Tuesday, October 7, 2014
Why Voter's Don't Care More About Income Inequality
http://www.salon.com/2014/10/05/why_voters_dont_care_more_about_income_inequality_partner/ DUE 13 OCT 2014. What is meant by income inequality? What are the economic implications of a majority of Americans unable to pay for basic needs? How does income inequality affect national, state and local government income (taxes)???
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Income inequality is the unequal distribution of household or individual income across the various participants in an economy. Income inequality is often presented as the percentage of income to a percentage of population (according to investopedia.com). The economic implications of a majority of Americans that are unable to pay for basic needs are that it is a major problem with the economic growth of America and it conflicts with the state budget crisis. Also, the infant mortality rate in America is greater than Europe's because of this widening gap between rich and poor Americans. It is a major concern not just because of these aspects, but also because Americans are unwilling to do anything about it since they are unaware of how big of an issue this really is. It was reported that the ratios of the gap are about ten times larger than Americans expect and because of this, they don’t think that they need to do anything about it. This income inequality affects national, state, and local government income (taxes) because "Americans misperceive just how unequal their country has become." Another reason why it affects these three governments is because these rations may potentially be connected to criminal justice. Americans need to be educated about this this gap between the rich and poor are currently and will affect America. Without this knowledge, Americans will not do anything to stop this ratio from increasing further.
ReplyDeleteThe unequal distribution of household or individual income across the various participants in an economy. This basically means that some people are getting a lot more money than the general population. For example, a statistic may indicate that 70% of a country's income is controlled by 20% of that country's residents. The economic implications of a majority of Americans unable to pay for basic needs is that it will cause economic turmoil. According to the article it threatens overall economic growth and is exacerbating state budget crises. It affects all the government income because the poor will get poorer by paying taxes while the rich wouldn't be affected much. Most Americans are uneducated about their own country or are scared to do anything because theses rich people are also very powerful. -Sam MOhammed
ReplyDeleteIncome inequality is defined as how evenly or unevenly income is distributed in a society. In America the ratio of CEO to worker income is in reality 350 to 1. Most CEOs are not even entrepreneurs but managers. Many Americans are oblivious to the income inequality. While productivity increases income stays the same. The current conflict between cops and civilians in Ferguson, Missouri is an implication. Income inequality is very much related to income inequality. Many who are at a very low socioeconomic level steal to get food and other basic needs. The “American Dream” has become a daydream. The economic inequality hardly affects the wealthy. The poor American suffers with all the unequal treatment. Income inequality affects national, state, and local government income by exacerbating state budgets. Income inequality affects the creditworthiness of state governments leading to the cost of borrowing and tax revenue requirements. All in all, there is no bright side to income equality. But in a capitalist society, that will always be an issue.
ReplyDeleteAccording to http://www.investopedia.com the word income inequality means ,the unequal distribution of household or individual income across the various participants in an economy. Income inequality is usually presented as the percentage of population. The majority of the Americans are unable to pay for their basic needs is because American is growing and growing everyday. Some Americans underestimate this inequality. Same goes for the other countries, they all underestimate the pay gap between CEO and average workers pay. According to the article, an interview with Harvard Business Review said "one of the researchers who conducted the study said Americans’ inaccurate beliefs about the pay gap may be the reason economic inequality hasn't become more of a political issue." Americans are lacking the fact about the awareness of CEO to unskilled worker pay. Earlier in the election cycle, Democrats seemed very poised about making economic inequality a focus of their campaign. Another thing making this a big problem is because Americans are unwilling to do anything about it and they do not know how big a problem it is. The rich are kind of untouchable and are very powerful, while the poor is paying all the taxes and are suffering from it. This income inequality affects national, state, and local government income (taxes) because "Americans mis-perceive just how unequal their country has become." Americans just needs to learn about all this and be aware of whats happening to the rich and poor, and the gap. They need to know about it so the ratios wouldn't go up any higher.
ReplyDeleteAccording to investopedia.com, the definition of income inequality is the unequal distribution of household or individual income across the various participants in an economy. Income inequality is often presented as the percentage of income to a percentage of population. For example, a statistic may indicate that 70% of a country's income is controlled by 20% of that country's residents. It is also often associated with the idea of income "fairness". It is generally considered "unfair" if the rich have a disproportionably larger portion of a country's income compared to their population. There are many economic implications of a majority of Americans unable to pay for their basic needs. According to the article, Standard & Poor’s has released reports showing the widening gap between rich and poor threatens America’s overall economic growth and is exacerbating state budget crises. Also, a study that was published by the National Bureau of Economic Research found that America’s higher rate of infant mortality than Europe “is driven almost exclusively by excess inequality in the United States.” This issue is said to show how unequal how country has become over the past few years. The income inequality affects national, state and local government income taxes. This is affected because Americans are mis-perceiving just how unequal their country has become. The Americans must understand what is occurring for them to be aware of the huge gap that is between the rich and with the poor. This is leading to negative consequences. If they knew about what is happening, the ratios may decrease rather than keep increasing. A survey showed that the gap between CEO and average worker pay in America is more than 10 times larger than the typical American perceives.
