The gap in income between the wealthiest and poorest American has grown to its widest level.
The Wall Street Journal has reported that the wealthiest 1 percent of all Americans earned 21.2 percent of all the nation’s income in 2005
The bottom half of working Americans earned just 12.8 percent of all the nation’s income.

According to The Wall Street Journal, the figures, based on “adjusted gross income” which incorporates certain deductions such as contributions to individual retirement accounts, revealed that the income level for the tax filer in wealthiest 1 percent of Americans grew 3 percent to $364,657 between 2000 and 2005.
The paper also reported that Academic experts feel that the income disparity among Americans was due a combination of factors including globalization and technical advances, which favor the most skilled workers, while the recent boom on Wall Street was also seen playing a large part.

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