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Income Inequality Grew Across The Country Over The Past Two Decades

Reagonomics was all the rage in the 80 and 90s. Remember the Republican Contract with America in 1994 which got the Republicans elected in larger than ever numbers. Remember "trickle down economics" where tax cuts to the rich where supposed to bring about investment, and more money being spent and pumped into the economy, yadda, yadda, yadda. Does this theory work? NO.

The Center for Budget and Policy Priorities have found that not only have the rich gotten richer and the poor gotten poorer, but the inequality is growing.

In most states, the gap between the highest-income families and poor and middle-income families grew significantly between the early 1980s and the early 2000s, according to a new study by the Center on Budget and Policy Priorities and the Economic Policy Institute. The study is one of the few to examine income inequality at the state as well as national level.

My State, New York, is the worse state in the union with income inequality. For more click on the link below.

Link: Income Inequality Grew Across The Country Over The Past Two Decades: Early Signs Suggest Inequality Now Growing Again After Brief Interruption, 1/26/06.


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