ReplyDeleteIncome equality is meant as the unequal distribution of household income in a society. The majority of the Americans are unable to pay for their basic needs because America is growing everyday. While productivity increases income stays the same. The current conflict between cops and civilians in Ferguson, Missouri is an implication. Another thing that is a big problem is that Americans are unwilling to do anything about it and they do not know how big a problem is it. A study that was published by the National Bureau of Economic Research found that Amercia's higher rate of infant mortality than Europe "is driven almost exclusively by excess inequality in the United States." Income inequality affects the creditworthiness of state governments leading to the cost of borrowing and tax revenue requirements. There's positive and negative sides to income equality.
ReplyDeleteIncome inequality means ,the unequal distribution of household or individual income across the various participants in an economy.The economic implicantions of a majority of Americans unable to pay for basic needs is usually presented as the percentage of population. Also most Americans don't make enough money to cover their basic needs. The conflict between cops and civilians in Ferguson, Missouri is an implication. Washington Post reported, internal Democratic Party polling “found that talking about income inequality does not register strongly with the American public and risks accusations of class warfare.” Income inequality affect national, state and local governent income taxes more likely because Americans misperceive just how unequal their country has become.
ReplyDeleteEconomic inequality is the difference between individuals or populations in the distribution of their assets, wealth, or income. Economic inequality varies between societies, historical periods, economic structures and systems. Most Americans are not able to pay for their basic needs because of the widening pay gap and their lack of knowledge about it and as such inability to change it . The lack of awareness of the gap in CEO-to-unskilled-worker pay — which in the U.S. people estimate to be 30-to-1 but is in fact 350-to-1 — likely reduces citizens’ desire to take action to decrease that gap. Another reason is the availability of jobs and the low income jobs offered to unskilled workers-which makes up the majority of the poor.
ReplyDeleteToday Americans don’t understand the gap between the rich and the poor. Income inequality is income that is unequally distributed across the economy, for instance, one worker is paid $15.00 an hour however another worker who does the same job is paid only $13.00 an hour. Some people are being paid much more than the average America. Most CEOs are making tons of more money than any other American. The income between a CEO and an average American worker is 350-1. The economic implications of a majority of Americans unable to pay for basic needs are the economy will turn to turmoil and the state’s budget is in danger. According to the article these economic implications are threatening America’s economic growth and it is impairing states budget crisis. Income inequality affects how the national, state, and local government does taxes. Americans don’t understand the gap between the rich and the poor, the poor has to pay for taxes with money that they don’t have, while the rich are untouchable. If this inequality continues, the poor will become poorer and the rich will not be affected. People needs to be more educated about this problem so we could do something about this crisis.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. The economic implications of a majority of Americans that are unable to pay for basic needs are that it is a major problem with the economic growth of America and it conflicts with the state budget crisis. For example, a statistic may indicate that 70% of a country's income is controlled by 20% of that country's residents. The income inequality affects national, state and local government income taxes. Americans must understand what is occurring for them to be aware of the huge gap that is between the rich and with the poor. But either way if they were aware is still wouldn't make a difference considering were a capitalist society.
ReplyDeleteIncome inequality means the unequal distribution of household or individual income across the various participants in an economy. The economic implications of Americans being unable to pay for basic needs is a suffering economy that benefits from businesses and corporations that need public spending. The unawareness of people not understanding the large gap between CEO's and unskilled workers (being 350-1) does not help the problem which will cause less action to be taken to fix the problem. The income inequality affects the national, state and local governments because if the ratio was less of a gap, our country would be more economized and there would be more tax dollars going to these governments. Since the gap is so wide right now, tax dollars are coming in an abundance from the CEO's and not as much from the unskilled workers.
ReplyDeleteAccording to businessdictionary.com, income inequality is classified as, "A measurement of the distribution of income that highlights the gap between individuals or households making most of the income in a given country and those making very little". In other words, it is the difference of wealth, status, assets, etc. that is found throughout our country and economy. Implications regarding Americans being unable to obtain their basic needs include a rise in the amount of services provided including medicaid, food stamps, welfare checks, etc. that individuals get taxed on (an affect of national, state, and local government income). Another implication of this is the mere fact that while we have money going out to support such people, not enough money is coming into the system, leading our national debt to increase. Interestingly enough, Americans do not realize the income inequality crisis that is taking place all around them. “The lack of awareness of the gap in CEO-to-unskilled-worker pay — which in the U.S. people estimate to be 30-to-1 but is in fact 350-to-1 — likely reduces citizens’ desire to take action to decrease that gap,” Harvard’s Michael Norton said. The questions our society should be left with are, are we going to let this income inequality continue? Should we be more aware of who and what we are voting for? Are we going to let the upper 1% lead our country into its downfall?
