Download Income and Wealth (Greenwood Guides to Business and by Alan Reynolds PDF

By Alan Reynolds

Why a few everyone is wealthy and others bad may be defined in a couple of methods. source of revenue and Wealth specializes in who will get what and why. It explains the dynamics of source of revenue new release, the way it is measured, and the way such dramatic disparities in distribution happen. The publication first defines quite a few features of source of revenue, with an emphasis at the hole among the wealthy and the negative, and reports numerous theories to give an explanation for the disparities. next chapters talk about such well timed issues because the vanishing center classification and the sky-high salaries of CEOs, Hollywood stars, and athletes. the ultimate chapters reflect on the results of regulations, similar to the minimal salary, taxes, immigration, and alternate quotas, and extend the dialogue to think about overseas comparisons. that includes graphs and charts, a word list of keywords, and an inventory of references and assets, source of revenue and Wealth explains the problematic, and sometimes debatable, results of monetary guidelines on members, households, and groups. in addition, it indicates how the numbers may be manipulated by way of policymakers, pundits, reporters, and teachers to advertise numerous agendas—and indicates readers how one can realize hyberbole and make better-informed judgements.

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Additional info for Income and Wealth (Greenwood Guides to Business and Economics)

Sample text

Most income in the bottom fifth is from government transfer payments. Some transfer payments are received in kind (Medicaid, food stamps, housing, and energy assistance) and some, in cash (Social Security, Supplemental Security Income, Temporary Assistance to Needy Families, the Earned Income Tax Credit, and disability and unemployment benefits). Income from work invariably rises faster than inflation in the long run. That is what we mean by an increase in real wages, which, in turn, is the main 26 Income and Wealth reason average real incomes normally rise from one decade to the next.

01 percent received more than 3 percent of all income. ’’31 Piketty and Saez estimates do not refer to either families or households; they refer to tax units. Another obvious problem with income data for ‘‘tax units’’ is that not everyone reports all their income. 32 A later chapter about ‘‘the top 1 percent’’ explains why all of these tax-based estimates of income distribution are misleading. S. economy. It is difficult to imagine how so many learned people came to believe that 80 or 90 percent of the American people had experienced virtually no increase in real incomes for 25–30 years.

Average money income in the bottom fifth consisted of that $2,834 of income from work and savings, 28 Income and Wealth plus $6,498 from non-means-tested cash benefits (mostly Social Security and disability); plus $850 from means-tested cash benefits such as Supplemental Security Income (SSI) and Temporary Assistance to Needy Families (TANF); plus $154 from the Earned Income Tax Credit (EITC). All of that added up to $10,336—slightly higher than the official measure, which excludes the EITC among other differences.

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