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If we consider that poverty in America is more a relative problem than an absolute problem (which I concede temporarily, I know that there was an argument on this nos so long ago between MarekNYC and - Izzy, was it you?), the above graphs show that relative poverty has become a much bigger issue recently - since Reagan, basically.

Average income in the US has lost all meaning since all the growth has taken place pretty exclusively at the very top. Median incomes have grown much less.

And now, before we are again accused of anti-Americanism, let me point out that poverty has also increased in France, and is a real issue. Paris seems to have more homeless and working poor than any other big European city. (Incidentally, and probably linked to this, French bosses have the second "richest" stock option and ancillary remuneartion packages in the world, after the US) I'll try to provide some hard numbers.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Wed Oct 12th, 2005 at 04:59:04 AM EST
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