Monday, August 13, 2007

Rich are getting richer, according to U. of Michigan research

"Over the last 20 years, the net worth of the top two percentile of American families nearly doubled, from $1,071,000 in 1984 to $2,100,500 in 2005. But the poorest quarter of American families lost ground over the same period, with their 2005 net worth below their 1984 net worth, measured in constant 2005 dollars."

That's according to research from the U. of Michigan's Institute for Social Research.

Related URLS:

Institute for Social Research:

Panel Study of Income Dynamics:

Frank Stafford:

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