In the latest published data from the BLS it shows that the lowest 20% of earners saw their incomes before taxes jump 7.6%, to $10,174, in the 12 months ending June 2013. Ok..this seems strange, lets read on. It also states that the highest 20% earners meanwhile saw their incomes slip 1.4%, to $164,647. So, if I read this data correctly it means that what president Obama has been saying is happening is actually not happening? Poor people are starting to do better while those that are the "haves" are making less? This brings to mind two questions: (1) Is the economy doing better than we think it is? and (2) is this Income Inequality thing just politispeak for "vote for me".
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I guess we need to take a long hard look at what these numbers mean.
OK...I am done looking....I think they mean that those who have less money are starting to make more and those who have more are beginning to make less. If I had a Ph. D. I could have made that a lot more confusing...but I digress :)