By Matt Levin, CALmatters
Where in California has the gap between rich and poor grown most since the Great Recession?
The Bay Area, home of your Zuckerbergs and Steyers and some of the most expensive zip codes in the country, seems like a logical answer. Over the past decade, what other part of California has minted as many members of the “1 percent” as Silicon Valley?
But according to research from the nonpartisan Public Policy Institute of California, income inequality in the Bay Area has worsened only marginally, at least when compared to other parts of the state. In 2007, Bay Area households at the top 10 percent of incomes made about 10.6 times what Bay Area households at the bottom 10 percent of incomes brought home. By 2014, they made about 11.6 times as much.
Read the complete story at CALmatters.
