The Equity Factor

Majority of Americans Still Dealing with Stagnant Income Levels

The 2012 poverty report from the Census Bureau shows just how little income has risen for the middle class.

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The Census Bureau released its 2012 poverty report this morning and virtually everything remains unchanged.

About 46.5 million Americans live below the poverty line, accounting for 15 percent of the country. That’s roughly one in seven people, which is not statistically different from where things stood in 2011. It’s the sixth consecutive year that the poverty rate has failed to improve.

There are plenty of depressing statistics in the report — 48 million Americans remain uninsured, for one — but what I find most terrifying is the stagnant income growth among median-wage earners and lower.

Just look at the chart below. Economic growth since 1967 has delivered rising incomes, but only for those above the median income level. All that inequality at the heart of mayoral races across the country and President Obama’s economic push? It’s a very real thing.

What’s worse is that those high earners represent a minuscule part of the population. Income distribution in the U.S. is skewed heavily. Look at all the Americans stacked between $17,000 and $66,000:

The largest portion of our working population isn’t seeing wage growth, and — if you want to get all nostalgic on the anniversary of Occupy Wall Street — the One Percent has increased consistently.

The Equity Factor is made possible with the support of the Surdna Foundation.

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Bill Bradley is a writer and reporter living in Brooklyn. His work has appeared in Deadspin, GQ, and Vanity Fair, among others.

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Tags: income inequalitypovertyequity factor

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