Sunday, August 21, 2011

Inequality Grows in Massachusetts: Blue State Failure

The Boston Globe reports:
While family incomes across Massachusetts have generally risen over the past three decades, the state’s poorest residents have fallen behind. And nowhere have they fallen farther than here in Western Massachusetts, where families in the bottom fifth of the income scale have seen inflation-adjusted earnings drop below 1979 levels, according to a new study by University of Massachusetts economists.

The study paints a stark picture of two commonwealths, in which the gap between rich and poor, east and west is growing. For example, the inflation-adjusted median income of affluent families in Greater Boston has grown 54 percent since 1979, to $230,000 from $150,000 a year, largely due to high-paying technology jobs.
No wonder Massachusetts continues to lose residents to Texas.