Cato on income inequality
-
https://www.cato.org/study/myth-american-income-inequality
The Census Bureau does not count two‐thirds of government subsidies to households (called transfer payments) as income or any taxes taken as reductions to income, so, it overstates both income inequality and poverty. Counting all subsidies and taxes shows that income inequality is far less than claimed and continuing to fall.
These overstatements have justified higher subsidies to lower‐income households, that in turn have caused twice as many work‐age adults in lower‐income households to stop working.
By not counting two‐thirds of all transfer payments as income to the recipients of the transfers and not counting taxes paid as income lost to taxpayers, government statistics dramatically overstate income inequality.
Income inequality is lower today than it was three‐quarters of a century ago. The facts reveal a very different and better America than the one currently described in debates across much of the political spectrum.
-
This one struck me:
"Today, most people are economically as prosperous as many people in the top 20 percent were 50 years ago."
In terms of living standard, I think this is true.
-
This one struck me:
"Today, most people are economically as prosperous as many people in the top 20 percent were 50 years ago."
In terms of living standard, I think this is true.
-
I read this as "Canto on Income Inequality" and got excited.
️Please love yourself.
-
I read this as "Canto on Income Inequality" and got excited.
️@Aqua-Letifer said in Cato on income inequality:
I read this as "Canto on Income Inequality" and got excited.
Fucking literature majors!
-
I read this as "Canto on Income Inequality" and got excited.
️@Aqua-Letifer said in Cato on income inequality:
I read this as "Canto on Income Inequality" and got excited.
️Well, now you have a challenge before you. You don’t have anything better to do, right?
-
@Aqua-Letifer said in Cato on income inequality:
I read this as "Canto on Income Inequality" and got excited.
️Well, now you have a challenge before you. You don’t have anything better to do, right?
@LuFins-Dad said in Cato on income inequality:
@Aqua-Letifer said in Cato on income inequality:
I read this as "Canto on Income Inequality" and got excited.
️Well, now you have a challenge before you. You don’t have anything better to do, right?
I'm already working on some Robin Hood ballad translations.
Yes, fucking really.
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login