Inequality

In its annual poverty report, the Census includes a table that few take note of which actually details by how much families are below the poverty line. In 2012, the number was $175.3 billion, 1% of GDP. That is how many dollars it would take to bring every person in the U.S. up to the poverty line...
09/30/2013
Data Byte
Scott Sumner has become famous in the internet world and elsewhere as monetarism’s most capable defender. Sumner has a lot of things to say, but one is illustrative for my purposes here. Sumner argues that advocates of fiscal stimulus often make the mistake in their arguments of...
09/26/2013
Blog
It’s their fifth strike in five months, but the workers of Good Jobs Nation didn’t seem the least bit tired this morning. Low-paid employees from the food courts of federal buildings, the gift shops of the Smithsonian, and others employed under federal contracts, concessions, and lease...
09/25/2013
Blog
Last week, the Census put out its annual income and poverty figures for 2012. The big news on the poverty front is that the percentage of Americans living in poverty is unchanged at 15 percent, which amounts to 46.5 million Americans. More than 1 in 5 kids under the age of 18 are in poverty...
09/23/2013
Blog
The more new data that comes out, the clearer the trend is: America’s middle class is in crisis. Median wages have been flat for decade or more,  even as productivity and corporate profits have soared. The quality of available jobs is declining, with a shift toward part-time and contingent...
09/20/2013
Blog
Harry Binswanger wrote a post over at Forbes that lit up the internet yesterday. In it, he claims that really it is the 99 percent, that should give back to the 1 percent, from whose teet we apparently all suckle. Needless to say, the argument that unfolds is a total train wreck. Binswanger’s...
09/18/2013
Blog
While this week’s inequality numbers have gotten a lot of attention, Paul Krugman points out an interesting corollary: not only are the top 10 percent taking home nearly half of the country's income, and the top 1 percent taking their largest share since 1928, but the top .01 percent have...
09/13/2013
Blog
The top one percent captured 95 percent of the income growth of the recovery. That’s just one depressing lowlight in Thomas Piketty and Emmanuel Saez' 2012 update on the fortunes of the top 1 percent.  Piketty and Saez' dataset, drawn from exclusive access to the IRS filings of the top 1...
09/10/2013
Blog
Graphic artist Nickolay Lamm's remapping of Manhattan's skyline based on net wealth. It’s a tired trope at this point, but there remains something remarkable about New York City’s richest resident serving as its most powerful mayor in recent history. New York serves as a microcosm for the...
08/21/2013
Blog
That's depressing. There's no end in sight to our era of rising inequality for the forseeable future, absent a big policy or economic shift. That's the big takeaway from a new Congressional Budget Office working paper that finds that under current policy and past income trends, income inequality...
06/04/2013
Blog
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