Income Gap Shrinks in Slump at the Expense of the Wealthy

Publication: The Wall Street Journal

Author: Bob Davis and Robert Frank

09/10/2009 - The deepest downturn in the U.S. economy since the Great Depression may finally shrink the gap between the very best-off Americans and everyone else.

If so, it won't be by lifting up the bottom. It will be by pulling down the top.


At the same time, the amount of mobility up and down the American income ladder has remained largely unchanged over the years, according to most academics who have studied the issue. The rate has been relatively unchanged since 1969, says the Pew Charitable Trust.

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