Income Inequality: Difference between revisions
From WikiDemocracy
Jump to navigationJump to search
No edit summary |
No edit summary |
||
| Line 10: | Line 10: | ||
Income Inequality Chart 1.png|[https://inequality.org/facts/income-inequality/ Income Inequality in the US] | Income Inequality Chart 1.png|[https://inequality.org/facts/income-inequality/ Income Inequality in the US] | ||
</gallery> | </gallery> | ||
See improvements you could make on this page? | |||
Go ahead [[Special:CreateAccount|become a member]] and make your changes | |||
'''Resources''' | |||
[https://inequality.org/facts/income-inequality/ Income Inequality in the US.org] | |||
=====‘Socialism for the rich’: the evils of bad economics===== | =====‘Socialism for the rich’: the evils of bad economics===== | ||
| Line 635: | Line 639: | ||
[https://www.pgpf.org/article/5-facts-about-rising-income-inequality-in-the-united-states/ by PETER G.PETERSON FOUNDATION] | [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. | 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. | ||
