Income Inequality: Difference between revisions

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 [https://time.com/6977602/america-economy-inequality-essay/ by Daniel Chandler 14/5/24 TIME]
   The recent revival of industrial policy, championed by President Biden, is a clear repudiation of the first of these beliefs. It reflects a growing recognition among economists that state intervention to shape markets and steer investment is crucial for fostering innovation, protecting strategically important sectors like semi-conductors, and tackling the climate emergency.
+=====5 Facts About Rising Income Inequality in the United States=====
+[https://www.pgpf.org/article/5-facts-about-rising-income-inequality-in-the-united-states/ by PETER G.PETERSON FOUNDATION]
+ Over the past four decades, average household income grew by 95 percent after adjusting for inflation; however, that growth largely stems from earners in the top part of the income-distribution. Average income in the highest quintile was 165 percent higher in 2021 than it was in 1981 — over four times the growth of average income in the lowest quintile (38 percent over the period). Meanwhile, the median household income grew by just 33 percent. Those statistics do not account for the effect of taxes or transfer programs such as Medicaid, the Children’s Health Insurance Program, and the Supplemental Nutrition Assistance Program; such programs provide cash payments or other forms of assistance to people with relatively low income or few assets.

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