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Home > Blog > Inequality In American Income
Inequality In American Income back to articles
Posted: Dec. 31st, 1969
Income Inequality

"It's a well-established fact that the rich are getting richer, while the poor and middle class are falling behind.

"The 400 richest people in the United States have more wealth than the bottom 150 million put together," said Berkeley Professor and former Labor Secretary Robert Reich on a recent CNNMoney panel on inequality.

Meanwhile, the median wage earner in America took home 9% less last year than in 1999.

But the rising income gap is manifesting itself in American society in other ways too.

Social scientists have long said income inequality is bad for society. Yet popular measures of social stability -- crime rates, voter non-participation -- have been going down over the last couple of decades."

With movements like The 99% it is not a new idea that there is most certainly a huge gap between the average and the wealthy. Many would say that there is no gap, but a few economists today are blaming the slow economy on the income gap. A strong middle class is what drives the American economy as they spend most of their income while the rich are more likely to save and invest.

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