Why does it matter if the rich are getting richer and the poor poorer? Not only is greater inequality a threat to our democratic capitalist society, it’s bad for the economy and causes a whole host of other problems—including other items on the president’s list. Dealing with the problem of inequality will actually make America great, rather than simply irate.
The Pew Research Center determined in June that white homes possess roughly 13 times the wealth of their black counterparts. Analysis of federal government data also determined that black people in the United States are at least two times as likely as white people to be poor or unemployed.
A new report from the Economic Policy Institute highlights the widening earnings gap between minimum-wage workers and restaurant CEOs. According to the EPI, a full-time employee making minimum wage will earn $15,080 — below the 2013 and 2014 federal poverty lines for a two-person household — over the course of a full year. Compare that […]
A new report by the Economic Policy Institute (EPI) provides further evidence that the serious problem of growing income inequality in the United States has worsened in recent years. According to the report, income in the nation grew 36.9 percent between 1979 and 2007, but 53.9 percent of that growth was shared among the top […]
By now, you’ve surely heard of the Texas drunken-driving case that has sparked national outrage — angering victims, upsetting psychologists and sending Twitter into overdrive. A 16-year-old who killed four people while intoxicated was sentenced to 10 years’ probation and treatment in a tony rehab facility. As unusual as that example of mercy may be, […]
To solve our economic woes, it turns out the government should focus less on free trade and debt and more on alleviating income inequality: A new study — by the IMF, no less — found that countries with more equally distributed income tended to have longer growth spells. This information, in light of a rapidly […]
WASHINGTON (AP) — The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census […]