39,775      1,855,946      1,354,600 1,200,339 1,437,033 1,614,914
1972     41,058      2,335,581      1,560,168 1,335,953 1,766,634 1,947,875
1973     41,001      2,361,972      1,675,813 1,381,116 1,826,240 1,948,517
1974     39,670      2,092,240      1,596,918 1,406,714 1,690,435 1,886,186
1975     39,264      2,320,885      1,587,209 1,362,022 1,763,727 1,870,510
1976     39,746      2,437,392      1,716,473 1,469,301 1,877,135 2,231,415
1977     39,850      2,633,538      1,872,810 1,547,244 2,046,874 2,214,493
1978     39,740      3,945,399      2,300,734 1,839,389 2,756,088 2,246,811
1979     38,714      6,957,778      3,197,617 2,295,932 4,048,162 2,551,634
1980     37,452      7,036,096      2,710,569 2,058,420 3,784,836 2,388,051
1981     37,078      5,656,653      2,984,201 2,223,101 4,106,502 2,397,251
1982     37,423      5,154,334      2,737,101 2,121,658 5,103,722 2,318,033
1983     38,084      7,295,594      2,754,239 1,989,172 3,740,978 2,787,588
1984     38,257      8,313,280      2,986,762 2,082,082 4,587,351 2,821,249
1985     38,664      6,512,111      3,585,564 2,579,791 4,351,695 3,295,088
1986     39,493      7,862,309      4,283,026 2,959,278 5,588,956 5,327,058
1987     39,781     14,818,783      5,367,230 3,365,482 8,528,066 5,159,145
1988     40,106     15,284,152      5,297,911 3,450,994 7,660,248 6,112,339
1989     39,459     15,124,792      5,236,536 3,390,665 7,867,414 6,269,025
1990     39,277     13,187,848      6,299,299 3,874,996 8,734,070 5,116,311
1991     39,221     14,309,724      6,453,011 4,450,798 9,719,704 5,192,837
1992     39,954     31,569,154      9,117,501 5,594,798 17,032,433 4,651,416
1993     39,834     22,693,334 10,528,170 4,913,687 16,861,036 6,173,225
1994     39,791     16,291,349      7,411,872 5,163,652 9,817,005 6,425,556
1995     39,806     22,277,733 10,774,583 6,548,125 13,673,459 6,598,149
1996     39,959     42,302,567 13,034,854 8,459,517 22,825,628 8,377,325
1997     40,768     53,684,253 15,407,746 10,253,571 26,820,215 10,302,264
1998     42,177     72,245,420 21,463,828 11,981,594 40,053,272 8,760,942
1999     43,090    102,606,764 22,777,926 13,352,092 44,941,531 11,409,479
2000     44,057     95,777,524 30,856,720 15,075,073 45,794,504
2001     43,735     92,628,000 17,317,850 8,881,684 40,261,045
2002     43,852     31,866,794 14,795,685 8,857,436 20,066,017
2003     44,349     34,827,085 15,797,010 10,037,783 20,912,002
2004     44,908     58,579,661 24,637,369 13,824,014 34,140,477
2005     44,884     68,955,000 22,390,000 13,850,000 34,479,120
2006
2007
2008
2009
2010




                             7/17/20109:07 PM
                            $100,000,000                                                                                                                                 $1,000,000
                                                          Rank 10 CEO pay
                                                          Rank 50 CEO pay




                                                                                                                                                                                      Average Wage Income (2005 dollars)
                                                          Rank 100 CEO pay
                                                          Top 100 CEOs average pay
   CEO pay (2005 dollars)




                                                          Salary+Bonus rank 10
                                                          Average Salary (right scale)



                             $10,000,000                                                                                                                                 $100,000




                              $1,000,000                                                                                                                                 $10,000
                                                         1974
                                                                1976
                                                                       1978




                                                                                                   1986
                                                                                                          1988
                                                                                                                 1990




                                                                                                                                             1998
                                                                                                                                                    2000
                                                                                                                                                           2002
                                           1970
                                                  1972




                                                                              1980
                                                                                     1982
                                                                                            1984




                                                                                                                        1992
                                                                                                                               1994
                                                                                                                                      1996




