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Friday, December 24, 2010

Income inequality still growing

Income inequality is still growing.

From the article:

"The richest 1% of U.S. households had a net worth 225 times greater than that of the average American household in 2009, according to analysis conducted by the Economic Policy Institute, a liberal think tank. That's up from the previous record of 190 times greater, which was set in 2004."

With the recent tax cut extension, you can expect income inequality to grow even more. Since the rich pay more taxes and thus will get more taxes back, their income will grow more than that of the middle class and poor.

The net effect of this reality? More violent crime and murder, according to analyses by criminologists. Studies show that nations with higher levels of income inequality are related to higher rates of violent crime and murder.

Look at the bright side, though. If you have more money when you are murdered (assuming you are not robbed of it all), at least you can afford a nice funeral.

http://money.cnn.com/2010/12/23/pf/rich_wealth_gap/index.htm?hpt=T2

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