Income Distribution

This tag is associated with 17 posts

The Distribution of Household Income in US – 3 Graphs by CBO

The Distribution of Household Income, Federal Taxes, and Government Spending | Congressional Budget Office.

OK – Old displace young on income ladder

When I was a kid old people weren’t very well off. The words poor and pensioner often went together. I remember a poster (presumably by one of the age charities) which I used to pass on the way to my swimming lesson. It said something like, “Poverty and loneliness, the punishment for old age.” That would have … Continue reading

Income Distribution in US – Estimates of the share of non-managerial workers in all industries since 1964 (Chart)

The statistical image that emerges from these numbers is neither Piketty’s vision of rising returns to “capital” as such, nor Krugman’s picture of an increase in returns to managerial “labor.” Rather, we see the burgeoning of a general surplus: an excess of national income over and above what’s needed to pay the nation’s non-managerial workers, … Continue reading

Human capital doesn’t alone reduces income inequality research finds

Most developing countries have made a great effort to eradicate illiteracy. As a result, the inequality in the distribution of education has been reduced by more than half from 1950 to 2010. However, inequality in the distribution of income has hardly changed. This column presents evidence from a new dataset on human capital inequality. The … Continue reading

IMF – There is growing evidence that high income inequality can be detrimental to achieving macroeconomic stability and growth

Income inequality has increased in both advanced and developing economies in recent decades. Increasing inequality has been attributed to a range of factors, including the globalization and liberalization of factor and product markets; skill-biased technological change; increases in labor force participation by low-skilled workers; declining top marginal income tax rates; increasing bargaining power of high … Continue reading

Top 1% Earners / In What Field Do They Majored In ?

According to the Census Bureau’s 2010 American Community Survey, the majors that give you the best chance of reaching the 1 percent are pre-med, economics, biochemistry, zoology and, yes, biology, in that order. Below is a chart showing the majors most likely to get into the 1 percent (excluding majors held by fewer than 50,000 … Continue reading

World / Absolute Poverty decreases from 44% to 23% over 20 years

What parts of the global income distribution registered the largest gains between 1988 and 2008? As figure below shows, it is indeed among the very top of the income distribution and among the emerging global middle class, which includes more than a third of the world’s population, that we find most significant increases in per … Continue reading

US / In 2011, the top 5% households accounted for 22.3% of total income, and the top 20% had 51.5%

“Although not itself a subject of legislation, the shape of the income distribution enters Congress’s decision-making process concerning such policy issues as taxes, means-tested benefits, and social insurance programs. Congress also considers legislation specifically in the name of those in the middle class, which is variously defined as some income level or income range within … Continue reading

The One Percent – Plutocracy Rising

The One Percent is not only increasing their share of wealth — they’re using it to spread millions among political candidates who serve their interests. Example: Goldman Sachs, which gave more money than any other major American corporation to Barack Obama in 2008, is switching alliances this year; their employees have given $900,000 both to … Continue reading

Inequalities in America – 288 times richer

The wealth gap between the richest Americans and the typical family more than doubled over the past 50 years. In 1962, the top 1% had 125 times the net worth of the median household. That shot up to 288 times by 2010, according to a new report by the left-leaning Economic Policy Institute. That trend … Continue reading

UK – Executive pays at £3m average

While many struggle to keep afloat during the recession, Britain’s top chief executives are enjoying an average £3million salary. FTSE 100 bosses have seen their salary soar by 8.5 per cent in 2011 – whereas the national pay average rose by just 1.6 per cent, barely half the rate of inflation. The brutal economic climate … Continue reading

The American Dream – Economic Mobility Across Generations – There is stickiness at the ends of the wealth ladder

Pursuing the American Dream uses the most current available data to measure mobility by family income and wealth, and personal earnings to reveal how closely tied a person’s place on the economic ladder is to that of his or her parents’. Some of the highlights of the research include: Eighty-four percent of Americans have higher … Continue reading

Inequality in America and the Incomes of the Super Rich – Brookings Institution

Question: where would the richest household in the bottom 98 percent-the one at the “98th percentile”-end up? With $350,000, it only would be on the 93rd floor-three-fifths of the way up the building, and 67 floors below the household at the 99th percentile. The household at the 90th percentile would only be on the 35th … Continue reading

The Academic Achievement Gap is Widening

The socioeconomic status of a child’s parents has always been one of the strongest predictors of the child’s academic achievement and educational attainment… Students in the bottom quintile of family socioeconomic status score more than a standard deviation below those in the top quintile on standardized tests of math and reading when they enter kindergarten… These differences … Continue reading

U.S. | The top 1 percent got 93% of income growth

93 percent of income growth went to the wealthiest 1 percent of American households, while everyone else divvied up the 7 percent that was left over according to Emmanuel Saez. Main Findings Source: “Figure 1 presents the income share of the top decile from 1917 to 2010 in the United States. In 2010, the top … Continue reading

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