commondreams | Over the last three decades the wealth of the nation's very richest
1% has grown ten times that of the average worker and over that time
period that same tiny elite has captured more than half of the entire
income increases, leaving the bottom 99% to divide the remaining gains.
This is all based on a new state-level study, The Increasingly Unequal States of America: Income Inequality by State,
which looks at how inequality has seized hold of the national economy
both in the generation leading up to the great recession of 2008 and in
the several years following where a so-called "recovery" was experienced
by the financial elite while the majority of U.S. population continues
to claw its way back.
“The levels of inequality we are seeing across the country provide
more proof that the economy is not working for the vast majority of
Americans and has not for decades,” said Mark Price, an economist at the
Keystone Research Center, who co-authored the report on behalf of the
Economic Analysis and Research Network (EARN). “It is unconscionable
that most of America’s families have shared in so little of the
country’s prosperity over the last several decades.”
Check out the interactive state-by-state map on inequality generated by the study's authors.
Numerous studies in recent years have exposed the persistent pattern
of income and wealth inequality in the United States, but as Price's
co-author Estelle Sommeiller explains, “our study shows that this one
percent economy is not just a national story but is evident in every
state, and every region.”
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