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Although some spoke out in favor of moderate inequality as a form of incentive, [296] [297] others warned against excessive levels of inequality, including Robert J. Shiller, (who called rising economic inequality "the most important problem that we are facing now today"), [298] former Federal Reserve Board chairman Alan Greenspan, ("This is ...
The new report on wealth inequality comes from the nonpartisan Congressional Budget Office. America's top 10% controls 60% of the wealth. The bottom half holds 6%.
Inequality fuels social unrest. Economic inequality risks creating social discontent, which can boil over into political conflict, according to Zia Qureshi, a Senior Fellow at the Brookings ...
Economic inequality in the United States has been steadily increasing since the 1980s as well and economists such as Paul Krugman, Joseph Stiglitz, and Peter Orszag, politicians like Barack Obama and Paul Ryan, and media entities have engaged in debates and accusations over the role of tax policy changes in perpetuating economic inequality.
For much of the past decade, policymakers and analysts have decried America's incredibly low savings rate, noting that U.S. households save a fraction of the money of the rest of the world.
A September 2014 report by the Economic Policy Institute claims wage theft is also responsible for exacerbating income inequality: "Survey evidence suggests that wage theft is widespread and costs workers billions of dollars a year, a transfer from low-income employees to business owners that worsens income inequality, hurts workers and their ...
Black Americans continue to earn less and have poorer health than white Americans, according to latest Goldman Sachs report.
Government statistical reports exclude “noncash” sources of income, which excludes most transfers from social programs. Taxes (paid disproportionately by high earners) are also ignored in official calculations. [3] and Real income of the bottom quintile, the authors write, grew more than 681% from 1967 to 2017.