                                                                                                                                                                  2004
                                                        FIGURE 11
                                       CEO Pay versus Average Wage Income, 1970-2005
Source: Table B4. Logarithmic scales.
The average wage income (right scale) is estimated as the total wages and salaries from National Income and
Products Accounts divided by the total number of full-time equivalent employees.
CEO pay includes salary, bonus, and profits from exercised stock-options
All estimates are expressed in 2000 dollars using the official CPI.
          France United States United Kingdom
     1913      0.08 0.08617      0.1164
     1914            0.08603       0.108
     1915 0.07902 0.09219        0.0985
     1916 0.09391 0.09867
     1917 0.08889 0.08358        0.0785
     1918 0.07672 0.06741          0.073
     1919 0.08256 0.06454        0.0741
     1920 0.07628 0.05371        0.0745
     1921 0.07235 0.05602          0.075
     1922 0.07257 0.06169        0.0864
     1923 0.07608 0.05504        0.0899
     1924 0.07053 0.0614         0.0878
     1925 0.07069 0.06752        0.0851
     1926 0.06982 0.07068        0.0848
     1927 0.06867 0.07473        0.0826
     1928 0.06772 0.08192        0.0842
     1929 0.06253 0.07622        0.0818
     1930 0.0579 0.06402         0.0764
     1931 0.05373 0.05675        0.0703
     1932 0.05216 0.05896        0.0668
     1933 0.05201 0.06054        0.0648
     1934 0.05311 0.05824        0.0661
     1935 0.05309 0.05797        0.0662
     1936 0.05168 0.06687        0.0669
     1937 0.05237 0.06161          0.068
     1938 0.05053 0.05156        0.0636
     1939 0.04988 0.05451        0.0613
     1940 0.04898 0.05573        0.0533
     1941 0.04273 0.05289        0.0433
     1942 0.03644 0.04477        0.0391
     1943 0.03012 0.03783          0.037
     1944 0.02324 0.03327        0.0364
     1945 0.01959 0.03319        0.0366
     1946 0.02615 0.03432        0.0408
     1947 0.02587 0.03236          0.039
     1948 0.02433 0.03437        0.0376
     1949 0.0261 0.03337         0.0352
     1950 0.02603 0.03532          0.034
     1951 0.02551 0.03117        0.0314
     1952 0.02526 0.02756        0.0287
     1953 0.02479 0.02506        0.0267
     1954 0.0245 0.02566         0.0267
     1955 0.02482 0.02487        0.0256
     1956 0.02456 0.02383        0.0235
     1957 0.02443 0.02359        0.0225
     1958 0.02341 0.02293        0.0225
     1959 0.02375 0.02191        0.0229
     1960 0.02454 0.02096        0.0234
     1961 0.0248 0.02053
     1962 0.02338 0.01984        0.0223
     1963 0.02289 0.01964        0.0215
     1964 0.02304 0.01969        0.0221
     1965 0.02302 0.02037        0.0225
     1966 0.02263 0.02154        0.0192
     1967 0.02291 0.0216           0.018
     1968 0.02153 0.02145        0.0175
     1969 0.02095 0.02001        0.0174
     1970 0.02016 0.01938        0.0156
     1971 0.0207 0.01914         0.0153
     1972 0.02114 0.01916        0.0148
     1973 0.02257 0.01886        0.0156
     1974 0.02088 0.02107        0.0148
     1975 0.02076 0.02038        0.0134
     1976 0.02082 0.02019        0.0122
     1977 0.01936 0.02042        0.0117
     1978 0.01927 0.02079                                     top 0.5% UK
                                                                        top
                                 0.0114 top 0.1% P99.9-100/P99.5-100 0.5% corr
     1979 0.01969 0.02158        0.0118            0.34706       0.034      0.034
     1980 0.01907 0.02231
     1981 0.01889 0.02225        0.0135                0.36 0.0375 0.0375
     1982 0.01719 0.0245         0.0139            0.34925 0.0398 0.0398
     1983 0.0163 0.02609         0.0136            0.36267 0.0375 0.0375
     1984 0.01648 0.0283         0.0144            0.36456 0.0395 0.0395
     1985 0.01704 0.02911        0.0164            0.37615 0.0436 0.0436
     1986 0.01805 0.02868        0.0171            0.37832 0.0452 0.0452
     1987 0.01977 0.03726 0.01802 0.01802 0.38422 0.0469 0.0469
     1988 0.02063 0.05213 0.02115 0.02115 0.39013 0.0542 0.0542
     1989 0.02195 0.0474 0.02249 0.02249 0.39604 0.0568 0.0568
     1990 0.02198 0.04898 0.02393 0.02199 0.40194 0.0547 0.05952
     1991 0.02073 0.04357        0.0257 0.02361 0.40785 0.0579 0.06301
     1992 0.01972 0.05214        0.0231 0.02123 0.41375 0.0513 0.05582
     1993 0.01939 0.04716 0.02416 0.0222 0.41966 0.0529 0.05757
     1994 0.01978 0.04705 0.02416 0.0222 0.41966 0.0529 0.05757
     1995 0.01958 0.04983 0.02496 0.02294 0.42557 0.0539 0.05865
     1996 0.01918 0.05325 0.02939 0.02701 0.43147 0.0626 0.06812
     1997 0.01995 0.05806 0.03103 0.02852 0.43738 0.0652 0.07095
     1998 0.01995       0.062 0.03348 0.03076 0.44328 0.0694 0.07552
     1999            0.06635
     2000            0.07127
     2001            0.06258
     2002            0.05783
     2003            0.05998
     2004            0.06811
     2005            0.07451
Extrapolation Atkinson:
1) Discontinuity 1989-1990 due to switch from family taxation to individual taxation:
I assume that the increase from 1989 to 1990 is the same as the increase from 1988 to 1989
2) Top 0.1% extrapolated from top 0.5%. I assume that the ratio P99.9-100/P99.5-100 grows linearly from 1987 to 1993 (because top 0.1% estimated for 1987 and 1993)
I also assume that the ratio grows at the same annual rate from 1994 to 1998




