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24/7 Wall St.: States with the Widest Gap Between the Rich and Poor

10. Tennessee

Gini coefficient: 0.4756
Median household income: $41,693 (6th lowest)
Households earning $200,000+: 3.4% (tied for 15th lowest)
Population living below poverty line: 18.3% (12th highest)

Income inequality in Tennessee increased slightly in 2011 compared to 2010. Like most states, the middle-class took a hit, as median income declined by $760 between 2010 and 2011. In addition, more people found themselves out of the middle class as evident by the rise in the percentage of residents on food stamps, from 17.0% in 2010 to 17.6% last year. This was the third-highest percentage of all states. In a report released by the liberal-leaning Institute for Policy Studies, two of Tennessee’s congressional representatives received the an “F” grade for not supporting measures and legislation to narrow the income gap in the state.

(iStock)

More From 24/7 Wall St.:
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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