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US Income Inequality Rose to Record During Biden’s First Year!
The so-called Gini Index rose by 1.2% last year to 0.494, according to data released Tuesday by the US Census Bureau. The index measures how income is distributed, with a value of 0 representing perfect equality while 1 indicates absolute inequality.
The same report showed the US poverty rate climbed for a second straight year in 2021 and household income slipped slightly. Last year, 37.9 million people were in poverty, about 3.9 million more than in 2019.
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