{"id":773,"date":"2015-07-11T20:14:17","date_gmt":"2015-07-12T00:14:17","guid":{"rendered":"https:\/\/njfac.wordpress.com\/?page_id=773"},"modified":"2024-02-11T12:04:08","modified_gmt":"2024-02-11T17:04:08","slug":"income-inequality-2","status":"publish","type":"page","link":"https:\/\/njfac.org\/index.php\/income-inequality-2\/","title":{"rendered":"Income Inequality"},"content":{"rendered":"

Major Causes: Unemployment, Low Wages, and Disproportionate Rewards for the Few<\/strong><\/p>\n

The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.\u00a0 \u00a0—\u00a0<\/em>Franklin Roosevelt, Second Inaugural Address<\/a>, January 1937. “Put simply, at least half and possibly more of your income is determined by where you live, which for 96 per cent of people in the world is where they were born. Then, about 20 per cent is due to the income level of your parents. So, your citizenship plus your parental background explain around 70-80 per cent of your income. Obviously, if I had data for gender, race, ethnicity and other things that are similarly \u2018given\u2019 to an individual at birth, that percentage would go up.” Milanovic, Forbes 3\/18<\/a><\/p>\n

Income Inequality: growing.<\/strong><\/a> Income Inequality<\/a> <\/strong>Wage Inequality<\/a> Racial Income Inequality<\/a>\u00a0CEO-Worker Pay Gaps<\/a><\/p>\n

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Source: https:\/\/www.epi.org\/multimedia\/unequal-states-of-america\/<\/a><\/p>\n

And inequality has only worsened: Top 1% share 2015, Q2:31.1%; share Q1 2022: 41.9%<\/p>\n