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Maryland’s economy looks great on paper. We have a highly educated workforce, the highest median income in the country, and more millionaires per capita than any other state. At the same time, a small number of wealthy households have captured a rising share of our state’s economic growth in recent decades, leaving less for the rest of us. Since 1979, the top 1 percent of Maryland households have seen their incomes more than double (after adjusting for inflation), while wages for a typical worker increased by only 13 percent—equivalent to a 0.3 percent annual growth rate.i In short, Maryland’s economy today delivers enormous rewards to a few while leaving many more behind.
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