Archive for June, 2012

Inequality in the USA…?

Saturday, June 30th, 2012

“The poor you will always have with you, but you will not always have me.”
~Matthew 26:11~

Alas, those were the words of Jesus and not reflect the redistributive instincts of government officials!
In terms of the most important measure of inequality, consumption/expenditures, there has NOT been an explosive increase in inequality in the USA.

Households in the top income quintile (top 20%) accounted for 37% of total consumption spending while households in the bottom quintile accounted for 10% of total spending in 1984.

As such, the ratio of top-to-bottom consumption was about 3.8 & increased to 4.4 in 2010.