Wealth Inequality is Vast and Growing
From Economic Policy Institute:
Inequality in the United States is on the rise, whether measured in terms of wages, family incomes, or wealth and is much higher than that of other advanced countries.
This week's Snapshot looks at the rising inequality of wealth and is a preview of the advance edition of The State of Working America 2006/2007, to be released on Labor Day weekend.
The richest 1% of wealth holders had 125 times the wealth of the typical household in 1962; by 2004 they had 190 times as much or $14.8 million in wealth for the upper 1% compared to just $82,000 for the household in the middle fifth of wealth.
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