Rich Get Poorer

http://www.futureofcapitalism.com/2011/12/rich-get-poorer

So much for rising income inequality. Jason DeParle reports in the New York Times:

The share of income received by the top 1 percent — that potent symbol of inequality — dropped to 17 percent in 2009 from 23 percent in 2007, according to federal tax data. Within the group, average income fell to $957,000 in 2009 from $1.4 million in 2007.

Someone should tell President Obama about this.

by Editor  |  Dec 12, 2011 at 10:14 pm Related Topics:  Income Inequality receive the latest by email: subscribe to the free futureofcapitalism.com mailing list