Wednesday, February 23, 2011
Charts reveal shocking income inequality
"Some new data crunches show how the gap between rich and poor has widened into a chasm."
In the February 23, 2011 Yahoo! article, "Separate but unequal: Charts show growing rich-poor gap," Zachary Roth summarizes the Mother Jones article," It's the Inequality, Stupid" that appears in its March/April 2011 issue:
The Great Recession and the slump that followed have triggered a jobs crisis that's been making headlines since before President Obama was in office, and that will likely be with us for years. But the American economy is also plagued by a less-noted, but just as serious, problem: Simply put, over the last 30 years, the gap between rich and poor has widened into a chasm.
Gradual developments like this don't typically lend themselves to news coverage. But Mother Jones magazine has crunched the data on inequality, and put together a group of stunning new charts. Taken together, they offer a dramatic visual illustration of who's doing well and who's doing badly in modern America.
Here are three samples:
â€¢Â This chart shows that the poorest 90 percent of Americans make an average of $31,244 a year, while the top 1 percent make over $1.1 million:
• According to this chart, most income groups have barely grown richer since 1979. But the top 1 percent has seen its income nearly quadruple:
• And this chart suggests most Americans have little idea of just how unequal income distribution is. And that they'd like things to be divvied up a lot more equitably:
To see the rest of these fascinating charts, click on over to Mother Jones.