Search results
Results From The WOW.Com Content Network
The report concludes that the American economy's radical inequality is hindering economic growth, as the benefits are mainly enjoyed by those at the top, while the majority, responsible for the bulk of consumer spending which constitutes 67% of GDP, are left behind. [117]
The work of Emmanuel Saez, for example, has concerned the role of American tax policy in aggregating wealth into the richest households in recent years while Thomas Sowell and Gary Becker maintain that education, globalization, and market forces are the root causes of income and overall economic inequality.
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 ...
Most Americans believe there is too much economic inequality in America, ... researchers found that the government could raise $1.8 trillion over a decade by restoring the higher tax rates of 1997.
Economic inequality risks creating social discontent, which can boil over into political conflict, according to Zia Qureshi, a Senior Fellow at the Brookings Institution.
According to EIG, which uses US Census Bureau data to sort districts by economic well-being, roughly 52 million Americans live in a "distressed" zip code. That's up from 50 million in 2018 .
In the framework of American federalism, states generally have wide latitude to enact policies within their borders, including state taxation and labor laws.Among the factors that may increase inequality in a state are regressive state tax policies [2] (taxation has played a growing role in diminishing inequality since the 1980s), [3] tax incentives for large companies, [4] corruption, [5 ...
Much of the reason that economic inequality is so stark in modern America is wage stagnation. The federal minimum wage has been $7.25 an hour since 2009, the longest Congress has ever let it erode ...