ReplyDeleteIncome inequality means the unequal distribution of household or individual income across the various participants in an economy. The economic implications of a majority of Americans that are unable to pay for basic needs is that there are budget crisis due to the fact that there is a major problem with economic growth in America. This is presented by the percentage of the population. This income inequality affects national, state, and local government income taxes because Americans misperceive just how unequal their country has become. Americans have yet to understand how big of a situation this is and needs to be aware of what's going on within the rich and the poor and this "gap".
ReplyDeleteWhen income inequality is mentioned, they are talking about the unequal distribution of income between CEO and worker or any participants in the economy (according to businessdictionary.com). After conducting a survey, it was discovered that on average, we have belittled the gap of income between CEO and an average worker. Americans estimated the ratio was averaged to 30-1, but they were in for a surprise because in reality the ratio is greater than 350-1. Apparently the ideal gap would be 7-1; no country is anywhere close to that rate. If more workers were aware of this unjust income ratio, then there would surely be some action taken to try and lessen that gap. Economic implications that a majority of Americans are unable to pay for basic needs is due to the growing economy. The rich are sitting comfortably in their mansions, which make up about one percent of the population, meanwhile the rest of us are struggling to come by with basic necessities that are need to live. The prices for everything is rising every day, but the problem with that is that prices are increasing but annual income is decreasing. In the coming elections, democrats are bringing awareness of the economic inequality and making it the central focus of their campaigns. It isn't that American workers are blinded from this problem; it is more of them not knowing how to go about bringing it up knowing it “…risks accusations of class warfare.” Income inequality affects our government as a whole as well as to each individual state government. Americans underestimate how backwards and biased our economy has become. They aren't looking out for our best interest; it is all about the top one percent. The only thing to do is to bring more awareness to this complication.
ReplyDeleteIncome inequality is the unequal distribution of income among workers, in this specific article being between unskilled workers and CEOs. A study found that the American respondent estimated that the ratio of pay be about 30-to-1, when is reality the gap reaches as far as 350-to-1. The majority of Americans either underestimates or do not recognize the widening gap between pay. A lot of the workers today are barely making enough to support their basic needs, and while the income inequality is determined by the population, the Unites States population is continuously growing day by day. As the population continues to flourish, workers are being paid the same amount. As the article states, a study of Americans said that inaccurate beliefs about the pay gap may be the reason economic inequality hasn’t becomes more of a political issue. The fact that Americans do not pay attention and misperceive the huge gap between pay means that the income inequality affects national, states and local government incomes taxes. The poor is paying higher taxes with the money that they can barely support their needs while the rich are not fazed. With people not being aware just leaves room for the gap to continue to grow.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. The economic implications of a majority of Americans unable to pay for basic needs are that it conflicts with the state budget crisis. There isn't a balance between the amount of money coming into the system and the amount of money going out. Income inequality affects national, state, and the local government because it controls the way the government handles it's money and who they give what to. Americans are so unaware of the pay gap because it hasn't become more of a political issue. I was unaware of it until i read this article so I'm not surprised. The ideal pay gap, according to a study in this article, is about 7-to-1. That is lower than the actual gap in Denmark and Sweden.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. The economic implications of a majority of Americans unable to pay for basic needs are that it conflicts with the state budget crisis. There isn't a balance between the amount of money coming into the system and the amount of money going out. Income inequality affects national, state, and the local government because it controls the way the government handles it's money and who they give what to. Americans are so unaware of the pay gap because it hasn't become more of a political issue. I was unaware of it until i read this article so I'm not surprised. The ideal pay gap, according to a study in this article, is about 7-to-1. That is lower than the actual gap in Denmark and Sweden.
ReplyDeleteThe definition of income inequality is the unequal distribution of individual income or household income in an economy. In America, the average worker gets paid 350 times less than the average CEO, and not meany people are aware of that. Studies show that most people believe that CEO's get 30 times the amount that the average worker gets which is incorrect. With these unevenly distributed funds, some Americans wouldn't even be able to pay for basic necessities, which does damage to an economy in the long run. If people can't even pay for utilities, then the companies providing those utilities lose money and that has a negative impact on the economy. With the way our economy is set up, the rich are going to continue to get richer, and the people below will continue to remain below. The middle class is shrinking and that's due to income inequality as well. With this pay gap, state and local governments are effected more.
ReplyDeleteThe meaning of the term of income inequality is where pay bein being disttributed between employees is unbalenced. Majority if company operate in the of higher the tittle , more pay but less work while lower workers struggle more for less pay. In a article I read, employees are worker longer and harder hours for minimal pay. While higher ranked employees work less for more pay, it is unfortunately Americans are unaware to this gap that ruins the economy
ReplyDeleteWhat is meant by income inequality? What are the economic implications of a majority of Americans unable to pay for basic needs? How does income inequality affect national, state and local government income (taxes)???
