The rich are getting richer, nobody can find a job, worst economy since Hoover. Blah, Blah, Blah.
The gap between rich and poor -- a rallying cry for some congressional Democrats wanting to increase mandates on business -- isn't really growing that much, according to data from the U.S. Census Bureau.
From 2001 to 2005 -- the last year data was available -- there was virtually no statistical change in income inequality, based on a statistical test by the Census Bureau, requested and released by Congress's Joint Economic Committee.
The data came out amid calls by the new chairman of the House Financial Services Committee, Rep. Barney Frank (D-Mass.) for the federal government to work to reduce income inequality by requiring companies to pay higher wages, provide better employee health care coverage, and empower unions.
Rep. Jim Saxton (R-N.J.), the top House Republican on the Joint Economic Committee, said Congress should review the actual evidence rather than react to common assumptions.
"A lot has been said about income inequality, but the fact is that it hasn't changed much in recent years," Saxton said Thursday. "Congress should consider this fact before acting on the assumption that income inequality is surging."