Growth and fluctuations of personal and companyʹs income

We report several recent findings on income distribution. Using high-frequency data for personal income-tax in Japan, we have found that the probability distribution function of the growth-rate is independent from the income. We show that this Universality combined with the time-reversal invariance of the income distribution leads to the Paretoʹs law. We also find the same Universality holds for companyʹs taxable income in Japan.