ReplyDeleteIncome inequality as defined by investopedia.com is the unequal distribution of household or individual income across the various participants in an economy. For example, income inequality could mean that Sarah who works as an accountant for XYZ co. gets paid 10 dollars an hour whilst her male counterpart Jim gets paid 17 dollars in the same amount of time. This is a simple and relatable example of income inequality that is common in today's society. Obviously, if less people are able to afford the necessities, we can assume that they will not be purchasing homes and thus will not be paying home owners taxes. This along with other things such as purchasing a car or driving on toll roads as a means of escaping the expenses are all ways this could affect the economy. Income inequality affects our state, national and regional reputation by meaning that we no longer have a steady cash flow and our financial expenditures will spiral downwards. Assuming that money is power we can agree that neither can exist without the other. Income inequalities are a byproduct of greed.
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ReplyDeleteAccording to www.investopedia.com, income inequality is the unequal distribution of household or individual income across the various participants in an economy. The economic implications of a majority of Americans unable to pay for their basic needs are that it conflicts with the budget crisis and it is a major problem to economic growth in America. Not to mention the infant mortality rate in America is higher than most Europe countries combined, and that poses a major threat in “driven almost exclusively by excess inequality in the United States.” Income inequality affects national, state and local government income (taxes) by having majority of Americans being unaware of how serious it is with the income gap between the rich and the poor. The money isn't well managed when it is given to the public, one person can be so wealthy rich while the other lives in poverty. In the United States, for example, the researchers found the median American respondent estimated that the ratio of CEO to worker income is about 30-to-1. In reality, the gap is more than 350-to-1. That is one fine example of how Americans misperceived the difference between the rich and the poor, and that problem will keep going if they are not well educated on the issue and blindly vote for the presidency election without knowing what exactly is going on. Unless they receive some knowledge behind these threats and take actions, the ratio would keep widening apart for the future of the American economy.
ReplyDeleteIncome inequality is the large gap between minimum wage and CEO income. Many citizens are unaware just how high the ratio is between them. It is nearly 350-1. The problem is the public is uninformed and lacks revolutionary ideals. If change is to be had, courage is needed with it. The inequality will not go away by voting somebody new into office. Promises are hardly ever met, and unexpected situations occur. With people not able to afford basic needs comes increased taxation. Either way, somebody will pay for their necessities. The same people who complain about high taxes are taking the wage of the low income families. On the national level I do not think this affects much. On the state level it may mean less school funding. On the local level, there is a lot to be sacrificed. If taxes go toward welfare and similar aids, there is less funding available for community efforts. Parks, libraries, schools may not have the best there is to offer. If wages are higher and people can provide for their families, the community would benefit. I think that income inequality is unfortunate for some people, and those at the top live life well. You do not always get what you deserve for the work that you do and that probably will not change. The best you can do is stand up to government or try harder to get a better paying job. Even in that case a job is never guaranteed. Be grateful.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. The economic implications are that the less demand of the product the higher the price will go up, making it more expensive for those that "can" afford it. It could even cause an inflation. If you can't afford to buy a house or a car then there wont be taxes for the government to take, meaning that if less people are capable to afford their needs then the less taxes will be collected by the government making economy a little harder than it already is.Governments at all levels throughout the United States impose taxes in order to finance spending programs intended to benefit their citizens, if theres an inequality, it would make taxes to go higher to people that already contribute with them and it would cause an increment in goods and services in every state in the US.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. An implication is the strife between the protestors and the police in Ferguson, Missouri. The gap is continuously growing between the rich and the poor, and no one thinks they should do anything about it. The gap between CEO and average worker pay in America is more than 10 times larger than the typical American perceives. The gap between CEO and unskilled worker pay is 350-1, it's so high that it reduces citizen's desires to take action in reducing the gap. Income equality affects national, state, and local governments by having them un aware of the gap steadily increasing. The money flow is spiraling out of control. Now no one ants to take action in trying to decrease this gap. The national, state, and local governments have to pay attention with whom they choose to give their money to. Affecting them more now than ever.
ReplyDeleteThe income inequality is the growing gap between rich and poor. If average americans cannot afford basic needs, then many will live without and suffer. This income inequality affects national, state, and local government income because "Americans misperceive just how unequal their country has become." Another reason why it affects these three governments is because these rations may potentially be connected to criminal justice.
ReplyDeleteIncome inequality is a measurement of the distribution
ReplyDeleteof income that highlights the gap between individuals
or households making most of the income in a given
country and those making very little. The economic
implications of a majority of americans unable to pay
for basic needs is that is will cost a violent disturbance
in the economy. The economic growth would be threatend
and aggravating the state budget crises. The reason why
income inequality affects the national, state and local
government taxes is because "Americans misperceive just
how unequal their country has become." Americans need to
learn about what's happening so that they can be aware
and do something about it
Income inequality is the unequal distribution of household or individual income across the vartiey of people in our economy. For example men are able to get paid more than women Also immigrants get lower pay because they don't have their documents. voters don't care for income inequality, because of the larger gaps between the rich & poor. In 40 different countries the gaps exists. As the article states there was a experiment conducted .Also the inaccurate belief of income pay adds to the lack of interest and that's why it hasn't become a more political issue.If we don't get paid enough then Americans have to pay more because people try to take out money where they think it exists.
