This tag is associated with 57 posts

China / The Rumored Middle Class

Rumors of a rising Chinese middle class have been touted widely. However, the evidence supporting these claims remains conflicting at best. The “middle-class” jobs outsourced from the United States have not necessarily translated to “middle-class” jobs in developing nations, especially in China. Defining the middle class has always been a difficult venture, but on several … Continue reading

US / The Rising Age Gap: The Old vs the Young

Households headed by older adults have made dramatic gains relative to those headed by younger adults in their economic well-being over the past quarter of a century, according to a new Pew Research Center analysis of a wide array of government data. In 2009, households headed by adults ages 65 and older possessed 42% more … Continue reading

Income inequality: US vs the Roman Empire

Since too much inequality can foment revolt and instability, the CIA regularly updates statistics on income distribution for countries around the world, including the U.S. Between 1997 and 2007, inequality in the U.S. grew by almost 10 percent, making it more unequal than Russia, infamous for its powerful oligarchs. The U.S. is not faring well … Continue reading

Inequality on the rise in most OECD countries

“In the three decades prior to the recent economic downturn, wage gaps widened and household income inequality increased in a large majority of OECD countries. This occurred even when countries were going through a period of sustained economic and employment growth” writes the OECD in its 2011 report An Overview of Growing Income Inequalities in OECD Countries. … Continue reading

France / Court rejects 75 percent tax on millionaires

France’s Constitutional Council on Saturday rejected a 75 percent upper income tax rate to be introduced in 2013 in a setback to Socialist President Francois Hollande’s push to make the rich contribute more to cutting the public deficit. The Council ruled that the planned 75 percent tax on annual income above 1 million euros ($1.32 … Continue reading

The academic arms race: to educate everyone at the level of the elite in the past

The good jobs that do exist increasingly require higher education: Since the recession started in the U.S. in 2007, the number of jobs needing a college degree has risen by 2.2 million, according to a recent Georgetown University study. The number of jobs for mere high-school graduates fell by 5.8 million. Just to stay even, … Continue reading

Gender Gap / Equal Education but Unequal Pay / Infographics from LearnStuff

Check out the infographic below to see the gender wage gap affects. via Equal Education Unequal Pay | LearnStuff.

UK / Top 10% of households are 850 times wealthier than the bottom (video)

Key findings The wealthiest tenth of households owned more than 40% of overall wealth and were over 850 times wealthier than the least wealthy tenth of households A household required total wealth greater than £967,000 to belong to the wealthiest 10% of the distribution The south-east of England had the highest percentage of ‘wealthy’ households … Continue reading

The Inequality Challenge

High levels of inequality have become a subject of intense debate, particularly in the United States, where inequality has risen sharply over the past 30 years. The rise in inequality in most advanced countries and in many developing countries should be analyzed in the context of other big changes that have affected the global economy … 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

US | Wealthy | Would a tax hike cost 700,000 jobs ?

Rep. Pete Sessions, however, went further, and actually claimed hundreds of thousands of people would lose their jobs if Obama’s proposed tax increase went into effect. What’s the math behind his claim? The Facts According to an aide, Sessions obtained his figure from a study prepared last year by two economists at Ernst & Young for … Continue reading

Inequality – Focus sould be on restoring America’s place in public education

Income inequality has been rising in the US for almost four decades. President Obama plans to increase taxes on those with high incomes while Governor Romney is against such “class warfare”. John Van Reenen argues that a better focus would be on restoring America’s place as a world leader in public education and thereby tackling … Continue reading

US – Sandy Reveals Hideous Inequalities

A hotel bellman said he was worried about his mother uptown. A maid said she had been calling her family in Queens. A garage attendant said he hadn’t been able to contact his only relative – a sister in New Jersey – since the storm hit. Asked where he weathered the hurricane, his answer was … 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

US – The Great Recession Was Worst on the Poor

The Great Recession hit all of us, but it didn’t hit all of us equally. It turns out the more you had to lose, the less you lost. The chart below from Amir Sufi, a professor of finance at the University of Chicago Booth School of Business, shows us this depressing story in three graphs. … Continue reading

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