• Drastic income inequality is putting a strain on America's social safety net

    3 monthes ago - By Business Insider

    Sharp US income inequalities are only partially offset by means-tested social programs and taxation-based transfers, according to a new report from the Congressional Budget Office.
    For the top 20% richest US households, average income was more than ten times that of households in the lowest quintile.
    Income inequality has worsened considerably in the last three decades, the report finds; it also identifies deep disparities within the wealthiest 20%.
    US inequality has become so vast that taxes and transfers don't even come close to narrowing the gap.
    A new report from the independent...
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