The income gap between the poorest and richest fifths of Americans has widened to its greatest level in recent history, according to a report from the US Census Bureau.
The bottom 20% of families have seen their incomes decline by 2.5% since the late 90s, while income growth for the middle fifth stagnated at 1.3%. The wealthiest American families, however, saw their income grow by 9% in the same period.
The Census Bureau measures income adjusted for inflation adjusted for taxes, government subsidies, and capital gains. The average income of the bottom fifth of families was $18,116; the middle fifth, $50,434; and the wealthiest fifth, $132,131.
Get ready for new wealth-distribution legislation when the next Administration takes control.
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