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Prosperity Watch: Rising economic growth fails to lift all boats

Posted By Allan Freyer On November 6, 2013 @ 4:00 pm In NC Budget and Tax Center | Comments Disabled

All too often, we hear the comforting notion that when it comes to economic growth, a “rising tide lifts all boats”–that a growing economy benefits everyone through rising incomes. As the latest issue of Prosperity Watch [1]makes clear, however, the reality of North Carolina’s economic growth has exploded this myth for far too many families in the state. Despite steady growth in Gross State Product–the total value of all the goods and services produced in North Carolina–median household income has actually declined since 2004, suggesting that the rising tide of growth is leaving too many families alone to sink. See the latest issue of Prosperity Watch [1]for details.


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[1] Prosperity Watch : http://www.ncjustice.org/?q=budget-and-tax/prosperity-watch-issue-31-no-1-economic-growth-fails-generate-increased-incomes-nc

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