October 26, 2011

SHOULDN'T THAT HEADLINE READ...:

The rich are getting richer, U.S. study says (Jim Puzzanghera, 10/27/11, Los Angeles Times)

The rich got richer over the last three decades -- and the very rich got very much richer -- according to a new government study.

The top 1% of households saw their after-tax incomes grow by 275% from 1979 to 2007, said the study by the nonpartisan Congressional Budget Office. That was more than quadruple the growth of the rest of the top 20% of the population during that period.

Meanwhile, income for the 60% of households that make up the middle of the income scale increased by slightly less than 40%, the study found. The poor -- the 20% of the population with the lowest incomes -- saw just an 18% increase. [...]

Overall, inflation-adjusted, after-tax income for the entire population rose 62% from 1979 to 2007.


..."We're all getting richer"?

Posted by at October 26, 2011 8:58 PM
  

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