Tuesday, September 28, 2010

The Gap Between Rich and Poor is at its WIDEST

From Census: Gap Between Rich and Poor is at its Widest:


The income gap between rich and poor Americans grew to the widest amount on record and represents the greatest disparity among Western industrialized nations, according to U.S. Census data.

The census finds that the top-earning 20% of Americans (those making $100,000 each year) received 49.4% of all income generated in the U.S., compared with the 3.4% earned by those below the poverty line.

That ratio of 14.5-to-1 was an increase from 13.6 in 2008 and nearly double a low of 7.69 in 1968, the Associated Press reports.

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A clear goal would be to get back to 7-to-1!

If we've done it before we can do it again. It is disappointing for the US to have the greatest disparity among industrialized countries. We should expect better.

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