Income Gap In Alabama Widens; Approaching "Gilded Age Levels"

Carol Gundlach, a policy analyst for Arise Citizens' Policy Project is the author of a new whitepaper, "The Growing Divide: Alabama's Income Gap Is Approaching Gilded Age Levels". Gundlach argues in the piece that the widening gap between rich and poor is bad for the overall health of the economy. Some highlights from Gundlach's report:-"Between 1979 and 2007, the top 1 percent of Alabamians saw income growth of 158.8 percent, while the incomes of everyone else grew on average by only 20.5 percent.-Between 2009 and 2011, all income growth in Alabama accrued to the richest 1 percent of the state’s population.-Between 2008 and 2012, the top fifth of Alabamians held more than half of the state’s total income, and the top 5 percent alone held 21.4 percent.-In 22 Alabama counties, the share of income held by the top 5 percent exceeded the state average. In six of those – Clarke, Conecuh, Jefferson, Lamar, Lowndes and Randolph – that share topped 24 percent."This interview was broadcast on the Oct. 21 edition of Capstone News Now on WVUA-FM in Tuscaloosa, AL. Anchors: Rich Robinson, Chris Beacham Producer: Marcus FlewellenFollow us on twitter @[email protected]#News #Alabama #Tuscaloosa #America #USA #Wealth #IncomeGap #Inequality #Democracy #Money #Economics