income inequality

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COVID-19 mortality linked to differences in trust and income inequality

Trust in public institutions is linked to fewer COVID-19 deaths, but trust and belonging to groups is associated with more deaths, according to a wide-ranging, McGill-led study of 30-day COVID-19 mortality rates in 84 countries. Greater economic inequality is also associated with COVID-19 mortality. The study led by McGill researchers published in Social Science & Medicine,

A $2.5 Trillion Question: What If Incomes Grew Like GDP Did?

Per capita GDP in the US grew 118 percent over the past 43 years. At the bottom 25th percentile, real income for full-time, full-year, prime age workers only rose 13.5 percent; at the top 99th percentile, it grew by 166 percent and the top 1 percent grew 322 percent. A new RAND Corporation study on

Income Inequality Is Killing Us

It’s easy to think of good healthcare as being the key to a long, healthy life. But socioeconomic circumstances often play a far bigger role in life expectancy than access to high-quality healthcare. Consider the strong relationship between socioeconomic circumstances and life expectancy in Norway, a place where healthcare access is universal. Let’s start with money. People

Infographic shows states with the highest and lowest income inequality

An infographic created with data from a 2018 Economic Policy Institute report ranks New York as the state with the greatest income disparity between the top 1% of earners and the remaining 99%. Parker | Waichman, LLP “Inequality Between The 1% And The 99% In The United States,” created by New York City-based law firm Parker Waichman

The price of inequality? Lost annual income of $42,000 for typical worker, study finds

Income inequality has given the rich a greater share of the economic spoils than middle- and low-income earners. That's resulted in a very real impact on the incomes of middle- and low-income households, with the typical full-time American worker now earning $42,000 less than they would have if inequality hadn't surged over the last four

Income inequality, and coronavirus’ economic fallout

Before the coronavirus pandemic struck, the Caldwell family of Kansas City was just making ends meet. Derrick was working as an electrician; Tiana was training office workers; and A.J. was looking forward to playing football after school. CBS News business analyst Jill Schlesinger asked Derrick, "If you go back to end of February, beginning of March, were

Hollowed Out: How Income Inequality is Tearing America Apart

Even before COVID-19, the United States was coming apart, as the gap between haves and have-nots grew and grew. That’s the central message of two recent reports from the Pew Research Center and the Brookings Institution. At the beginning of the year, before COVID-19 struck, the Pew Research Center found that while the overall economy had finally

Many around the world were pessimistic about inequality even before pandemic

The coronavirus outbreak stopped much of the world in its tracks in early 2020 and continues to cast doubt on the well-being of households and communities around the globe. But even before the pandemic, many people around the world felt pessimistic about income inequality, governance and job opportunities, according to a survey conducted by Pew Research Center

The rich in the US are adding more years to their life than the poor

Life expectancy got much higher for most everyone in rich countries over the last several decades. But in the US, the rich are adding years to their life faster than the poor—and probably faster than the rich in other countries. For example, take a look at the differences between the US and Denmark. A new study looking

Teleworking is widening the income gap around the world

Teleworking is widening income inequality all over the world, according to a new study from the International Monetary Fund. The ability to work remotely has become a make-or-break factor for many workers during the coronavirus pandemic. Unless their jobs are deemed essential, people who can’t telework face a much higher possibility of cutbacks in hours or pay,

America, we have a problem

America, we have a problem. A problem? Which one: COVID-19? Washington? Well, to me there’s really just one issue that supersedes the rest. Simply put: Money isn’t distributed equally enough in America anymore. Companies have been stiffing employees, a dynamic that’s getting worse decade after decade, which is tearing our country apart. What I’m describing

Warren Buffett, Challenged by Bill Murray, Speaks Out on Income Inequality

Warren Buffett believes that America’s top one percent of earners should take care of its bottom 20 percent, likening it to millionaires taking care of all of their children. At Berkshire Hathaway’s 2020 shareholders meeting on Saturday, which was streamed by Yahoo Finance, the 89-year-old billionaire investor was challenged by a question from the actor Bill

Could the coronavirus crisis help tackle income inequality?

The global economy is melting down. There is no sugar coating that. Catastrophic disruptions like the one coronavirus containment measures are visiting on industries, business and workers are already producing tremendous pain. It will likely get worse, along with the already devastating human toll. But profound upheavals like the one we are experiencing now also create unprecedented opportunities

A cure for income inequality?

 Local leaders across the United States are turning to private donors to fund an out-of-the-box policy experiment they think could go mainstream: Giving cash to residents, no strings attached. Newark, Milwaukee and Stockton, Calif., are among the cities testing versions of what’s known as universal basic income, a program under which residents receive a set

Income Inequality And The Economy Won’t Improve While Trump Pushes Bad Data

Not all problems are purely about numbers. But try to take on a single large-scale issue in the country and world today without specific detailed information. It doesn't matter what side of a question you're on. Legal abortion? Then you need to consider how poor people as well as wealthy can get access. Oppose it?

How Income Inequality Affects Health Equity, Patient Experiences

Nearly half of lower- and middle-income adults struggle to pay their dental and healthcare bills, underscoring latent issues with health equity in this country, according to a report from the Robert Wood Johnson Foundation, NPR, and the Harvard T.H. Chan School of Public Health. This comes in stark contrast with the highest income bracket that earns

Can solar geoengineering mitigate both climate change and income inequality?

New research from the University of California San Diego finds that solar geoengineering--the intentional reflection of sunlight away from the Earth's surface--may reduce income inequality between countries. In a study recently published in Nature Communications, researchers examine the impacts of solar geoengineering on global and country-level economic outcomes. Using a state-of-the-art macroeconomic climate impacts assessment approach,

Income Inequality In America Continues Its Inexorable Rise

Income inequality is an increasing problem in the United States and has been for several decades now. According to the Center on Budget and Policy Priorities (CBPP), back in the mid-1970s, income inequality reached its lowest point after incomes grew rapidly over the years from the late 1940s to the 1970s. Also, incomes increased at about

Three Graphs Show How Income Inequality Got Worse After The Crash

That the Great Recession profited the wealthy has been clear for some time. Similarly, it hurt those who were worse off. For example, those at the top of the economic structure here more than recovered what they had lost, largely because monetary and fiscal policy focused on bolstering markets. As New York University economics professor Edward Wolff has demonstrated,

Researchers Say Transparency Could Help Address Income Inequality

A frustration of income inequality, at least for those under the great dividing line, is the attitude from above that somehow poor and lower-income people deserve their lot in life. There's a lack of empathy, according to Lawrence Mitchell, a professor of law who wrote about this a couple of years ago: "The working poor may