Wednesday, November 21, 2012

Skyrocketing Income Inequality in America Over the Past 30 years

American income inequality has skyrocketed over the past 30 years, according to a new report from the Center on Budget and Policy Priorities and the Economic Policy Institute.

From the report: "In the United States as a whole, the poorest fifth of households had an average income of $20,510, while the top fifth had an average income of $164,490 — eight times as much, this top-to-bottom ratio exceeded 8.0. In the late 1970s, in contrast, no state had a top-to-bottom ratio exceeding 8.0."

The United States currently has more income inequality than Pakistan or the Ivory Coast, according to a study by ThinkProgress using data from the CIA factbook. Income inequality in the United States is actually higher than at any other time in modern history since the Great Depression, according a Huffington Post article.

What circumstances created these disparate conditions? Read more: Deseret News

No comments:

Post a Comment

We welcome your comments! However, we do not post comments with "links" or those comments directing to your website. These will not be published. Thank you