Widening Income Inequality in the US

When the Wall Street Journal picks up the story on income inequality, you know the situation maybe getting out of hand. Here verbatim is  some of the WSJ coverage – go here for the complete story:
“The wealthiest 1% of Americans earned 21.2% of all income in 2005, according to new data from the Internal Revenue Service. That is up sharply from 19% in 2004, and surpasses the previous high of 20.8% set in 2000, at the peak of the previous bull market in stocks. The bottom 50% earned 12.8% of all income, down from 13.4% in 2004 and a bit less than their 13% share in 2000.”

I think this is a FYI/Risk Alert to the WSJ’s  readership – which of course are quite likely to be in that top 1%.  Another factor – the Economist has been again trumping WSJ by tracking this issue with regularity for the past 2-3 years. A little WSJ catch up.

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