Group items tagged

"Income inequality refers to the extent to which income is distributed in an uneven manner among a population. In the United States, income inequality, or the gap between the rich and everyone else, has been growing markedly, by every major statistical measure, for some 30 years." This article talks about the gap between the rich and the poor. It says that the wealthiest people had a national income of 23.5% in 2007, and the Great Recession followed. This is similar to the Great Depression. This shows that income inequality can impact the whole country and should be considered a big problem.

"Income inequality refers to the extent to which income is distributed in an uneven manner among a population. In the United States, income inequality, or the gap between the rich and everyone else, has been growing markedly, by every major statistical measure, for some 30 years." This article gives an in-depth description of the issue of income inequality, comparing different income-related statistics to those of earlier decades. It also informs of how this issue is progressively becoming less of a problem, but still needs to be addressed.

Stats on income inequality.

Is it time to stop obsessing about inequality? Whatever the reason, suddenly inequality seems to be not only at the top of the liberal agenda, but in the thoughts of concerned American voters. In his view, the defining challenge of our era is that workers in the bottom half of the distribution can no longer trust that their living standard will double every generation.

" Inequality itself is the wrong thing to look at," he told me. The real problem is slow growth." This article talks about income inequality and why it could be important. It also talks about things other politicians, such as presidents, have said about income inequality.

s it time to stop obsessing about inequality? Perhaps it was President Obama's speech last December, calling the nation's vast income gap "the defining challenge of our time." The American publication of the French economist Thomas Piketty's blockbuster "Capital in the Twenty-First Century" must have helped.

"In targeting income inequality, Mr. Romney joins a growing group of potential 2016 candidates who have listed the issue as a top concern. " This article by the Wall Street Journal goes over what Mitt Romney, a presidential candidate, thinks about the income inequality in the United States.

Short-term economy is looking up, but inequality has worsened, according to Romney.

"Mr. Romney signaled that a potential third campaign for the White House would focus in part on lifting Americans from poverty. He said that while the economy in the short term was "looking up," income inequality had worsened." This article, published in The Wall Street Journal, addresses the affects of income inequality on the overall economy of America. It states that income inequality, is a problem that needs to be addressed. Stopping the chain of poverty in the USA, is necessary to keep the economy going up.

"In the case of the United States, the distributions of income, wages, and wealth are more dispersed than ever....while we do not aspire to equal economic outcomes, we believe strongly in equal opportunity. If inequality were to thwart the opportunities of the "have-nots," this would represent a significant violation of a basic American tenet." This article talks about how the economic inequality in the United States today has reached historically high levels. It provides statistics to support statements of inflation and inequality between the poor and middle class households with the stock market and corporate profits; or the "haves" and "have-nots". It also provides ways we can fix the "economic recession".

"This fact, however, has different implications for different observers. Many critics of higher inequality suggest that it violates basic fairness, particularly when considering, for example, the divergence of median compensation and productivity growth. Such trends, these critics hold, are evidence of working people no longer getting their "fair share" of the growth that they are helping to generate. Others note that inequality serves as a wedge between growth and living standards, funneling income largely to those at the top of the scale and thus making it harder at any given level of economic growth for living standards to grow as they have in more equitable times or for poverty to fall during business cycle expansions. Economic growth, as this report argues, has become a spectator sport for too many poor and middle-class households that watch as the gross domestic product, or GDP, productivity, the stock market, and corporate profits rise while their incomes either stagnate or grow much more slowly." This article elaborates on the opinions people with different incomes have on income inequality. Also, it provides statistical information regarding income inequality between the middle class and the wealthy.

This article relates to income inequality because it describes how inequality is a "three headed hydra." The article describes the three heads as income inequality, consumption inequality, and wealth. The three are related by the author and he/she raises key questions about which measures of inequality we should be concerned with.

"The stark contrast in household earnings illuminates a disturbing fact: Richmond has one the highest levels of income inequality in the United States, according to data released Tuesday by the U.S. Census Bureau." According to this article, Richmond has one of the highest levels of income inequality with bottom quintile of the city's households making averagely $7,000, and the top quintile averagely making $170,000. One in four of Richmond residents lives on or below the poverty line, and there are many theories for the growth of income inequality. Among these are elimination of jobs due to technological advances and discrimination against minorities and women. 

"Windsor Farms is a historic neighborhood in Richmond's West End just north of the James River. Its streets are lined with colonial-style homes meant to mimic an English village. Seven and a half miles away is the Gilpin neighborhood in Richmond's Northside, next to Interstates 64 and 95. Its streets are lined with one of the largest public housing projects on the East Coast, Gilpin Court.  Windsor Farms Gilpin Court Though it's just a 15-minute drive between Windsor Farms and Gilpin, the two neighborhoods are worlds apart in terms of socioeconomics. The average annual household income for residents in Windsor Farms is about $185,000; in Gilpin, the figure is less than $10,000."

