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

The Associated Press

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

By Tami Luhby @CNNMoney September 11, 2012: 5:30 AM ET

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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.

Are you better off?

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

By Peter Robison - Oct 2, 2012 8:53 AM ET Bloomberg

 

The income gap between rural households in China under a commonly used gauge known as the Gini coefficient reached 0.3949 last year, nearing a “danger level” of 0.40 set by the United Nations for potential social unrest.  The figure was 0.47 in the U.S. last year.

America’s Growing Income Gap Shows Two Recoveries in Action