A new report released today “Pulling Apart: A State-by-State Analysis of Income Trends,” by the Center on Budget and Policy Priorities (CBPP) and the Economic Policy Institute, shows that income inequality in Washington state is at historic highs. Since the late 1970s, incomes of the state’s wealthiest households have risen substantially, while moderate- and lower-income families have seen only small or negligible gains.
Unfortunately, budget and tax policy decisions in Washington state have only exacerbated these trends making the gap between the wealthiest and lower-income households larger and harder to close. In order to stem the tide of increased inequality Washingtonians must come together to fix our broken revenue system and reinvest in the priorities that strengthen the middle class and ensure shared prosperity.
For more information on the strategies we can pursue to close gaps and spur economic growth, read our latest policy brief “In Pursuit of Prosperity: Eight Strategies to Rebuild Washington State’s Economy”
Check out our infographic below detailing how Washington state has slowly been pulled apart. A printable version can be found here.
Read the full report here.