Thursday, January 26, 2006

The Rich get richer...

A new study shows that no other state has a wider income gap than Texas. Texas leads U.S. in income gap between wealthy, middle-class
"Texas has arguably the most extreme separation between the well off and everyday people in the United States," said Don Baylor, a policy analyst at the Center for Public Policy Priorities, an Austin think tank that advocates for lower-income families.

"In many states, the income gap is like a gully," he added. "In Texas the income gap is like a deep canyon."

From 2001 to 2003, the average income of the top 20 percent of Texas families — $118,971 — was nearly three times the average income of the middle 20 percent, which made $41,015, the study shows.

The average income of Texas' richest families was more than eight times greater than the $14,724 average of poorest one-fifth.

Ah, the Texas miracle.

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