Inequality in major U.S. cities rivals Africa: U.N.And now for some dull but informative statistics:
Thu Oct 23, 2008
UNITED NATIONS (Reuters) – Major U.S. cities including New York, Washington, Atlanta and New Orleans have levels of economic inequality that rival cities in Africa, according to a U.N. report published on Thursday.
GDP:So - who got that 112% increase reflected in GDP growth?
1979: $6052.9Bn (constant 2006 dollars)
2005: $12,857.7Bn (constant 2006 dollars)
% increase: 112%
Median household income:
1979: $42,606 (constant 2006 dollars)
2005: $47,845 (constant 2006 dollars)
% increase: 12%
95%-ile household income:
1979: $121,287 (constant 2006 dollars)
2005: $174,012 (constant 2006 dollars)
% increase: 41%
[numbers above from U.S. Census Bureau]
(I'm unable to find Census Bureau source for 99%-ile, but Wikipedia article Income inequality in the United States, provides the following:)
99%-ile household income:
% increase, 1979-2005: 175%
The top 1% of households!
Yes, Senator McCain - LET us talk about the re-distribution of wealth!
Stop the madness!!!