Wednesday, April 9, 2008

What a surprise! Income gap widens

  • Hey, middle class! Your income has been virtually stagnant for the last eight years-- just 1.3% growth.
  • Hey, the bottom fifth! Since the late 1990's, your income has gone down 2.5%.
  • Hey, you top 5%! Your incomes are now 12 times the average income of the bottom fifth.
The Center on Budget and Policy Priorities and Economic Policy Institute released a report today that puts numbers to what we already know: the rich are getting richer and everybody else is struggling. You can read more about it at Reuters.

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