Income Gap Between Richest and Poorest Widens to New Record

September 28, 2010
Headlines

Newly released Census data shows the income gap between the richest and poorest Americans grew last year to its widest amount on record. The top earning 20 percent of Americans received more than 49 percent of all income generated in the country in 2009. The income gap has nearly doubled since 1968. The US has the greatest income disparity among Western industrialized nations. Despite the growing income gap, Senate Democrats last week put off a vote on whether to repeal President Bush’s tax cuts for the wealthy until after the midterm election. A recent Associated Press poll found that 54 percent of Americans support raising taxes on the highest US earners.