SACRAMENTO - Income gains over the past generation have overwhelmingly benefited California's wealthiest residents. That’s according to a new report from the non-partisan California Budget Project.
The report shows that between 1987 and 2009, more than one-third of Californians' income gains went to the wealthiest 1 percent. Almost three-quarters of the gains went to the top 10 percent.
The CBP wrote "We are living in an era of widening inequality, with income gains concentrated at the top, and most families in the state are falling behind." (INT)
The report shows that between 1987 and 2009, more than one-third of Californians' income gains went to the wealthiest 1 percent. Almost three-quarters of the gains went to the top 10 percent.
The CBP wrote "We are living in an era of widening inequality, with income gains concentrated at the top, and most families in the state are falling behind." (INT)
Story Date: December 2, 2011
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