A new report by the Economic Policy Institute (EPI) provides further evidence that the serious problem of growing income inequality in the United States has worsened in recent years.
According to the report, income in the nation grew 36.9 percent between 1979 and 2007, but 53.9 percent of that growth was shared among the top 1 percent. By 2011, the top 1 percent shared an even greater 86.3 percent of income growth.
As a result, the average income of the top 1 percent is 24.4 times greater than the average income of the bottom 99 percent.
And if the years after the Great Recession should have signaled recovery for all classes of Americans, the reality is disappointingly grim and unbalanced: The EPI report finds that while the nation’s wealthiest 1 percent continues recovering, the “bottom 99 percent’s income has actually gone down.”
The widening inequality between the nation’s wealthiest citizens and the rest of the county is especially prevalent in some particular states.
Here are five states that are home to the greatest wealth disparity among their citizens.
Photo: brad_crooks via Flickr