The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: Jim McMannis who wrote (8379)	2/23/2011 6:48:52 PM
From: bentway	2 Recommendations Read Replies (1) of 119362

"The gap between the rich and the poor widening during times like this is a given." It didn't just happen Jim. It's been growing in America since the Reagan administration. academic.udayton.edu "From 1977 to 1999, the after-tax income of the richest 20 percent of American families increased by 43 percent, while that of the poorest 20 percent decreased 9 percent, allowing for inflation. The actual income of those living on the lowest salaries was even less than 30 years ago. An article in the February 21, 2000 issue of US News and World Report pointed out that the average income of the richest 5 percent of families in 1979 was 10 times of that of the poorest 20 percent of families. In 1999, the income gap had been enlarged to 19 times, ranking first among the developed countries, and setting a record since the Bureau of Census of the United States began studying the situation in 1947. The income of the executives of the largest US companies in 1992 was 100 times that of ordinary workers, and 475 times higher in 2000. According to an assessment by the US journal Business Week in August 2000, the income of chief executive officers was 84 times that of employees in 1990, 140 times in 1995, and 416 times in 1999. A survey shows that the real income of the one-fifth richest of the families in Silicon Valley has increased 29 percent since 1992, while the real income of the one-fifth poorest of the families in the valley decreased during most of the 1990s, and the current income for the poorest has bounced back to the same level in 1992, with the employees at the lowest rank now earning 10 percent less than a decade age."

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