Thursday, September 13, 2012
Inequality In US Rises During Recovery
The top 5% saw an increase in their incomes in 2011, while middle class income fell and income in the bottom of the distribution continued to stagnate. Median household income fell to around $50,000. That is 7% below what it was in 2007. Of course, there is no problem of income inequality in the US, and the middle class is doing fine. The real inequality problem, according conservatives, is the gap between the middle class and the bottom tier. That can be fixed by improving the education system and by changing the culture of those in the bottom tier. They will be fine if they were willing and able to work harder.