                                                                    7/17/20109:07 PM
                        12%
                        11%
                        10%                                      United States                France              United Kingdom

                        9%
                        8%
         share (in %)




                        7%
                        6%
                        5%
                        4%
                        3%
                        2%
                        1%
                        0%
                                            1923
                                                   1928
                                                          1933




                                                                                      1953
                                                                                             1958
                                                                                                    1963
                                                                                                           1968




                                                                                                                                       1988
                                                                                                                                              1993
                                                                                                                                                     1998
                              1913
                                     1918




                                                                 1938
                                                                        1943
                                                                               1948




                                                                                                                  1973
                                                                                                                         1978
                                                                                                                                1983




                                                                                                                                                            2003
                                   FIGURE 12
        Top 0.1% Income Shares in the U.S., France, and the U.K.,1913-2005
Sources: United States: Table A1, column P99.9-100.
France: Computations based on income tax returns by Piketty (2001b), Table A1, col. P99.9-100;
United Kingdom: Computations based on income tax returns by Atkinson (2001), col. Top 0.1% in Tables 1 and 4.
Years 1987-1992 and 1994-1998 are extrapolated from Atkinson top 0.5% series.
Discontinuity from 1989 to 1990 due to switch from family to individual base corrected.
NEED TO UPDATE UK SERIES WITH MOST RECENT ATKINSON ESTIMATES
In all three countries, income is defined before individual taxes and excludes capital gains.
The unit is the family as in the current U.S. tax law.
                   Price
       Average Income Index
1913        14,470       5.07
1914        14,143       5.13
1915        14,279       5.18
1916        15,529       5.58
1917        15,820       6.55
1918        14,979       7.69
1919        14,665       8.83
1920        13,082      10.23
1921        11,546       9.13
1922        13,030       8.56
1923        14,493       8.71
1924        14,319       8.73
1925        14,465       8.95
1926        14,617       9.04
1927        14,726       8.86
1928        15,028       8.75
1929        15,668       8.75
1930        14,195       8.53
1931        12,880       7.78
1932        10,833       6.98
1933        10,550       6.62
1934        11,588       6.85
1935        12,547       7.02
1936        13,771       7.09
1937        14,441       7.34
1938        13,283       7.20
1939        14,153       7.10
1940        14,818       7.17
1941        17,319       7.53
1942        20,122       8.34
1943        23,268       8.85
1944        23,000       9.00
1945        22,508       9.21
1946        22,659       9.99
1947        21,875      11.43
1948        22,261      12.32
1949        21,990      12.19
1950        23,735      12.32
1951        24,455      13.29
1952        25,232      13.58
1953        26,344      13.69
1954        26,024      13.76
1955        27,820      13.70
1956        29,265      13.91
1957        29,388      14.41
1958        28,495      14.80
1959        30,176      14.92
1960        30,553      15.16
1961        30,915      15.31
1962        32,012      15.48
1963        32,856      15.66
1964        34,442      15.86
1965        35,823      16.13
1966        37,393      16.60
1967        38,370      17.08
1968        39,625      17.80
1969        40,227      18.76
1970        40,379      19.87
1971        40,262      20.74
1972        41,936      21.41
1973        42,815      22.74
1974        41,546      25.24
1975        39,365      27.53
1976        40,297      29.13
1977        40,698      31.02
1978        41,456      33.38
1979        40,774      37.15
1980        38,843      42.17
1981        38,235      46.51
1982        37,411      49.40
1983        37,424      50.98
1984        38,607      53.17
1985        39,228      55.08
1986        39,718      56.13
1987        40,748      58.15
1988        42,591      60.53
1989        42,262      63.44
1990        41,799      66.86
1991        40,364      69.67
1992        40,518      71.76
1993        39,717      73.92
1994        40,233      75.84
1995        41,230      77.96
1996        42,048      80.30
1997        43,653      82.15
1998        45,684      83.46
1999        47,427      85.30
2000        48,177      88.17
2001        47,029      90.68
2002        45,251      92.11
2003        44,610      94.21
2004        45,836      96.72
2005        46,806    100.00




