A study of wealth and poverty
The rich get richer and the poor get poorer. That unpleasant maxim seems to sum up the message of The Reagan Record, a 400-page study released last week by the Urban Institute, a respected nonpartisan think tank in Washington.
According to the report, the President's policies have resulted in a $25 billion income transfer to the wealthiest one-fifth of the nation from those less well off.
Since 1980 the disposable income of the poorest one-fifth of all American families declined by 7.6% after inflation, to $6,391. The income of the wealthiest one-fifth rose by 8.7%, to $40,880. Middle-class...