Widening income gap
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Sun Sep 5 11:32:57 MDT 1999
NY Times, September 5, 1999
Gap Between Rich and Poor Found Substantially Wider
By DAVID CAY JOHNSTON
The gap between rich and poor has grown into an economic chasm so wide that
this year the richest 2.7 million Americans, the top 1 percent, will have
as many after-tax dollars to spend as the bottom 100 million.
That ratio has more than doubled since 1977, when the top 1 percent had as
much as the bottom 49 million, according to new data from the Congressional
In dollars, the richest 2.7 million people and the 100 million at the other
end of the scale will each have about $620 billion to spend, according to
an analysis of the budget office figures.
The analysis was done by the Center on Budget and Policy Priorities, a
nonprofit organization in Washington that advocates Federal tax and
spending policies that it says would benefit the poor. . .
Full Times article:
Center on Budget and Policy Priorities: http://www.cbpp.org/
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