       7/17/20109:07 PM
                            $50,000                                                                                                                                        100

                            $45,000




                                                                                                                                                                                 Consumer Price Index (base 100 in 2005)
                            $40,000
   Income in 2005 Dollars




                            $35,000

                            $30,000

                            $25,000                                                                                                                                        10

                            $20,000

                            $15,000

                            $10,000
                                                                                                       Average Income                   Price Index
                             $5,000

                                $0                                                                                                                                         1
                                             1918

                                                    1923



                                                                  1933



                                                                                1943

                                                                                       1948



                                                                                                     1958



                                                                                                                   1968

                                                                                                                          1973



                                                                                                                                        1983



                                                                                                                                                      1993

                                                                                                                                                             1998
                                      1913




                                                           1928



                                                                         1938




                                                                                              1953



                                                                                                            1963




                                                                                                                                 1978



                                                                                                                                               1988




                                                                                                                                                                    2003
                              FIGURE A0
Average Real Income and Consumer Price Index in the United States, 1913-2005
Source: Table A0, columns Average income (in real 2005 dollars) and CPI (base 100 in 2005)
                   P99-100 Average
       P0-99 Average
1917        13,036 278,429
1918        12,600 237,920
1919        12,338 232,698
1920        11,190 189,148
1921         9,759 178,646
1922        10,907 212,293
1923        12,320 217,265
1924        11,982 233,622
1925        11,919 254,633
1926        11,984 263,266
1927        11,975 275,068
1928        12,083 294,526
1929        12,782 288,564
1930        11,864 233,130
1931        10,913 196,682
1932         9,156 167,675
1933         8,886 166,388
1934         9,749 183,876
1935        10,586 196,083
1936        11,342 242,878
1937        12,065 237,562
1938        11,327 195,653
1939        11,974 217,851
1940        12,487 233,149
1941        14,720 259,930
1942        17,525 259,677
1943        20,596 267,225
1944        20,576 242,386
1945        20,016 249,187
1946        19,994 266,530
1947        19,479 239,615
1948        19,752 250,879
1949        19,583 240,700
1950        21,038 269,628
1951        21,883 257,225
1952        22,770 246,219
1953        23,952 239,232
1954        23,580 244,379
1955        25,266 255,405
1956        26,605 265,928
1957        26,748 263,958
1958        25,978 251,717
1959        27,537 263,979
1960        28,000 255,320
1961        28,337 257,753
1962        29,364 264,861
1963        30,174 268,235
1964        31,679 276,251
1965        32,934 288,916
1966        34,264 312,911
1967        35,138 323,283
1968        36,315 330,943
1969        37,001 322,514
1970        37,228 315,113
1971        37,127 313,483
1972        38,684 325,174
1973        39,500 331,473
1974        38,171 337,505
1975        36,214 315,155
1976        37,118 317,914
1977        37,483 321,481
1978        38,159 329,681
1979        37,499 327,512
1980        35,667 317,607
1981        35,166 306,878
1982        34,272 313,873
1983        34,208 321,583
1984        35,176 343,077
1985        35,660 356,757
1986        36,092 362,596
1987        36,369 437,885
1988        36,984 560,731
1989        36,932 532,988
1990        36,373 542,623
1991        35,453 491,123
1992        35,057 546,176
1993        34,625 509,218
1994        35,062 517,081
1995        35,653 557,762
1996        36,116 593,174
1997        37,205 644,804
1998        38,697 698,693
1999        39,899 752,817
2000        40,231 794,633
2001        39,800 722,877
2002        38,626 662,468
2003        37,975 663,482
2004        38,466 736,993
2005        38,681 812,497
2006




