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Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
A December 2011 Gallup poll found a decline in the number of Americans who rated reducing the gap in income and wealth between the rich and the poor as extremely or very important (21 percent of Republicans, 43 percent of independents, and 72 percent of Democrats). [190] Only 45% see the gap as in need of fixing, while 52% do not.
BLS explained the gap between productivity and compensation can be divided into two components, the effect of which varies by industry: 1) Recalculating the gap using an industry-specific inflation adjustment ("industry deflator") rather than consumption (CPI); and 2) The change in labor's share of income, defined as how much of a business ...
The Great Recession also caused a drop of 36% in median household wealth, but a drop of only 11% for the top 1%, further widening the gap between the top 1% and the bottom 99%. [ 16 ] [ 15 ] [ 17 ] According to PolitiFact and other sources, in 2011, the 400 wealthiest Americans had more wealth than half of all Americans combined.
Andrii Kondiuk/Alamy By Richard Valdmanis BOSTON -- The widening gap between America's wealthiest and its middle and lower classes is "unsustainable," but is unlikely to improve any time soon ...
In 2019, the Cato Institute's "Welfare, Work, and Wealth National Survey" concluded that an overwhelming majority of Americans believe the government to be incapable of fighting poverty and that existing welfare expenditures are insufficient or inefficiently distributed. 70% of respondents, across the political spectrum, perceive addressing the ...
The pay gaps across states partly reflect the differences in the jobs and industries within each state and the demographic differences in each state’s workforce. These are the top five states ...
The percentage share of total income owned by the top 1% fell to 16% during the post-9/11 recession but then re-rose to its 1998 level by 2008. In 2008, the wealth gap in terms of percentage of total income in the United States between the top 1% and 5% was 7% and the gap between the top 1% and top 10% was 9%.