income gap – News Stories About income gap - Page 2

Paycheck Data Dismal in 2010

OPINION

Oct 20, 2011 2:26 PM CDT

Paycheck Data Dismal in 2010

...Unless you were a millionaire

(Newser) - The Social Security Administration quietly released payroll data for 2010 yesterday, and they were “in a word, awful,” writes David Cay Johnston at Reuters —assuming you’re not a millionaire, that is. The number of people making at least $1 million rose by 20%, jumping from 78,...

Wealth Gap Between Whites, Minorities Widest in 25 Years

Jul 26, 2011 7:51 AM CDT

Wealth Gap Between Whites, Minorities Widest in 25 Years

Census data show ratio is 20 to 1 between whites, blacks

(Newser) - Thanks to the recession, the wealth gap between whites and minorities is at its widest level in 25 years. Census data show that the median wealth of white US households was $113,149 in 2009: That's 20 times that of black households ($5,677) and 18 times that of...

Executive Grandeur Fuels
the Growing Income Gap

landmark analysis

Jun 19, 2011 1:36 PM CDT

Executive Grandeur Fuels the Growing Income Gap

Execs represent a bigger share of top incomes than thought

(Newser) - Explaining the growing income gap in terms of percentages is easy. But things get murkier when it comes to defining who makes up that top .1% of earners who pull in a whopping 10% of the country's personal income. Or they did. Writing for the Washington Post , Peter Whoriskey...

Millionaires Have 39%
of the World’s Money

Jun 1, 2011 4:40 PM CDT

Millionaires Have 39% of the World’s Money

Less than 1% of the world's population controls almost half of the money

(Newser) - If you're wondering where all your money has gone, odds are a millionaire added it to his or her pile. Although millionaires make up just 0.9% of the world's population, they control 39% of its wealth—up 2% since 2009—according to a report by Boston Consulting...

Dear Top 1%:
Payback Is a ...

OPINION

Apr 6, 2011 1:55 PM CDT

Dear Top 1%: Payback Is a ...

Richies are going to regret shafting everyone else: Stiglitz

(Newser) - Revolution is raging in the Middle East, in societies that all have one thing in common: 1% or less of their population controls the lion’s share of the wealth. “As we gaze out at the popular fervor in the streets, one question to ask ourselves is this: When...

US Is Worse Than
Banana Republics

Nicholas Kristof

Nov 18, 2010 12:59 PM CST

US Is Worse Than Banana Republics

Yet somehow we need to give the rich tax breaks?

(Newser) - It’s tempting to say that the US now has a banana republic-level income inequality, but that’s not fair—to banana republics. “The truth is that Latin America has matured and become more equal,” writes Nicholas Kristof of the New York Times , even as the US has...

Quit Waffling,
Obama, and
Stand Up to
Bazillionaires

Frank Rich

Nov 14, 2010 7:29 AM CST

Quit Waffling, Obama, and Stand Up to Bazillionaires

The mega-rich are sucking America dry, pay less taxes than ever

(Newser) - The electorate may have little love for wealthy, would-be politicians like Meg Whitman, John Raese, and Linda McMahon, writes Frank Rich for the New York Times . But maybe they should: Whitman and Co. were at least trying to give back, unlike most obscenely wealthy folk. The top 1% of American...

Growing
Income Gap
Is Killing US

Steven Pearlstein

Oct 6, 2010 1:57 PM CDT

Growing Income Gap Is Killing US

Steven Pearlstein: If all the spoils go to the few, it has real economic consequences

(Newser) - Plenty of time and space has been and will be devoted to figuring out why the income gap between the rich and poor has gotten so big in the US, writes Steven Pearlstein. Today, though, he focuses on the very real consequences: "Runaway inequality," he writes, "undermines...

Census Finds Record Gap Between Rich and Poor

Sep 28, 2010 6:48 AM CDT

Census Finds Record Gap Between Rich and Poor

Young people hit hardest

(Newser) - The income gap between the richest and poorest Americans grew last year to its widest amount on record as young adults and children in particular struggled to stay afloat in the recession. The top-earning 20% of Americans—those making more than $100,000 each year—received 49.4% of all...

With Health Bill, Obama Ends the 'Age of Reagan'

Analysis

Mar 24, 2010 6:56 AM CDT

With Health Bill, Obama Ends the 'Age of Reagan'

Marks biggest assault on wealth inequality since the '80s

(Newser) - The health care reform bill was the government’s biggest attack on economic inequality in more than 30 years, a period of time that’s seen government policy and market forces consistently push the opposite direction. That’s why Barack Obama fought so hard for it, writes David Leonhardt for...

Women's Workplace Gains
Likely to Outlast Recession

ANALYSIS

Sep 28, 2009 5:54 PM CDT

Women's Workplace Gains Likely to Outlast Recession

Long-term employment stats bound to reflect better academic performance

(Newser) - The recession has been kinder to women than to men, and the reason is well documented: the most affected industries are those with lots of male employees, like manufacturing and construction. But another factor is driving a more permanent change, writes Greg Burns: Overall, women earn more college degrees. By...

Young Grow Poorer While Old Get Richer

Sep 18, 2009 12:49 PM CDT

Young Grow Poorer While Old Get Richer

Recession socks Americans born after 1955

(Newser) - Young and middle-aged people, particularly men, saw their incomes plummet from 2000 to 2008, leaving many age groups at 30-year nadirs, new Census data show. The recession has exacerbated the problem, widening the gap between young and old at an unprecedented rate, USA Today reports. Worst hit were those in...

For Once, Super-Rich
Not Getting Richer

Aug 21, 2009 9:25 AM CDT

For Once, Super-Rich Not Getting Richer

Recession halts 30-year rise of the super-wealthy

(Newser) - Since the 1970s, the rich have been getting richer with stunning consistency, but now, thanks to the recession, that decades-long run has hit a wall, the New York Times reports. Wall Street pay is indeed returning to normal, but for every investment banker who’s benefiting from that, several more...

'Radical' Budget Aims to Shrink Income Gap

ANALYSIS

Feb 27, 2009 11:35 AM CST

'Radical' Budget Aims to Shrink Income Gap

Overhauling tax code, Obama's plans would reverse 30-year trend

(Newser) - Barack Obama's first budget is, above all, an attempt to shrink the gap between rich and poor that has grown rapidly for 30 years, writes David Leonhardt of the New York Times. The "bold, even radical" budget hikes taxes on the rich while dropping them to their lowest point...