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Politics : Politics for Pros- moderated
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From: TimF10/22/2022 10:29:34 PM
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The Myth Of American Inequality Summary Philosophical Zombie Hunter Oct 2

If you account for federal transfers and benefits, the income disparity between the poor and the rich is 4:1 instead of 16:1.

The bottom quintile spends double their income due to transfers and the top quintile spends half their income due to taxes.

93% of all Americans that grow up in the bottom quintile have a higher income levels than their parents did and higher standards of living. For the top quintile, its 70%.

Out of the bottom quintile, 62% were able to rise to a higher quintile in one generation, despite issues with poorer education and lower income areas.

Inequality today is lower than it was at the end of WWII - 0.34 gini coefficient

philosophicalzombiehunter.substack.com
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