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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]
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.
The Economic Policy Institute (EPI) estimated that greater income inequality added 5.5% to the poverty rate between 1979 and 2007, other factors equal. Income inequality was the largest driver of the change in the poverty rate, with economic growth, family structure, education and race other important factors.
Countries' income inequality as of 2018 according to their Gini coefficients [11] World map indicating the Human Development Index in 2015. Quantitative measurement of the impact of welfare programs on poverty provides different estimates depending on the study design and available dataset.
Poverty can have diverse environmental, legal, social, economic, and political causes and effects. [1] When evaluating poverty in statistics or economics there are two main measures: absolute poverty which compares income against the amount needed to meet basic personal needs, such as food, clothing, and shelter; [2] secondly, relative poverty ...
For example, a low-income state like Mississippi — where the median income for an individual is the lowest in the country at $47,446 — also has the highest rate of persistent poverty at 24.4% ...
Economic inequality describes the uneven distribution of wealth, income, resources and opportunity to different groups of people in a society -- something America knows plenty about. The last...
The pandemic induced a significant economic toll on Americans, per a recent report, which indicated income inequality increased by 1.2% — as measured by the so-called Gini index — between 2020 ...