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ReplyDeleteAccording to businessdictionary.com “income inequality” is defined as, "A measurement of the distribution of income that highlights the gap between individuals or households making most of the income in a given country and those making very little" The majority of Americans today are unable to pay for everyday needs due to the economies rapid growth. People’s income stays the same as productivity rises. Most Americans are not able to afford their basic needs because of the large pay gap and their lack of knowledge about it. Most Americans are not able to pay for their basic needs because of the widening pay gap and their lack of knowledge about it and as such inability to alter it . Also, they do not have the ability to reduce that pay gap so they must suffer within it. “The lack of awareness of the gap in CEO-to-unskilled-worker pay — which in the U.S. people estimate to be 30-to-1 but is in fact 350-to-1 — likely reduces citizens’ desire to take action to decrease that gap,” Harvard’s Michael Norton said. The gap is way too wide for citizens to find motivation to change it so it’s just going to stay that way. The upper 1% is controlling our country and the citizens are allowing it. I don’t see any progress for us in the future unless we start taking charge of who we put into office
ReplyDeleteAccording to investopedia.com, income inequality is the unequal distribution of household or individual income across the various participants in an economy. It is often presented as percent of income to population. For example, the upper rich people hold about 70% of the country's income, and those upper rich are only 20% of the country's population. Many of the middle and lower classes declare this disproportionate income as unfair, because so little people have most of the money in the whole country. Most of these lower and middle class people are unable to pay for their basic needs and according to Standard & Poor, the ever growing distinction between the rich and poor is hurting the United States' overall economic growth. This income inequality is affecting the national, state, and local government income taxes. This is happening because the American public does not understand or know the severity of income inequality that is occurring throughout the United States. The American population needs to open their eyes and notice the huge difference between rich and poor. If we as a country continue down this path of ignorance, the distinction between social classes will only increase.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. The fact that most Americans are struggling to or can't pay for basic needs shows that the ratio in pay between the rich and poor is drastically too big. Harvard University and Chulalongkorn University researchers found that the difference in pay is down to a ratio of 350-1. All the extra money the CEO's are making screws the average workers out of the money they need to pay for their needs. This also creates a problem when it comes to taxes. All the rich CEOs making all that money are expecting to have an equal pay out for taxes, but the average worker can't afford to so the rich are promted to pay higher which causes another issue about equal rights
ReplyDelete-Raymond Tilus
Income inequality means the unequal distribution of household or individual income across the various participants in an economy. The economic implications of a majority of Americans that are unable to pay for basic needs are that it is a major problem with the economic growth of America and it conflicts with the state budget crisis. The current conflict between cops and civilians in Ferguson, Missouri is an implication. Another thing that is a big problem is that Americans are unwilling to do anything about it and they do not know how big a problem is it. According to the article it threatens overall economic growth and is exacerbating state budget crises. It affects all the government income because the poor will get poorer by paying taxes while the rich wouldn't be affected much.
ReplyDeleteAnley Friden
ReplyDeleteWhat is meant by income inequality? What are the economic implications of a majority of Americans unable to pay for basic needs? How does income inequality affect national, state and local government income (taxes)???
Income inequality is when money is distributed back to households in an unequal way. For less fortunate Americans who cannot buy basic needs they declare this unfair because rich people make up 20% of the country's population and that 20% holds 70% of the country's income. shocking, right? This all affects how our economy grows because instead of helping our country grow, it is tearing the country apart. Americans have yet to realize how severe the economic problems are in this country and how large the gap is between rich and poor.
Income inequality is the gap between the income of the rich and the poor. As a result of Americans being unable to pay for basic needs, some Americans resort to crime as a way to get what they need. This, of course, increases America's crime rate. Income inequality is reported to decrease America's overall income, and worsen the state budget crises by decreasing the income of these governments through taxes. Local governments suffer in the same way. As more American's pay less taxes because of their economic inability to do so, local, state, and national income decreases.
ReplyDeleteWhen the article refers to income inequality, it means that the population does not all receive the same amount of money as income. They do not receive anywhere near to the same amount of money. The economic imitations that causes a majority of Americans to be unable to pay for basic needs is that the people do not realize how serious the gap is. Most of the population has no idea how large the gap is and seem to heavily underestimate it. When there is income inequality, the national, state, and local government taxes are all affected. When the general population is not making enough income, the taxes are lowered. And since the upper class is not as large of a population they do not make enough to cover the losses of the lowered income taxes for the lower and middle class.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteIncome inequality is the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution. A survey that was done shows that the gap between CEO and average worker pay in America is more than 10 times larger than the typical American perceives. There are many economic implications of a majority of Americans unable to pay for basic needs. One of them is that America’s higher rate of infant mortality than Europe is caused almost exclusively by excess inequality in the United States. The gap between rich and poor threatens America's growth. Americans are blinded to how unequal their country is and how this situation is not good for the economy. Income inequality affect national, state and local government income (taxes). So many people are unable to pay taxes because of income inequality.
