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The Poor Get Richer

Interesting piece in yesterday's WaPo echoing a piece we posted here last week, on a new CBO study showing that the poor apparently are getting richer. The rich did OK, too, mind you (that won't sit well with the income redistribution crowd) but the really good news is that the so-called "bottom fifth" (or bottom "quintile" in economists' parlance) are actually doing better as their earnings increased a whopping 80% since 1991, besting the other four quintiles.

We predict as the campaign of 2008 bumps along that this will continue to be a well-kept secret. Once again, had the numbers gone the other way, it would have breathlessly led every mainstream media (MSM) news report and fishwrap. But as it is, good news about the poor actually doing better for some reason just doesn't make the front page cut.

Here's a link to the CBO study that wrecks the "poor are getting poorer" buzz.


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This page contains a single entry from the blog posted on May 30, 2007 8:19 AM.

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