"Middle-class and low-income individuals who make up most of the population in our state aren't earning enough to buy the goods and services that the economy is capable of producing. The result is a shrinking middle class. Middle-class families, defined as households earning 50 percent below and above the median income, are earning less than middle-class families did in 1989. The decline in high-paying jobs is pushing more families into the lower class, thus widening the gap between rich and poor." This article explores the level of income inequality present in Richmond, the city with the highest income inequality in Virginia and one of the highest in the United States. One in four individuals live on or below the poverty line. Segregation, racism associated with banking, and highway construction limited the poverty level to specific areas of the city. There is no transportation provided beyond city lines, forcing the average-middle class to take the incentive to live in the country as opposed to the city. This forces the lower class to live within the city. The article discusses how stable well-paying jobs have disappeared and not been replaced, causing the American middle class to shrink. The lack of high paying jobs is currently pushing more families into the lower class, widening the gap between rich and poor.

"Some inequality of income and wealth is inevitable, if not necessary. If an economy is to function well, people need incentives to work hard and innovate. The pertinent question is not whether income and wealth inequality is good or bad. It is at what point do these inequalities become so great as to pose a serious threat to our economy, our ideal of equal opportunity and our democracy." This article explains why inequality is necessary for a healthy government. Being in the Gilded Age again shows possibility, if everybody, including the government, puts their best effort in making it true.

"I recently analyzed data on national living standards from three different sources encompassing 160 countries. I compared the living standards enjoyed by the poor and by the middle class to inequality measures from two sources. These comparisons consistently showed that once the developed nations of Europe, Asia, and the English-speaking world are distinguished from the developing world, there is a tendency for countries with more inequality to have higher living standards below the top." This article basically states that though income inequality sometimes causes the lower percent of earners to be poorer, studies show that in many cases, there is a higher standard for living in places with income inequality, as well as saying that income inequality only used to be a more major issue in the past.

"President Obama will propose a 10-year budget on Monday that stabilizes the federal deficit but does not seek balance, instead focusing on policies to address income inequality as he adds nearly $6 trillion to the debt." This article outlines President Obama's plan to address income inequality in America.

" President Obama will propose a 10-year budget on Monday that stabilizes the federal deficit but does not seek balance, instead focusing on policies to address income inequality as he adds nearly $6 trillion to the debt." This article focuses on a new budget that President Barack Obama is proposing that will hopefully successfully address income inequality. The article explains how Obama works to fix the inequality, although the debt is still increasing. Throughout the article, the reader gains more information about how Obama plans to raise taxes on the wealthy and increase the incomes of those in the middle class through new spending and tax credits. 

This article explains how the current president of the United States is tackling income inequality. If I was president, it would be a long time away from now and changes could be made by the current presidents and the ones before me. Based on this article, I could easily create my opinion on income inequality in the US.

"America needs a vibrant and prosperous middle class to drive economic growth. Unfortunately, with the increasing economic inequality of the past several decades, the United States has become less of a middle-class nation, and those in the middle have found themselves increasingly financially squeezed and struggling to get by. It is time that policymakers take action to reverse these trends by working to boost middle-class incomes and to ensure that the essentials of a middle-class lifestyle remain affordable. " This article shows how income inequality has become an increasing issue in the U.S. over the years. It depicts how as the issue has been increasing, America's middle class has actually been shrinking. It shows the struggles of the middle class against the issue through statistical data as well.

America's middle class has begun to shrink in the last 20 years due to the rich becoming even richer and the poor becoming even poorer. As income inequality has grown in the US, the size of the middle class has shrunk astronomically. For example, in 1979, the middle class was 57% of the US, but now, it is only 42%. This leads to a greater separation between the rich and poor

"America's middle class is struggling. As recent economic data show, middle-class household incomes remain stagnant at a near-25-year low, and the share of the nation's economic gains going to the middle class has fallen to near-record lows. Meanwhile, the costs of middle-class essentials-such as child care, higher education, health care, and housing-have rapidly increased. Beyond these well-documented facts, however, another long-term trend affecting the middle class has received somewhat less attention: As income inequality has steadily grown in the United States, the actual size of America's middle class has shrunk." This article explains various effects of income inequality on middle class citizens. It discusses the decrease in middle class households over time. Due to income inequality, less than 50% of American households can actually be considered "middle class".

