Rising tide, falling boats
DESPITE the boom, America's richest and poorest are growing farther apart. Whereas in real terms the income of the richest fifth of families with children has grown by 16% since the mid-1980s, that of the poorest fifth has fallen by 3%. Take the comparison, in a new study from the Centre on Budget and Policy Priorities, back to the late 1970s and the gap is wider still: the income of the richest has grown by 30% and that of the poorest has fallen by 21% (see chart).
This article appeared in the United States section of the print edition under the headline “Rising tide, falling boats”
From the December 20th 1997 edition
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