Economics; The Distribution of Income in America

Cape Echols

Mr. Roddy 

IHSS

7 March 2021

https://docs.google.com/document/d/1lxsqcdK1jjuTWiiNd87FpRvFNNZHCXBfyuvtMwBaG60/edit


The Distribution of Income in America

The distribution of income has become an increasingly debated topic. There is no real black and white views on the topic. To what extent you believe the government should redistribute wealth is dependent on your values and political beliefs. The author of the article frank Levy views the term “income distribution” as a statistical concept. There would be no one person distributing wealth. The amount of distribution depends on the decisions people make about work, savings, and investments. People’s financial interactions with markets using the tax system affect wealth distribution. The distribution of income changed in the 1990’s and early 2000’s as people witnessed an expanding body of work which can be explained in three points.

Firstly, pretax wealth distribution in America is extremely unequal. Studies show that households whose income averages at about $200,000, or the top ten percent, received approximately forty-two percent of all pretax income during the late 1990’s. And the top one percent, whose household income averages at about $800,000, received approximately fifteen percent of all pretax money. Secondly, in the twentieth century the road to higher inequality in income distribution has been marked by two main events. The first is a prominent decline in distribution inequality around the beginning of World War II and an extended increase in inequality that started around the mid-1970s and accelerated around the 1980s. Income inequality today is nearly as substantial as it was back in the 1920s. Thirdly, Over the years, the amount of income a family receives varies, which means that the distribution of multi-year income is reasonably more equal than the distribution of single-year income is.


Levy, Frank. “Distribution of Income.” The Library of Economics and Liberty.

Comments

Post a Comment

Popular posts from this blog

Civil Rights Issues in Syria - Alex Gross

  Alex Gross Mr. Roddy IHSS 6 April 2021 Civil Rights in Syria Syria, the densely populated country in the Middle East which is home to over 17 million people is plagued with a plethora of different Civil Rights issues and violations. The issues in Syria range from unlawful killings and assassinations, to excessive deployment of government forces. There have also been hundreds of articles in the past few years surrounding the Syrian refugee issues, which says a lot about the status of corruption in the country. An article from the Atlantic Council that was published yesterday (April 5th, 2021) goes into detail about another aspect of the difficulties of life in Syria; the economic struggle. The citizens of Syria are forced by the government to pay ridiculous amounts of money to exit and enter the country, renew passports, and quarantine due to covid. In-turn, this causes the citizens to be less likely to leave the country, despite its many issues. This problem is exacerbated by ...
Read more

Arkansas' Anti-trans bill

  Isa Pedersen  Mr. Roddy  IHSS 9 April 2021 Arkansas’ Anti-trans bill  For centuries the trans community was discriminated against. But recently Arkansas passed a bill that highly affects trans rights and healthcare. The bill states that trans individuals are not allowed to get gender affirming surgeries. This included hormones such as testosterone and androgen, as well as puberty blockers. This is said to be one of the most detrimental bills passed against the trans community in ages. Not only this but some states have already passed bills that don't allow trans kids to take part in sports or competitions. These states include Arkansas, Tennessee, and Mississippi. Tennessee and Alabama are already starting to get the same bill passed. Texas is on the list that is assumed to follow Arkansas and pass the bill as well. Certain cities were able to make bills that heavily discriminate against the trans community, but states have never passed bills this big before. The...
Read more

Why Do We Keep Pets?

Katie Vojvodic  David Roddy  IHSS A  9/24/20  Why Do We Have Pets?      In millions of households across the United States, a few family members stick out among the furless, bipedal creatures we call humans. Whether it be a furry floof (like a poodle dog or tabby cat), an avian entity (like a parakeet or cockatoo), or a scaly creepy-crawler (like a gecko or bearded dragon), over 65% of Americans own pets. The question is, why? How did keeping domesticated animals in our homes become the norm? Thanks to my extensive research, we might finally have the answer to that pressing question.     According to an article by animalfreedom.org , one of the main reasons that people keep pets is for companionship. Some even go as far as to use the companionship they get from pets in place of a relationship with a partner or family member. It is true that dogs have been proven to be able to detect human emotion and provide comfort, so I am not surprised....
Read more