
“In the town that launched the War on Poverty 48 years ago, the poor are getting poorer despite the government’s help. And the rich are getting richer because of it. The top 5 percent of households in Washington, D.C., made more than $500,000 on average last year, while the bottom 20 percent earned less than $9,500 – a ratio of 54 to 1. That gap is up from 39 to 1 two decades ago. It’s wider than in any of the 50 states and all but two major cities.”
Related posts:
Firebombing Denver instead of Dresden?
A Social Phenomenon: Protests Erupt in Brazil
Bill Bonner: The Opportunity of a Lifetime – In Real Estate
Peter Schiff: Cyprus Lifts the Curtain
When Price Controls Reach Your Dining Table
Detlev Schlichter: Global economic policy now firmly in the hands of money cranks
Is America Going to Hell in a Handbasket?
Glenn Greenwald: Obama, Congress and Syria
Ron Paul: Will the IRS Take Your Passport?
Judge Napolitano: The NSA Scandal Violates the Lessons of Our History and Our Constitution
What Egypt Tells Us About U.S. Foreign Aid
New dynamic in Iran's European ties
Trump Travel Bans, Then And Now
The Syria AUMF: Be Careful What You Vote For
Bill Bonner: The Fed Can’t Stop What’s Coming