ReplyDeleteIncome inequality is the the unequal distribution of household or individual income across the various participants in an economy.The majority of the Americans are unable to pay for their basic needs because America is constantly growing everyday.People’s income stays the same as productivity rises. Most Americans are not able to afford their basic needs because of the large pay gap and their lack of knowledge about it. Early in the 2014 election cycle, Democrats seemed poised to make economic inequality a central focus of their campaigns,But as the Washington Post reported, internal Democratic Party polling “found that talking about income inequality does not register strongly with the American public and risks accusations of class warfare.” Standard & Poor’s has released reports showing the widening gap between rich and poor threatens America’s overall economic growth and is exacerbating state budget crises. Americans need to become aware and educated about this gap they are so obliviously unaware of.
ReplyDeleteIncome inequality is a measurement of the distribution of income that highlights the gap between individuals households making most of the income in the country relatively low. For example, researchers found the median American respondent estimated that the ratio of CEO to worker income is about 30-to-1. In reality, the gap is more than 350-to-1.The economic implication of a majority of americans unable to play americans unable to pay for basic needs is that it can result in an economic depletion. This can lead to issues like recessions, debt of many Americans and higher taxes to accommodate for the increase in welfare benefits. This affects local government, state and national taxes because it may decrease taxes for the poor/middle class and possibly higher for the rich.
ReplyDeleteThis article written by David Sirota essentially states that the difference between a CEO and average workers income is much more than what many people perceive, and that's a reason why the problem hasn't been faced seriously. We have a great income inequality, more than 350-1, though most Americans believe it is about only 30-1. The gap is even greater than the rich and poor, and I feel the need to lower these gaps for more equality. Income inequality affects us all because most of the money is going to those with higher rankings, leaving less for the average employee.
ReplyDeleteAccording to the article Income inequality basically means that everyone in a economy dose not earn the same amount of money.Most Americans are unable to pay for their basic needs because United States' economy is growing at a constant rate. The rich will just get richer as productivity increases and worker's pay will just stay the same. Considering most of the people in advanced countries don't know how how big the gap really is, they can't really complain about their pay sense they will just assume that they don't enough money in the budget to give them a raise even thou they have enough to nearly double it with no problems. This affects national, state and local governments' income because the poor will get poorer with them paying taxes while the rich will get richer and it wouldn't be affected as much. Most Americans with the lack of knowledge about their own country and their economy can be a major problem for economic growth.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. The economic implications of a majority of Americans unable to pay for basic needs is that it can result in an economic depletion. Also, America’s higher rate of infant mortality than Europe is caused almost exclusively by excess inequality in the United States. The gap between rich and poor threatens America's growth also. This income inequality affects national, state, and local government income (taxes) because American's are unaware of the gap.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. There are many economic implications of a majority of Americans being unable to pay for basic needs which include a widening gap between rich and poor which threatens America’s overall economic growth, and the infant mortality rate in America becoming increasingly greater. Income inequality affects national, state and local government income (taxes) by misleading Americans when it comes to how unequal our country has become. Americans must understand that there is a huge problem occurring within their country and if they don't realize, they will do nothing to fix it. If Americans start to realize they will be able to fix the gap between rich and poor and prevent it from increasing in the future.
ReplyDeleteAccording to investopedia.com. , Income inequality is the unequal distribution of household or individual income across the various participants in an economy. It's often often presented as the percentage of income to a percentage of population. The economic implications of a majority of Americans that are unable to pay for basic needs are that it is a huge problem considering the fact that America is one of the greatest powers in the world. The gap between rich and poor is way too big and too many Americans can't afford what they need. The infant mortality rate in America is greater than Europe's because of this widening gap between rich and poor Americans. This is a growing problem and Americans are unwilling to do anything about it and show little effort to improve because many people aren't even aware of this uneven distribution of classes(rich/poor). It was reported that the ratios of the gap are actually about ten times greater than what Americans expect.Therefore, How can they make a step towards change if they don't even know change is needed? This income inequality affects national, state, and local government income because Americans fail to realize that this country that is suppose to practice equality and "justice for all" really is doing the opposite. If Americans remain oblivious to this gap, they won't do anything to even this ratio and the gap will just grow wider as time goes on.
ReplyDeleteIncome inequality can be viewed as a measurement of the distribution of income that highlights the gap between individuals or households making most of the income in a given country and those making very little. The economic implications at this point is that Americans don't have enough money to provide for their basic needs. Survey's show the gap between CEO and average worker pay in America is more than 10 times larger than what the typical American perceives. These statistics and numbers are real, but Americans aren't taking this in consideration. They haven't realized how economic inequality affects national, state and local government income taxes. Standard & Poor’s released reports that show the widening gap between rich and poor threatens America’s overall economic growth and is exacerbating state budget crises. Many Americans are not aware of the large gap and how limited Americans will become with time, as of now they do not meet the necessary needs to provide for their basic needs. As the income decreases so will taxes, affecting the economy.
