Income Gap Between Rich, Poor the Widest Ever - CBS News

[JohnWxy]

http://www.cbsnews.com/stories/2010/09/28/national/main6907321.shtml?tag=stack

Census Bureau Finds Record Income Equality; Richest 20% of Americans Earn Nearly Half of All Nation's Income

(AP) The income gap between the richest and poorest Americans grew last year to its widest amount on record as young adults and children in particular struggled to stay afloat in the recession.

The top-earning 20 percent of Americans - those making more than $100,000 each year - received 49.4 percent of all income generated in the U.S., compared with the 3.4 percent earned by those below the poverty line, according to newly released census figures. 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.

A different measure, the international Gini index, found U.S. income inequality at its highest level since the Census Bureau began tracking household income in 1967. The U.S. also has the greatest disparity among Western industrialized nations.

At the top, the wealthiest 5 percent of Americans, who earn more than $180,000, added slightly to their annual incomes last year, census data show. Families at the $50,000 median level slipped lower.

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[kestrel91316]

1. The rich better be wary. Income disparity can lead to

an increased demand for guillotines.

[JohnWxy]

2. it also consigns our economy to slower growth and slower job creation.

In the end the wealthy would be better off if there wasn't so much of a disparity. With less income disparity more people have more money to spend and sales and economic growth are stronger. Then if they are invested in the right companies and industries they will become much more wealthy. But they will never get that.

[jtown1123]

5. Here Here!

[DirkGently]

3. This speaks to the heart of the problem.

[harun]

4. They are blaming it on The Great Recession, real problem is GOP policies.

[Stuart G]

6. Very Very Sad...nt