Income Gap in America Grows
America's wealthiest citizens got wealthier last year while much of the rest of the nation saw a drop in income, according to 2011 figures released this week by the U.S. Census Bureau.
"The top end took a whack in the recession, but they've gotten back on their feet," Harvard economics professor Lawrence Katz told the New York Times. "Everyone else is still down for the count."
The result is a growing income gap between rich and poor Americans, a trend that began more than three decades ago. The median household income dropped last year to $50,054.
Those at the very top of the income bracket - the top five percent of American households who earn above $186,000 annually - saw a jump of almost 5% in revenue, and the top 20% of households increased their income by 1.6% last year.
The figures show women who work full time earn 77% of what men earn, unchanged from 2010.
But the vast majority of Americans, those in the middle who earn $38,500 to $101,600, lost up to 1.9% of their annual income from 2010. Statistically, the poorest Americans saw no change.
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