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Posted September 27, 2012 by

Why the Rich Get Richer & the Poor Stay Put

Sarah Shemkus

Sarah Shemkus, Salary.com contributing writer

The typical American household had less income last year than the year before and the gap between the richest and the poorest is growing, according to newly released numbers from the U.S. Census Bureau.

Adjusted for inflation, median household income in 2011 was $50,054, down 1.5 percent from the 2010 midpoint. The decline was driven largely by households in the West, where income fell 4.1 percent, to $52,376, over the same period. (more…)