Mind the gap: Income inequality, state by state (the rich get richer)

[Blue Diadem]

New report looks at where the growth in incomes of high-income families has outpaced that of middle- and low-income households.
By Jeanne Sahadi, CNNMoney.com senior writer
January 26, 2006: 2:03 PM EST



NEW YORK (CNNMoney.com) – You don't need to be a statistician to realize that economic growth in the past 20 years hasn't lifted everyone's boat equally.

The good news is that incomes across the board are up. But so is the income gap. That is, incomes for high-income families have risen faster than for everyone else.

snip:
When the authors looked at the incomes of the top 5 percent of households in 11 large states, they found sharp disparities. The top 5 percent of families saw their incomes rise as much as 132 percent between 1980 and 2003. The bottom 20 percent of families, meanwhile, saw their incomes rise by no more than 24 percent.

In dollars and cents, average incomes of those in the top 5 percent rose between $80,400 to over $153,000. Increases for the bottom 20 percent in those 11 states, meanwhile, didn't exceed $4,000.

more here along with the the state by state income table: http://money.cnn.com/2006/01/25/news/economy/income_gap/index.htm?cnn=yes

[Roland99]

1. Goes right in line with my thread on the truth behind the GDP

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x243843


Don't cry for me Argentina!

[Blue Diadem]

4. This is some scarey stuff

I'm printing out your graph and link to add to this article. Maybe a few few visuals will help a couple people I know who think the economy is so wonderful.

[Roland99]

7. Have at it! And we should pass it to our elected leaders, too.

And candidates for office. We need everyone to be aware of the dangers we're facing.

Also, another great article about the ramifications of not doing anything:

Almost Unnoticed, Bipartisan Budget Anxiety
http://www.washingtonpost.com/wp-dyn/content/article/2005/05/17/AR2005051701238.html

[Sandpiper]

2. A rising tide lifts all yachts

And the GOP rejoices.

[liberal N proud]

3. And who has had control of the government for most of that time?

[Blue Diadem]

5. My thoughts exactly..and how much worse is it going to get? n/t

[Blue_In_AK]

6. Alaska must be doing something right.

"In only one state – Alaska – did income growth for low-income families outpace that of high-income households." Maybe our permanent fund helps - an equal annual pay-out to ALL Alaskans, no matter where they fall on the income scale.