Thursday, August 31, 2006

Income Gap Grows Between Rich and Poor

Source: U.S. Census Bureau's Current Population Survey, Annual Social and Economic Supplements

The Census Bureau recently released their yearly snapshot of how Americans are doing. Shown above, the income gap has widened since the late 1970s. According to the Census Bureau, the share of income controlled by the top 5 percent of households increased from 16.6% to 21.7%, while the share to the highest twenty percent increased from 43% to 49.4%. If you want to read more, the full report is Income, Poverty, and Health Insurance Coverage in the United States: 2005.

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