Income growth and inequality

i am an avid surveyor of economic news and data. hence, i am always watching wage and income announcements. i have found it interesting that recent info coming out of the economic waters has shown that income/wages are rising despite some inflation worries over food and energy (read an optimistic article here).

What I find more interesting is this tidbit from tax data reported by the NY Times. sure, wages may be rising as a whole, but when one looks at the data more closely you see some real disparities. for instance, wages may be rising overall but not for the bottom income brackets.

this is representative of an often occurring problem with news reporting. just reporting the statistics itself often masks the actual results. in this case wages seem to be rising and everyone’s life is going grrr-eat, but in reality the only people getting benefit from rising incomes are the already might rich.

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