The (very) few places with no black-white income gap, By Tim Henderson, November 10, 2016, Stateline: “The income gap between black and white households has grown since 2000 and only worsened since the recession. In 2015, the median income for black households was 59.5 percent of that for whites, or $36,544 to $61,394. That’s a greater gap than at the end of the recession in 2009, when black income was 61.2 percent of white income. Yet, a tiny number of places exist where black household income is greater than that of whites. Of the 364 large U.S. counties whose populations are at least 5 percent black, there are seven, according to a Stateline analysis of U.S. Census Bureau American Community Survey data for 2010-14…”
Tag: Economic inequality
Inequality and the Education System
A simple equation: more education = more income, By Eduardo Porter, September 10, 2014, New York Times: “Imagine if the United States government taxed the nation’s one-percenters so that their post-tax share of the nation’s income remained at 10 percent, roughly where it was in 1979. If the excess money were distributed equally among the rest of the population, in 2012 every family below that very top tier would have gotten a $7,105 check. This is hardly trivial money. But it pales compared to the gap between the wages of a family of two college graduates and a family of high school graduates. Between 1979 and 2012, that gap grew by some $30,000, after inflation…”
Wage Inequality – OECD
OECD: Wage inequality will only get worse from now through 2060, By Mamta Badkar, July 2, 2014, Business Insider: Global wage inequality is expected rise, and economic growth is expected to slow, between now and 2060, according to a new report form the OECD. The report points out that widening earnings gap, ‘rising capital incomes (which tend to be highly concentrated), less redistributive tax and benefit systems, and changing household formation patterns,’ have all contributed to rising inequality in recent decades. ‘Rising inequalities threaten growth, most notably by blocking economic opportunities,’ according to the press release. The OECD projects that earnings inequality could grow between 17-40% by 2060. . .”