ReplyDeleteIncome inequality means the unequal distribution of household or individual income across the various participants in an economy. The implications that a majority of Americans are unable to pay for basic needs is the fact that discounted insurance (obamacare) and food stamps exist. Income inequality affects national and state government by threatening America’s overall economic growth and exacerbating state budget crises. It affects local government within the Ferguson, Missouri case, the protesters and police have turned attention towards the economic inequality's possible connection to criminal justice.
ReplyDeleteIncome inequality is defined as the unequal distribution of household income across the various participants in an economy. It means that some people are getting more money than others in the society. The economic implications of a majority of Americans unable to pay for basic needs are that it is a major problem with America's economic growth and conflicts with the state budget. For example, a statistic may indicate that 70% of a country's income is controlled by only 20% of a country's residences. Income inequality affects all three government systems because the rich won't be affects that much while the poor get poorer due to the high taxes. Most Americans don't realize the huge income inequality between CEOs of a company and the average worker. The income between the CEO and the average American worker is about 350:1. On a lower scale, for an average American to work for a company could get paid $14/h while another American who does the same job gets paid $11/h. People just need to be more educated so we can do something about the gap between the rich and the poor.
ReplyDeleteAccording to the article income inequality is the pay gap between individual participants in the economy. The article states that America's infancy mortality rate is higher than Europe's because of the inequality in the United States, meaning that people don't have the money they need to buy their children food and necessary medicine to keep them healthy, therefore decreasing the chances of them living through a great illness. It is a known fact that the majority of the taxes is payed by the middle class rather than the rich who are basically swimming in their wealth. What happens when the middle class can no longer pay taxes because of their decreasing income? There is barely any money going to the government and this will obviously cause troubles. For example: social security is already not enough for most retirees to actually enjoy their retirement, but tax income decreases there will be no money left for social security. We could assume that if it even came to this, the government would simply have to lower taxes for the middle and lower classes and increase it for the higher class but let's be real, when would that ever happen.
ReplyDeleteIncome inequality, or the state of an economy in which the shares of total income earned by the rich and poor are highly unequal. If Americans couldn't pay for their basic needs like clothing, food and shelter, those Americans that COULD afford it would have to contribute to pay for those who are unable. This not only is the byproduct of economic inequality, but it also is a cause of economic equality. These actions do not help those who cannot afford it to eventually afford it. It's a sticky situation. The poor people cannot afford certain needs because they aren't necessarily given a fair opportunity to, and its a vicious cycle because not only is it unfair for the poor, but it's unfair for the richer Americans who have to pay for those who cannot. It really is hard to feel bad for the poor as it is to feel for the rich. This system messes up the federal and local income taxation because they tax the rich really high because they can afford it, but at the same time the poor people are never going to get a chance to afford those taxes so that EVERYONE can pay them. It just keeps cycling so that the poor cannot afford taxes and the rich are paying too much based on their income.
ReplyDeleteIncome inequality is very easy to understand but very hard to stop. People are getting paid more for factors they cannot control. If I am a CEO I should be getting paid the same as the next, not any more or less. I think this Is a big problem and has caused many problems. People already are rioting about the low wages people are receiving. Why would you pay somebody more for doing the same job? I think it comes don't to gender and racial profiling. If you do the same job the same way you cannot possibly pay one more then the other for any reason unless it is personal. This needs to be fixed and we have to start keeping our emotions and personal feelings from affecting business. Some say do not mix business with pleasure, this has many connotations but when it comes down to the economy this means do not pick the gender or race you prefer over the work that he/she does.
ReplyDeleteIncome inequality is defined as the pay gap between individual participants in the economy. The implications of the majority of Americans being unable to pay for basic needs are that people are extremely uninformed about economics which leads to a halt in economic growth. Income inequality effects us more than we even realize. For example, because of this wide gap between the rich and poor, it is putting a strain on our state budget crisis. Another issue, somewhat closer to our hearts, is that our infant mortality rate is quite high. This is probably due to the disability of poor people to properly take care of their babies because of money issues. This problem will not be resolved unless Americans start realizing just how much money is going around, and that they should work to attain that money.
ReplyDeleteIncome Inequality is the unequal distribution of household or individual income across the various participants in an economy. "In the United States, for example, the researchers found the median American respondent estimated that the ratio of CEO to worker income is about 30-to-1. In reality, the gap is more than 350-to-1." The economic implications of a majority of Americans unable to pay for basic needs would be due to the economy growing so rapidly. It conflicts with the state budget crisis, there is an uneven distribute in funds, making us have no balance on the money that comes in and out of the system. Income inequality affects national, state and local government income taxes because it controls who the government give the money out to. Poor people will become more poor and rich people wont be affected by it as much. Again, There is no balance."Americans mis-perceive just how unequal their country has become."
