The adage that “the rich get richer and the poor get poorer” appears to be accurate. An analysis conducted by the Economic Policy Institute indicates that the richest one percent of U.S. Households had a net worth 225 times greater than the average American household in 2009. That’s up from 190 times greater, the previous record set in 2004.
The widening of the gap between the wealthy and the rest of us occurred even as the average worth of the wealthy crashed by 27 percent — to about $14 million — as the recession hit. That marked the first decline since the three-year period of 1992-1995, according to the EPI.