   7/17/20109:07 PM
                                             $45,000                                                                                                                                   $900,000
    Average Income of P0-99 (2005 dollars)




                                                                                                                                                                                                  Average Income of P99-100 (2005 dollars)
                                             $40,000                                                                                                                                   $800,000
                                                                                   P0-99 Average

                                             $35,000                               P99-100 Average                                                                                     $700,000


                                             $30,000                                                                                                                                   $600,000


                                             $25,000                                                                                                                                   $500,000


                                             $20,000                                                                                                                                   $400,000


                                             $15,000                                                                                                                                   $300,000


                                             $10,000                                                                                                                                   $200,000


                                              $5,000                                                                                                                                   $100,000


                                                 $0                                                                                                                                    $0
                                                       1917

                                                              1922



                                                                            1932

                                                                                     1937

                                                                                            1942

                                                                                                   1947



                                                                                                                 1957

                                                                                                                        1962

                                                                                                                               1967



                                                                                                                                             1977

                                                                                                                                                    1982

                                                                                                                                                           1987



                                                                                                                                                                         1997

                                                                                                                                                                                2002
                                                                     1927




                                                                                                          1952




                                                                                                                                      1972




                                FIGURE A1                                                                                                                         1992
Average Real Income of bottom 99% and top 1% in the United States, 1917-2005
Source: Table A4, columns P0-90, P90-95, P95-99 and P99-100

Important points to keep in mind when interpreting this figure (in particular the fact that average real incomes for
bottom 99% have stagnated from 1973 to 2005):
1) Income is defined as market income (excluding realized capital gains) and excludes all transfers such as Social Security benefits,
unemployment insurance, welfare assistance, etc. The importance of transfers has grown overtime. They represent in 2000 about 15% of personal
income and around 10% in 1973, and only 1-2% before 1930.
Our income definition also excludes non-cash benefits from employers (such as health benefits) and employer payroll taxes.
The ratio of those non wage labor costs to our market income definition has grown from about 1% in 1929 to 12% in 1973 to 20% in 2004.

2) The unit is the tax unit (such as couple and dependents, or a head of household with dependents, or a single person). The number of individuals
per tax unit has declined overtime from 2.5 in the 1973 to 2.1 in 2000 but the number of adults (aged 20+) per tax unit has only declined from 1.6 to 1.5
from 1973 to 2000.
A tax unit is smaller than a household (a household is defined as all individuals living in the same unit such as two roommates, etc.)
In 2000, there were 134.5 million tax units but only 104.7 million households in the United States.
There were 1.22 tax units per household in 1973 and about 1.26 tax units per household in 2000.
Therefore, average household income is about 25% higher than average tax unit income.

3) All nominal incomes are deflated using the official Consumer Price Index (CPI-U). It has been recognized that the CPI-U overstates
inflation and new CPI series (CPI-U-RS) have been created for the period 1967-2002 displaying 15% less inflation (and hence 15% more real
income growth) for the period 1967 to 2002 and about 13% more real growth from 1973 to 2000.

In sum, from 1973 to 2000, the average income of the bottom 99% would have grown by about 50% in real terms instead of stagnating (as displayed on
the figure above) if we had included all transfers (+7% effect), employers' benefits and payroll taxes (+10%) used the CPI-U-RS (+13% effect), and especially defined income per capita (+20% effect).
Under those assumptions, the average income of the top 1% would have grown by a factor 3.6 instead of a mere 2.5 (as in figure above).

