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A Guide to Statistics on Historical Trends in Income Inequality
Gwad
Member Posts: 2,855
in Tug Tavern
https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality
The broad facts of income inequality over the past six decades are easily summarized:
The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity.
Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted terms between the late 1940s and early 1970s.
The income gap between those high up the income ladder and those on the middle and lower rungs — while substantial — did not change much during this period.
Beginning in the 1970s, economic growth slowed and the income gap widened.
Income growth for households in the middle and lower parts of the distribution slowed sharply, while incomes at the top continued to grow strongly.
The concentration of income at the very top of the distribution rose to levels last seen 90 years ago (during the “Roaring Twenties”).
Wealth — the value of a household’s property and financial assets, minus the value of its debts — is much more highly concentrated than income. The best survey data show that the share of wealth held by the top 1 percent rose from just under 30 percent in 1989 to nearly 39 percent in 2016, while the share held by the bottom 90 percent fell from just over 33 percent to less than 23 percent over the same period.
The broad facts of income inequality over the past six decades are easily summarized:
The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity.
Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted terms between the late 1940s and early 1970s.
The income gap between those high up the income ladder and those on the middle and lower rungs — while substantial — did not change much during this period.
Beginning in the 1970s, economic growth slowed and the income gap widened.
Income growth for households in the middle and lower parts of the distribution slowed sharply, while incomes at the top continued to grow strongly.
The concentration of income at the very top of the distribution rose to levels last seen 90 years ago (during the “Roaring Twenties”).
Wealth — the value of a household’s property and financial assets, minus the value of its debts — is much more highly concentrated than income. The best survey data show that the share of wealth held by the top 1 percent rose from just under 30 percent in 1989 to nearly 39 percent in 2016, while the share held by the bottom 90 percent fell from just over 33 percent to less than 23 percent over the same period.
Comments
I'd ask what your solution is but you don't have one
You prefer to be ignorant? Good to know
Bill Gates being worth billions didn't come at my expense. What he developed has made my life easier
We actually did the flooring at his early office. At night. And he was roaming the halls
Most people don't want to work 24/7. I didn't. The rich people I worked for did
There is no socialist or communist system ever that made as many people rich or comfortable middle as America
Simply an indisputable fact
So stop worrying and get your ass to work kids. Stop buying into bullshit like climate change. Embrace progress and cheap energy
Don't give up
The people that claim to care the most pursue the most damaging policies to Joe
2- Graduate HS
3- Get job
4- Get married
Follow these 4 easy steps and your odds of living in poverty are less than 3%.
#itshard
#itsaprocess