Thursday, April 17, 2008

Gap Between the Rich and Poor Expands

  • Families in the top 1/5 of the U.S. income distribution have seen their incomes increase 9.1% since the late 1990s
  • Average incomes of the top 5% of families are 12x higher than average incomes of families in the bottom 20%

  • Average incomes for the bottom 1/5 of the U.S. income distribution have declined 2.5%
  • Incomes in the middle class have only grown 1.3% since the 1990s

  • Since the late 1980s, income gaps have widened in 37 states and have not narrowed in any states - the trend towards inequality among rich and poor is expanding

Source: Center on Budget and Policy Priorities and Economic Policy Institute, 2008; Reuters, April 10, 2008

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