"Wealth inequality is also an artifact of income inequality; the two trends work together to magnify the former. As the bottom 90% struggle to make ends meet on stagnant incomes, they're unable to accumulate savings. "Today, the top 1% save about 35% of their income," the authors write, "while bottom 90% families save about zero."" This article can be summarized in saying that income inequality is a significant issue because it goes hand in hand with wealth inequality, which is a serious issue.

"Some economists have long argued that a widening income gap suppresses economic growth and job creation, and may be one reason this economic recovery doesn't feel like a recovery at all." This article represents my viepoint on the issue of income inequality. Although there are a few benefits to different incomes, the cons outweigh the pros. People of the middle and lower classes have been discovered to spend more of their income then the wealthy. This causes an overall decrease in the economic growth of the country. This is just one of the many bad effects income inequality has on America. Other effects include the greater lifespan of rich people compared to poor people, and the difference in the quality of education that children receive.

""The 400 richest people in the United States have more wealth than the bottom 150 million put together," said Berkeley Professor and former Labor Secretary Robert Reich on a recent CNNMoney panel on inequality." This Website really makes you think about how money is distributed in America today, but you also still have to think didn't these rich people earn their money? I mean don't you think it would be unfair to take their money away and give it to other people if they earned it a worked hard for it?

""The 400 richest people in the United States have more wealth than the bottom 150 million put together," said Berkeley Professor and former Labor Secretary Robert Reich on a recent CNNMoney panel on inequality. Meanwhile, the median wage earner in America took home 9% less last year than in 1999. But the rising income gap is manifesting itself in American society in other ways too. Social scientists have long said income inequality is bad for society. Yet popular measures of social stability -- crime rates, voter non-participation -- have been going down over the last couple of decades." The article talks about how income inequality is very bad for america and that it needs to be discussed. It effects economic growth and ever peoples' lifespan.

"President Obama has declared income inequality to be the "defining challenge of our time." The article states some of the main causes of income inequality. Single parenthood, between 1980 and 2012, was found to be the main cause of income inequality. Also, divorces have affected income inequality.

"The best argument for putting inequality on the back burner is the depressed state of the economy. Isn't it more important to restore economic growth than to worry about how the gains from growth are distributed? This article talks about the importance of income inequality. This article also gives examples that relate to income inequality. Well, no. First of all, even if you look only at the direct impact of rising inequality on middle-class Americans, it is indeed a very big deal. "

"The Mystery Of Income Inequality Broken Down To One Simple Chart" Overall, the article unraveled the complex system that is income inequality. Included is a graph that shows the inequality growth from 1948 to the present. Also the article talks about how a growth in income created income inequality.

"Much has been written about the domestic consequences of growing income inequality in the United States - how inequality depresses growth, puts downward pressure on the middle class, accentuates wage stagnation and creates added difficulty paying for a college education and buying a home " This article by The Washington Post talks about how income inequality would not only affect America domestically, but also internationally. Having income inequality would undermine America's authority as a world power on an international level as well.

"Deepening income inequality - While wealth is rapidly increasing in developing nations, and advanced economies struggle with stagnation, there is great concern about rising economic inequality in all parts of the world, particularly in Asia, according to the Global Agenda survey. The Outlook 2015 report suggests renewed focus on improved education, tax policy and job creation as ways to alleviate the problem. Pew Research Center's own findings show that majorities in all of the 44 nations surveyed say inequality is a big problem facing their countries" This article is about how income inequality can be a big threat in the new year. The economy is struggling and this is a big concern in all parts of the world.

"other economists warn that a minimum wage hike to $10.10 - the level Obama and Congressional Democrats are calling for - would be bad for business. The CBO estimates that the $10.10 option would reduce total employment by 500,000 workers once fully implemented in the second half of 2016." This excerpt does a good job of highlighting just how debilitating income inequality can be. With an addition of as little as $3.00 to minimum wage payments, total employment would reduce by 500,000 workers. I agree with the article that income inequality is a major struggle faced in America. President Obama said, "[income inequality] jeopardized middle class America's basic bargain- that if you work hard you get ahead." This defines the effect income inequality has on America. The rich get richer and the poor fall deeper into poverty. For that reason and to answer the discussion question, if I were running for president I would make it clear that this income problem would be solved because it is "the root of all social evil." Similar to the Romans, income inequality is what prompts social division in America. This article directly relates my answer to the discussion question because it gives detailed analysis of the negative role income inequality plays on our lives today.

Money is now being called thew root of all evil. It is no lie that income inequality is a problem. It limits social mobility and threatens a lot of things that are important to Americans.