Thursday, July 19, 2007

"Two Americas," And They're Both Getting Richer

"The U.S. is a rich nation getting richer. According to Census figures, the average inflation-adjusted income in the top quintile of American earners increased 22% between 1993 and 2003. Incomes in the middle quintile rose 17% on average, while the incomes in the bottom quintile increased 13%." (See chart above, click to enlarge).

In other words, the "rich" are getting rich faster than the "poor" are getting richer. So what?

Read more here it today's WSJ article by Syracuse Professor Arthur Brooks.

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