Tag: Income inequality in Delaware
Guess Who Pocketed ALL Of Delaware’s Income Growth During the Recovery?
Inexplicably buried at the bottom of page A-3 of the News-Journal’s dead tree edition is one of the most important stories of the year. This Jonathan Starkey story tells us the following:
Delaware’s wealthiest residents hoarded all of the income gains as the state recovered from the recession, according to a study from the Economic Policy Institute that provided yet more evidence of an imbalanced economic recovery.
From 2009 to 2012, the top 1 percent of Delaware earners saw income growth of 15 percent.
The bottom 99 percent? Their incomes fell 1.6 percent. The study was based on Internal Revenue Service data of adjusted gross income.
Got that? Yet Jack Markell opposes a decent living wage and opposes restoring progressivity to the tax code. The policies he put into effect during the so-called ‘recovery’ led to more, not less, inequity in income growth. Actually, you can’t call it income growth for the 99% who saw their income shrink by 1.6%. This is obscene.
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