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Are the rich really getting richer?

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    A look at what the numbers say

  • Duration 2:33
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It is it common -- refrain that the poor are getting poorer and the rich are getting richer.

But chief national correspondent Jim Angle shows us tonight there's new evidence to the contrary.

President Obama determined to raise taxes on wealthier taxpayers arguing every one needs to pay their fair share but the administration's argument goes beyond that and there is nothing subtle about it.

The vast majority in America the middle class musician -- it over the last few decades.

The -- On the latter of -- Have grown farther and farther apart.

The middle class is -- A noted analyst however says that's not true that you often hear that the middle class is in decline.

Or or shrinking and that's just not the case when -- -- do a study from the Congressional Budget Office since nineteen.

-- nine.

In the in the average income of the household in the middle fifth.

Has increased by a third.

For the bottom fifth it's actually increased by over 40%.

The president seems to -- -- world in which the poor are hurt by the wealthy but that isn't so clear either take FaceBook founder Mark Zuckerberg who made a billion dollars or more when FaceBook went public did his games come at the expense of those who make less.

And I don't think there's a lot of evidence that's the case it's unclear that anyone is made worse off because of that one thing is clear tax policy has nothing to do with income inequality the latest report from the Congressional Budget Office shows that of the total income taxes collected.

The bottom 20% and and -- pale late point 3% of total taxes the middle 20% pay nine point 4% and the top 20% pay 67.

Point 9% of total income taxes analysts also say income distribution does not like geological strata in stone and the immovable.

But rather like an escalator with people moving up.

And down over time.

If you're born in the lowest 20%.

The likelihood is you're not gonna end up in the lowest 20% in part because as people start their careers incomes are low as they advance and get more experienced or get married or start a business.

There income grows.

About 60% of people who started in the bottom -- make it out of the bottom fifth time ten years later.

The recession hurt top -- the most the bottom losing eight sleepers are who bottom eighty losing 5% and become the top fifth 18% of the top one.

36%.

Brett.

Jim thank you.

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