The Rich Get Richer, the Poor Get....Richer
Austrian economist Steve Horwitz
has been going over census reports from 2006 on average household income. It turns out that the percentage of American households earning $100,000 or more annually more than doubled between 1980 and 2006. The percentage of those making between $75,000 and $99,999 also increased somewhat, while the percentages in every category making less decreased. And before anyone asks, the answer is yes, these are constant 2006 dollars.
3:24 PM / August 22, 2009