Rich are getting richer, but the poor are also getting there

Excellent post by Prof. Perry on his blog. Discusses the result from a recent study which shows that contrary to popular belief, when the rich are getting richer, the poor are also benefiting.

All in all a great post. Numbers re summarized by the following table:
Income distribution for the quintiles
The reason can be summarized as:
“By leaving out additional sources of income – like fringe benefits or employer-provided health insurance – past studies have dramatically understated American households’ access to after-tax resources.” said Dr. Burkhauser. “What we found is that the rich did get richer over the last 30 years, but so did the middle class, the working class and the poorest.”

0 Response to "Rich are getting richer, but the poor are also getting there"

Post a Comment

Please share your thoughts with us.

powered by Blogger | WordPress by Newwpthemes | Converted by BloggerTheme