Friday, December 21, 2012

The growth of income inequality

The Atlantic:

Jordan Weissmann, The Atlantic: This graph, from the Pew Research Center, tracks the annual rate of income growth for Americans across the economic spectrum for each of the past six decades. I have yet to find a more evocative illustration of how profoundly the rewards of our economy have tilted away from the middle class and towards the wealthy. Here, we don't just see who's claiming the biggest slice of the pie, but rather whose standard of living is actually improving (or deteriorating). You can argue about why we've arrived at this point, but that doesn't change the starkness of this picture.

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