80 percent of the households in America make 50.6 percent of all the income in America.
The richest 20 percent of the households, on the other hand, make 49.4% of the income.
so the folks that fall between 21 & 80% make 1.2% of the income in this country?
I'm pretty sure the author means that 1/4th of that 80% make 49.4 of the money that is 50.6% of the national income, but it could use a little clarity on that point.
No, you've got the wrong 80%. He's talking about the bottom 80%.
The bottom 80% of households earn 50.6% of all income. The top 20% of households therefore get the other 49.4%. This gap is recent, according to the article - the differentials were smaller in the 50's and 60's.
and lets pick out an obvious fallicy right now (Score:0, Troll)
80 percent of the households in America make 50.6 percent of all the income in America.
The richest 20 percent of the households, on the other hand, make 49.4% of the income.
so the folks that fall between 21 & 80% make 1.2% of the income in this country?
I'm pretty sure the author means that 1/4th of that 80% make 49.4 of the money that is 50.6% of the national income, but it could use a little clarity on that point.
Re:and lets pick out an obvious fallicy right now (Score:5, Informative)
The bottom 80% of households earn 50.6% of all income. The top 20% of households therefore get the other 49.4%. This gap is recent, according to the article - the differentials were smaller in the 50's and 60's.