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While progress in wage inequality for blacks has been made since the passage of the 1964 Civil Rights Acts, inequality and discrimination still exist. A study conducted by Major G. Coleman (2003) reports that as black and white men have more similar competitive performance ratings, racial wage differences increase rather than decrease.
Capital gains are excluded for purely practical reasons. The Census doesn't ask about them, so they can't be included in inequality statistics. Obviously, the rich earn much more from investments than the poor. As a result, real levels of income inequality in America are much higher than the official Census Bureau figures would suggest.
While pre-tax income is the primary driver of income inequality, the less progressive tax code further increased the share of after-tax income going to the highest income groups. For example, had these tax changes not occurred, the after-tax income share of the top 0.1% would have been approximately 4.5% in 2000 instead of the 7.3% actual figure.
Let's start by saying there will be lots of opinions about income disparity in America and what, if anything, it means. What I'm offering up below comes from Richard Wilkinson -- a retired ...
Much of the reason that economic inequality is so stark in modern America is wage stagnation. The federal minimum wage has been $7.25 an hour since 2009, the longest Congress has ever let it erode ...
Many causes relate to racial inequality such as: Years of home ownership, household income, unemployment, education, lack of upward mobility, and inheritance. [1] In 1863, two years prior to emancipation, Black people owned 0.5 percent of the national wealth, while in 2019 it is just over 1.5 percent. [2]
Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]
Exacerbating inequality: Oxfam, in a report compiled using publicly available data, argued that the largest US firms have also reinforced gender and racial inequality in the workplace by ...