Gap Between Haves-Have nots grows

MSNBC just posted this story from AP

Whole story here with graph

WASHINGTON - Over two decades, the income gap has steadily increased between the richest Americans, who own homes and stocks and got big tax breaks, and those at the middle and bottom of the pay scale, whose paychecks buy less.

The growing disparity is even more pronounced in this recovering economy. Wages are stagnant and the middle class is shouldering a larger tax burden. Prices for health care, housing, tuition, gas and food have soared.

The wealthiest 20 percent of households in 1973 accounted for 44 percent of total U.S. income, according to the Census Bureau. Their share jumped to 50 percent in 2002, while everyone else's fell. For the bottom fifth, the share dropped from 4.2 percent to 3.5 percent.

Thanks GW

•  I guess that's capitalism

  A little spreading of the wealth would maximize the contendness of more people.  It just doesn't make sense that a President's policies could have such an effect and expect to get re-elected.  

  by mishimishi on Mon Aug 16, 2004 at 07:57:42 PM PDT

  •  You forget...

    ...in general, the poor don't vote, nor do they have the funds to buy influence in campaigns and government.  Bush's mistake is that he has unleased policies that are hitting hard the upper end of the middle class, those just below the top 20%.  Clouds of chickens coming home to roost can be seen on the horizon.

    by scorponic on Mon Aug 16, 2004 at 08:02:51 PM PDT