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And for the group of people in between the bottom 50% and top 1%—mostly the lower- and middle-income groups in North America and Europe—income growth has been either sluggish or flat." [16] The WIR 2018 shows that, "The gap between rich and poor has increased in nearly every region in the world over the past few decades."
The United States has forty million people living in poverty, and more than half of these people live in "extreme" or "absolute" poverty. Income inequality has increased in recent decades, and large tax cuts that disproportionately favor the very wealthy are predicted to further increase U.S. income inequality. [1]
Two decades from now America could turn into a rentier-dominated society even more unequal than Belle Époque Europe. [38] One study extended the superstar hypothesis to corporations, with firms that are more dominant in their industry (in some cases due to oligopoly or monopoly) paying their workers far more than the average in the industry.
As we take stock of 2021, the second year of a once-in-a-century pandemic was obviously a time of challenges: Relentless COVID-19, a delayed economic recovery, a whiff of inflation. Did we ...
More Republicans than Democrats identified fewer property regulations as an excellent or good reason for housing reforms, while more Democrats than Republicans chose reducing racial segregation as ...
In the framework of American federalism, states generally have wide latitude to enact policies within their borders, including state taxation and labor laws.Among the factors that may increase inequality in a state are regressive state tax policies [2] (taxation has played a growing role in diminishing inequality since the 1980s), [3] tax incentives for large companies, [4] corruption, [5 ...
However, America is more than GDP growth, the stock market or even the "idea" of self-government. It’s a physical place, with people who share common history, traditions, and culture.
An understanding of the earnings of black women has recently become recognized as an important area of research due to the role that black women traditionally have in terms of family income: black married couples typically have relied more on women's earnings than other races and the percentage of single-parent, female-maintained families is ...