Study: Income gap between the rich and poor is the widest ever
September 30th, 2010 - 12:27 am ICT by Aishwarya BhattSep 29 (THAINDIAN NEWS) According to the latest census the income gap between the richest and poorest Americans has grown immensely.
According to reports, recession has badly affected the Americans. Even though the recession phase ended in early 2009, but the census data that was released recently states a different tale. It basically revealed that because of the recession, there is a wide unbridged gap between the rich and the poor.
The census report covers all of last year’s data stating unemployment ration was increased to 10% in last year and 9.6% this year. The figures also covered the working average American.
Mark Mather, vice president of the Population Reference Bureau said that millions of people were jobless and were found sitting ideal at home. The jobs were less in the market and this has affected many states and most hit are the children across US.
“Income inequality is rising, and if we took into account tax data, it would be even more. More than other countries, we have a very unequal income distribution where compensation goes to the top in a winner-takes-all economy,” according to Timothy Smeeding, who is a University of Wisconsin-Madison professor who specializes in poverty.
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Tags: census data, census report, economy, gap, income distribution, income gap, income inequality, jobs, mather, population reference bureau, poverty, recession, timothy smeeding, unemployment, university of wisconsin, university of wisconsin madison, vice president