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OECD, IMF Warn Against Growing Income Inequality

Written: 2013-05-16 14:57:05Updated: 2013-05-16 17:02:34

OECD, IMF Warn Against Growing Income Inequality

Both the Organization for Economic Cooperation and Development and the International Monetary Fund are warning against growing income inequality.

The OECD analyzed that the top ten percent of populations in 35 OECD member countries earn nine-point-five times more than the bottom ten percent.

The organization said that income inequality increased more in the first three years of the latest economic crisis through the end of 2010 than it did in the previous 12 years.

IMF Managing Director Christine Lagarde said in a meeting on Wednesday that in the U.S., the share of the richest one percent of the population accounts for 18 percent of the total pre-tax income.

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