The income gap between rich and poor in the United States has increased significantly, The New York Times online edition reported Thursday. According to the report, new analyses of 2005 tax data shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans.
Per person, the top group received 440 times as much as the average person in the bottom half earned, nearly doubling the gap from 1980....
While total reported income in the US increased almost 9 per cent in 2005, the most recent year for which such data is available, average incomes for those in the bottom 90 per cent dipped slightly compared with the year before, dropping 172 dollars, or 0.6 percent.
According to the report, the gains went largely to the top 1 percent, whose incomes rose to an average of more than 1.1 million dollars each, an increase of more than 139,000 dollars, or about 14 percent.
The top 10 percent, roughly those earning more than 100,000 dollars, also reached a level of income share not seen since 1928, according to the report.
Friday, March 30, 2007
"was there a spread on this in 'republican vogue'?"
the top ten % of u.s. income earners have reached a level of income not seen since 1928? oh, so we have nothing to worry about. it's not like there were any huge financial disasters anytime soon after 1928...
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