This Is Bad News?

That’s a graph I created from the numbers that accompany this Washington Post article – As Income Gap Widens, Uncertainty Spreads.

The first thing you might notice is that the alleged “income gap” doesn’t look like it exists. The numbers show that in 2003 59.1% of households make $35,000 or more versus 47.2% in 1967 (in inflation adjusted dollars). Now if there was in increase in the percentage of the first two strata there may be an arguement for an increased gap, but notice that those two demographics are shrinking. The middle demographic ($35K to $50K) is shirnking, but taking a macro view you would have to say that the shrinkage in that group is because more of those households are now in higher two strata ($50K+).

Anyway you slice it you’d have to work pretty hard to find the negatives in those numbers. Not to fear, the Washington Post is on the case. See how they make these numbers look ominous.

CBS News - Still clueless.
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