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The pattern of distribution of growth appears to be the result of a whole host of policies, including not only the distribution of taxes and benefits but also the government's stance toward unions, whether the minimum wage rises, the extent to which the government frets about inflation versus too-high interest rates, etc., etc. [143]
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.
Global share of wealth by wealth group, Credit Suisse, 2021 Share of income of the top 1% for selected developed countries, 1975 to 2015. 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 ...
The plot shows the increase in the relative gains of those above the median versus those below the median with the largest gains for those in the highest percentile. Finally, in 2023 the disproportionate rise of the top earners feel (red line). In economics, income distribution covers how a country's total GDP is distributed amongst its ...
The difference between the Theil index and the Hoover index is the weighting of the relative deviation D. For the Hoover index the relative deviation D per group is weighted with its own sign. For the Theil index the relative deviation D per group is weighted with the information size provided by the income per individual in that group.
Penn State trustees voted 26-6 on Friday to approve a proposal that would create a 2.5% general salary increase for university employees. The pay bump, retroactive to July 1, will take effect ...
Using statistics from 23 developed countries and the 50 states of the US, British researchers Richard G. Wilkinson and Kate Pickett show a correlation between income inequality and higher rates of health and social problems (obesity, mental illness, homicides, teenage births, incarceration, child conflict, drug use), and lower rates of social ...
If the federal taxation rate is compared with the wealth distribution rate, the net wealth (not only income but also including real estate, cars, house, stocks, etc.) distribution of the United States does almost coincide with the share of income tax - the top 1% pay 36.9% of federal tax (wealth 32.7%), the top 5% pay 57.1% (wealth 57.2%), top ...