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Income Inequality Research Paper

300 Words2 Pages

“The rich are getting richer and the poor are getting poorer”, the first portion of that statement is true. White the latter is not. While some will argue that it is true with the US economy, empirical evidence contradicts this. First of all, most data that is collected in improperly and confusingly measured. Such as the data for the quintiles collected by the US Census Bureau, which divides the data by household, regardless of household size. This format is quite misleading. In addition, the information does not reflect the large baby boomer population now relying on retirement and social security income, which inflates certain quintiles. Most importantly, even if the income inequality is or does increase between the quintiles, the economic

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