Inequality is everywhere. No state in the country has managed to prevent the top 1 percent from gaining a greater share of the nation’s income.The struggles of Blue America.
But few have seen their economies so riven by inequality as Massachusetts. Top earners in the state make about 30 times as much as the bottom 99 percent. That’s higher than 44 other states.
The bleak state-by-state picture is laid out in a new report from the left-leaning Economic Policy Institute (EPI), which has combed through the latest available tax returns (from 2013) to figure out who’s really benefiting from our slow-moving economic recovery. And the results aren’t pretty — even if they have become darkly familiar.
The worst cases are nearby New York and Connecticut, but these days, all paths seem to lead to higher inequality. It doesn’t matter whether you’re a hub of high finance (like New York), information technology (like California), gambling (Nevada), or warm-weather retirement communities (Florida). Inequality is everywhere on the march.
Thursday, June 16, 2016
Few states match Mass. in income inequality
The Boston Globe reports: