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Contents contributed and discussions participated by hcps-crawlejl1

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U.S. income inequality is bad, but wealth inequality is a bigger problem - LA Times - 4 views

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    "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.
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Income Inequality Is Good For The Poor - 9 views

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    "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.
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