Aielyn said:
Kasz216 said:
Uh Richard... did you happen to read your own article all the way through?
"The data does provide the latest indication, however, that the recession reduced income inequality in the United States, at least temporarily. The average income of the wealthiest families fell much more sharply than the median, indicating that some of those at the very top of the ladder slipped down at least a few rungs."
The earnings of the median family in the bottom 20 percent of the income distribution actually increased from 2007 to 2010, in part because of the expansion of government aid programs during the recession.
So what you mean to ask is it ok that the Rich are getting poorer, Middle class are getting poorer but the poor are getting richer.
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Income, not wealth (AKA net worth). There's a massive difference.
Remember, the wealthiest families usually make the lion's share of their money through low-taxed investments, rather than through direct income. This option is not available at all to the poor, and not easily to the middle class.
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If you'll note, they counted investments as income. The fed always does. The fact that they do have investments it states as why they weren't hit as hard as the middle class income wise.
Also, they specifically state the wealthy lost wealth (net worth). Though not as much as the middle class.
It's all in the article there... or just the fed report if you want to look at that.
