Widening Income gap

Read this a while back:

A RECENT analysis of United States income tax data revealed that the income gap in the country is widening...But even that understates the shift that has taken place. Though almost everyone in the top 10 per cent saw their incomes rise in 2005, the top 1 per cent saw their incomes rise the most. They earned 21.8 per cent of total income in 2005, compared to 19.8 per cent in 2004. And among the top 1 per cent, the top tenth of a per cent (0.1), reporting an average income of US$5.6 million, gained the most; and the top one-hundredth of a per cent (0.01), reporting an average income of US$25.7 million, gained even more.

The same's happening in most other developed nations, including Singapore. The problem is that the market determines these effects based on the demand for skillsets. Here, calculate your own demand in the marketplace through this Income Percentile for Singapore:

Income Percentile

When your're done with that, check out Paul Graham's interesting essay on income gaps. This should help you come to terms with your evaluation above.

(via AsiaOne)

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