Friday, September 27

MIND THE GAP: Income inequality is getting worse.

The most affluent fifth of the population received half of all household income last year, up from 45 percent in 1985. The poorest fifth received 3.5 percent of total household income, down from 4 percent in 1985. Average income for the top 5 percent of households rose by $1,000 last year, to $260,464, but the average declined or stayed about the same for most other income brackets.

Robert Greenstein, executive director of the Center on Budget and Policy Priorities, a liberal research institute, said, "The census data show that income inequality either set a record in 2001 or tied for the highest level on record."
(NYT: user name: opensewer; password: iswatching.)

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