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Monday, October 15, 2012

If you can't afford 1 million dollar shoes, chances are you're getting poorer by the day

U.S. wealth gap widening, poll finds

Posted: Aug 27, 2012 3:45 PM ET

Widening economic divide

The results reinforce a tide of recent economic data showing a widening economic divide. America's middle class has been shrinking in the stagnant economy and poverty is now approaching 1960s highs, while wealth concentrates at the top. A separate Pew survey earlier this year found that tensions between the rich and poor were increasing and at their most intense level in nearly a quarter-century.


The wealthy are 288 times richer than you

@CNNMoney September 11, 2012: 5:30 AM ET
Wealthiest Americans have 288 times net worth of typical family
NEW YORK (CNNMoney) -- The wealth gap between the richest Americans and the typical family more than doubled over the past 50 years.
In 1962, the top 1% had 125 times the net worth of the median household. That shot up to 288 times by 2010, according to a new report by the left-leaning Economic Policy Institute.

That trend is happening for two reasons: Not only are the rich getting richer, but the middle class is also getting poorer.

Income Growth as Rich-Poor Gap Widened

America’s Growing Income Gap Shows Two Recoveries in Action


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