Tag: Income Inequality

By Harold Brown You know poverty is losing ground when the rhetoric changes to “income inequality.” Over the past 10 years, The New York Times used this phrase as much as in its previous history. Income inequality is universal and eternal. It goes along with initiative inequality and all other sorts: educational, mental, psychological and physical. If equality were real in any social measure, the first goal would be exceptions – new classes. Humans are a classifying species; classifying people, houses, clothes, hairstyles, even physiques, and surely incomes. Classification both codifies inequality and encourages it. And governments are the primary instigators. Government needs to know how many people are in this category or that so it can “fix” inequalities. It… View Article

The Poor Are Not Getting Poorer

The rich may be getting richer, but the poor are definitely not getting poorer. In fact, most Americans got richer over the last 35 years. President Obama likes to stress that income inequality has increased in the United States, but it is hardly “the defining challenge of our time,” as he has called it, says Ronald Bailey, a science correspondent for Reason Magazine. Brookings Institution economist Gary Burtless used data from a December 2013 Congressional Budget Office (CBO) study to show that from 1979 to 2010 (this was the last year with available data) the bottom quintile’s after-tax income in constant dollars rose by 49 percent. For the second lowest, middle and fourth quintile, those incomes increased by a respective… View Article

Upward Mobility Has Not Declined

A new study finds that the odds of moving up the income ladder are the same today as they were 20 years ago, says the New York Times. The findings contradict widespread claims that a person’s chance for upward mobility is lower today than in the past. The study also examined another report by researchers who had observed children born between 1952 and 1975. Combining those results indicates that intergenerational mobility rates have been steady for the last 50 years. Absolute mobility — the measure of a person’s income compared to his parents’ — has also improved in recent years. Median family income is close to 12 percent higher today than it was in 1980, meaning that most adults… View Article

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U.S. Representative Johnny Isakson more quotes