On October 13, 2012, The Economist published a Special Report: The World Economy/The United States stated:
Between 1979 and 2007 (just before the financial crisis) the real disposable income after taxes and transfers of the top 1% of Americans more than quadrupled, a cumulative rise of over 300%. Over the same period the bottom fifth’s income rose by only 40%. The middle class shrank, both as a share of the population and geographically. Only 40% of American neighbourhoods now have an average income within 20% of the national median, compared with 60% in the 1970s.
