Is higher inequality the price America pays for faster growth? (America ranks as the most unequal big rich-world country)

Sharing is Caring!

Think about income inequality in America and some archetypes easily come to mind. Start with a rich corporate lawyer, earning above the roughly $1m annual income (before taxes and transfers) that places a household in the top 1% of earners. At the other end of the scale, in the bottom 20%, a single mother with a fast-food job might have an income of $25,000. Between them, a home with a mechanic and a part-time teaching assistant might have annual earnings of $80,000, around the median.

https://www.economist.com/special-report/2024/10/14/is-higher-inequality-the-price-america-pays-for-faster-growth

See also  Calif. workers are leaving in higher numbers, but they’re not all going to Texas
See also  Job market imploding?! The Fed is going to cut rates again next week while food price inflation rises and stock valuations remain at extreme levels. Gold is about to start making headlines again!

https://archive.is/Fqorh#selection-1075.0-1161.1

 

 

h/t Perfect_Alarm_2141