Rich-Poor Divide Worst Among Rich Countries
Posted: Wednesday, October 22, 2008
by Jim Lobe
WASHINGTON - The "American Dream" of upward social mobility appears to have emigrated from its birthplace in the United States to northern Europe, according to a major new report by the Organization for Economic Cooperation and Development (OECD) on the growth of economic equality over the past 20 years.
Of its 30 member states, most of which are also members of the European Union, the United States has the largest gap between its wealthiest and poorest households after Mexico and Turkey, according to the report, "Growing Unequal?", which was released at OECD headquarters in Paris Tuesday.
That gap has grown particularly large in the U.S. since 2000 -- that is, under the administration of President George W. Bush -- according to the report, which found that the gap between the U.S. middle class and the wealthiest 10 percent has also increased.
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