Income Gap Up Over Two Decades, Data Show

[joefree1]

Income Gap Up Over Two Decades, Data Show

By LEIGH STROPE, AP Labor Writer

WASHINGTON - Over two decades, the income gap has steadily increased between the richest Americans, who own homes and stocks and got big tax breaks, and those at the middle and bottom of the pay scale, whose paychecks buy less.

The growing disparity is even more pronounced in this recovering economy. Wages are stagnant and the middle class is shouldering a larger tax burden. Prices for health care, housing, tuition, gas and food have soared.

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Jobs and the economy top the list of voter concerns this election year. President Bush touts a strong economy that is growing, but polls find that Americans have doubts and think jobs are scarce. John Kerry is trusted more on the economy, with Democrats talking regularly of "two Americas," divided between the rich and everyone else.

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"For those working in the bottom half of the pay scale, they're under an enormous amount of pressure," said Mark Zandi, chief economist at Economy.com.

New government data also shows that President Bush's tax cuts have shifted the overall tax burden to the middle class from the wealthiest Americans.
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http://story.news.yahoo.com/news?tmpl=story&cid=514&e=12&u=/ap/20040817/ap_on_re_us/income_gap

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[jay-3d]

1. I'm poor

And I'm going to stay poor. I love this country. My girl friend is from Peru. She thinks everyone is rich in America. So when she got here and only makes 8 dollars/hour, she turns to me to buy everything so she can hyper fit in to American materialism. now shes dating a boring rich republican that buys her everything she wants, but she is finding out she doesn't like him and misses poor old me.