Connecticut ranks as one of the wealthiest states in America while also harboring areas immersed in poverty. The disparity is evident as high-income suburbs like Greenwich are near impoverished urban areas such as Bridgeport. The top 1% earn over $2.5 million annually, contrasting sharply with the income of the bottom 99%. Nationally, the top 1% owns a significant portion of wealth, highlighting stark income inequality. Inflation continues to affect households, costing them significantly more than two years earlier, which reflects ongoing economic challenges.
In Connecticut, the top 1% earn upwards of $2.5 million annually, revealing a stark income disparity compared to the bottom 99%, which earn much less.
Despite being one of the wealthiest states in the US, Connecticut has 360,400 citizens living below the poverty line amidst affluent areas.
Nationally, the wealth distribution is extremely disproportionate, with the top 1% holding 32.3% of the nation's wealth, contrasting sharply with the poorest 90%.
In July 2023, the cost of goods and services for typical American households was $709 more than in July 2021, highlighting ongoing inflationary pressures.
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