Monday, March 13, 2006

Income trends in Wisconsin

The Center on Budget and Policy Priorities has issued a report about income trends in the states. The Wisconsin report highlights (or lowlights) can be found here.

It shows the gap between the rich and the poor is not growing as fast as in some other states, but it is growing. It also shows how wages are just not keeping pace with inflation. Yes, we've had low inflation lately but when you see this fact for the incomes over the last 20 years:
The average income of the poorest fifth of families increased by $2,519, from $17,677 to $20,197. This is roughly an increase of $120/yr.
you have to admit that $120 extra a year is just not enough to deal with the increases in gas prices, home heating and health care costs.

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