The finding that top 1% incomes have done so much better than the bottom 99% since 1973 is therefore largely independent of those assumptions.
                 Capital excludedgains fully
                            Capital
       Capital gains fullygains in shares only included
1913    0.1796 0.1796         0.1796
1914    0.1816 0.1816 0.18158
1915    0.1758 0.1758 0.17578
1916    0.1857 0.1889 0.19311
1917     0.176 0.1772 0.17737
1918    0.1588 0.1599 0.15961
1919    0.1587 0.1615 0.16411
1920    0.1446 0.1468         0.1483
1921    0.1547 0.1562 0.15638
1922    0.1629 0.1665 0.17058
1923    0.1499 0.1528 0.15642
1924    0.1632      0.168 0.17423
1925     0.176 0.1862 0.20245
1926    0.1801      0.187 0.19909
1927    0.1868 0.1949 0.21025
1928     0.196 0.2109         0.2394
1929    0.1842 0.1976 0.22353
1930    0.1642 0.1672 0.17223
1931    0.1527 0.1539 0.15498
1932    0.1548 0.1556 0.15556
1933    0.1577 0.1609         0.1646
1934    0.1587        0.16 0.16397
1935    0.1563 0.1597 0.16676
1936    0.1764 0.1816 0.19288
1937    0.1645 0.1667 0.17149
1938    0.1473 0.1502 0.15755
1939    0.1539 0.1564 0.16175
1940    0.1573 0.1595 0.16478
1941    0.1501 0.1523 0.15786
1942    0.1291 0.1306 0.13429
1943    0.1148 0.1178 0.12309
1944    0.1054 0.1081 0.11281
1945    0.1107 0.1161 0.12516
1946    0.1176 0.1223 0.13277
1947    0.1095 0.1125 0.11955
1948    0.1127 0.1157 0.12243
1949    0.1095 0.1119 0.11727
1950    0.1136 0.1191         0.1282
1951    0.1052 0.1098 0.11787
1952    0.0976 0.1013 0.10791
1953    0.0908 0.0937 0.09902
1954    0.0939 0.0992 0.10774
1955    0.0918 0.0992 0.11058
1956    0.0909 0.0968 0.10672
1957    0.0898 0.0942 0.10161
1958    0.0883 0.0935 0.10206
1959    0.0875 0.0949 0.10647
1960    0.0836 0.0901 0.10035
1961    0.0834 0.0924 0.10641
1962    0.0827 0.0892         0.0995
1963    0.0816 0.0886 0.09917
1964    0.0802      0.091 0.10479
1965    0.0807      0.093 0.10892
1966    0.0837 0.0942 0.10175
1967    0.0843 0.0983 0.10738
1968    0.0835 0.1007 0.11213
1969    0.0802      0.094 0.10351
1970     0.078 0.0844 0.09025
1971    0.0779 0.0865 0.09399
1972    0.0775      0.087 0.09638
1973    0.0774 0.0834 0.09162
1974    0.0812 0.0853 0.09122
1975    0.0801 0.0837 0.08873
1976    0.0789 0.0833 0.08861
1977     0.079 0.0836 0.09025
1978    0.0795 0.0836 0.08951
1979    0.0803        0.09 0.09958
1980    0.0818 0.0915 0.10021
1981    0.0803 0.0893 0.10017
1982    0.0839 0.0976 0.10796
1983    0.0859 0.1028 0.11555
1984    0.0889 0.1063 0.11989
1985    0.0909 0.1109 0.12669
1986    0.0913 0.1314 0.15917
1987    0.1075 0.1175 0.12662
1988    0.1317 0.1465 0.15493
1989    0.1261 0.1381 0.14486
1990    0.1298 0.1381         0.1433
1991    0.1217 0.1272 0.13361
1992    0.1348 0.1422 0.14671
1993    0.1282 0.1368 0.14237
1994    0.1285 0.1365 0.14232
1995    0.1353 0.1462 0.15234
1996    0.1411 0.1584 0.16687
1997    0.1477 0.1699 0.18015
1998    0.1529 0.1769 0.19088
1999    0.1587 0.1837 0.20044
2000    0.1649      0.193 0.21521
2001    0.1537 0.1676         0.1822
2002    0.1464 0.1581 0.16865
2003    0.1487 0.1625 0.17528
2004    0.1608 0.1785 0.19753
2005    0.1736 0.1926 0.21832




             7/17/20109:07 PM
                        25%



                        20%
         share (in %)




                        15%



                        10%


                                            Capital gains fully included
                        5%
                                            Capital gains in shares only

                                            Capital gains fully excluded
                        0%
                                            1923
                                                   1928
                                                          1933




                                                                                      1953
                                                                                             1958
                                                                                                    1963
                                                                                                           1968




                                                                                                                                       1988
                                                                                                                                              1993
                                                                                                                                                     1998
                              1913
                                     1918




                                                                 1938
                                                                        1943
                                                                               1948




                                                                                                                  1973
                                                                                                                         1978
                                                                                                                                1983




                                                                                                                                                            2003
                                        FIGURE A2
              Top 1% Income Shares in the United States, the role of capital gains
Sources: Table A1, A2, and A3, column P99-100.
The series capital gains fully included are based on income including capital gains (both in ranking and for estimating top shares)
The series capital gains in shares only are based on ranking by income excluding capital gains but include capital gains in shares
The series capital gains fully excluded are based on income excluding capital gains (both in ranking and for estimating top shares)

				
DOCUMENT INFO
Description: Federal Tax 2007 W2 Forms document sample