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The 1 Percent Has Nearly Tripled Its Share of America's Income

An alarming new Congressional Budget Office study adds fuel to Occupy Wall Street's raging fire.

For more than a month now, Occupy Wall Street supporters have been camping in lower Manhattan to voice their dissatisfaction with, among other things, America's mind-boggling income inequality. Though they've faced criticism from naysayers all along the way, it turns out that the protesters' grievances aren't just figments of their collective imagination after all: In the past three decades, the richest 1 percent of Americans have seen their share of the U.S. income grow by 275 percent since 1979, according to a new study from the nonpartisan Congressional Budget Office. In comparison, the poorest 20 percent had only an 18 percent increase. Never again should anyone ever ask, "What is Occupy Wall Street so angry about?"

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