ReplyDeleteFrom what i've researched what is meant by income inequality is that its a measurement of the distribution of income that highlights the gap between individuals or households making most of the income in a given country and those making very little.The economic implications of a majority of Americans unable to pay for basic needs is that there's a widening gap between rich and poor which threatens America’s overall economic growth, it can result in an economic depletion , it conflicts with the budget crisis, it is a major problem to economic growth in America, and America’s higher rate of infant mortality than Europe “is driven almost exclusively by excess inequality in the United States.” Income inequality affect national, state and local government income (taxes) because Americans misperceive just how unequal their country has become.
ReplyDeleteIncome inequality is the unequal distribution of household income in a society. Most Americans are unable to pay for the basic needs in their lives and an implication of this would be that it affects the economic growth of America. Americans are unwilling to do anything about it and they do not even realize how big of a problem this is. Income inequality affects national, state, and local government income because it may decrease taxes for the poor and middle class and increase for the upper class.
ReplyDeleteIncome inequality means ,the unequal distribution of household or individual income across the various participants in an economy. The reasons that the majority of Americans are unable to pay for their basic needs is because America is growing everyday. Americans, and even other countries, underestimate the pay gap between CEO and average workers pay. According to the article, results of a study showed that Americans are not aware of the gap between CEO and unskilled worker pay. Another thing is because Americans are unwilling to do anything about it. The rich are like the kings, and the poor are the suffering commoners. This affects national, state, and local government income because Americans are oblivious to the inequality that is going on.
ReplyDeleteIncome Inequality is the unequal distribution of household or individual income across the various participants in an economy. "In the United the median American respondent estimated that the ratio of CEO to worker income is about 30-to-1. In reality, the gap is more than 350-to-1." The economic implications of a majority of Americans unable to pay for basic needs would because the economy growing so rapidly. It conflicts with the state budget crisis. there is an uneven distribute in funds, making us have no balance on the money that comes in and out of the system. Income inequality affects national, state and local government income taxes because it controls who the government give the money out to. Poor people will become more poor and rich people wont be affected by it as much. But with out the poor the world wouldn't function. The worlds never gonna be equal might as well get rich or get over it and stop complaining.
ReplyDeleteInvestopedia defines income inequality as the unequal distribution of household or individual income across the various participants in an economy. Income inequality is often presented as the percentage of income to a percentage of population. Americans grossly underestimate income inequality. The lack of understanding is one of the key findings of a survey showing the gap between CEO and average worker pay in America is more than 10 times larger than the typical American may perceive. Salon says that researchers found the median American respondent estimated that the ratio of CEO to worker income is about 30-to-1. In reality, the gap is more than 350-to-1! The "ideal" pay gap is about 7-to-1. Because of the large gap that is ten times larger than the average Americans may notice,Americans misperceive just how unequal their their country has become & figure they won't do anything about it. This is why income inequality affects state, government, and local income taxes. While the poor are paying more taxes and becoming poorer, the rich will be sitting on their asses and the gap will seem less and less noticeable. Without knowledge of the inequality in a capitalist society, nothing will proceed to change.
ReplyDeleteAccording to businessdictionary.com, income inequality is the measurement of the distribution of income that highlights the gap between individuals or households making most of the income in a given country and those making very little. This basically means that everyone in the economy doesn't earn the same amount of money. The economic implications of a majority of Americans unable to pay for basic needs would be the wide gap between the rich and poor. In a survey it showed the gap between CEO and average worker pay in America is more than 10 times larger than the typical American perceives. Another economic implication would be the infant mortality rate in America is greater than Europe's because of this widening gap between rich and poor Americans. This is a growing problem and most Americans are unaware or unwilling to do anything about it. Economic inequality affects national, state, and local government income taxes. The widening gap between rich and poor threatens America's overall economic growth. It is also exacerbating state budget crises. Americans will become limited over time, not meeting the necessary needs to provide for their basic needs. Many Americans are unaware of the large gap and how it will effect them over time. Taxes will decrease as the income decreases, which will affect the economy.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. This simply means that some percentage of people are making a significant amount more money than the rest. Many and Americans are unable to pay for their basic needs, or must budget wisely or sacrifice buying something slightly lesser importance because of this huge chasm e between the rich and the poor. The upper 1%, the rich, have approximately 50% of the money in America. What does that leave for everyone else? When it is divided up with the rest of the population, (unevenly, of course), many are left struggling to buy basic necessities. The problem is, people are sorely uneducated in this matter. They don't see this gap as a problem because they have no idea really how big it is. But, if this gap were to shrink, the people at the near bottom of the financial food chain would see a significant difference. Income inequality affects national, state, and local government taxes because since most of the money in circulation is owned by the upper 1%, that's where the majority of the taxes are coming from, and unsurprisingly, lots of the rich folk find ways to evade paying taxes or all of them by going through foreign banks, etc. Then the rest of the population ends up paying the smaller tax they have on their income. And then there are the millions on welfare and other governments aids who sometimes pay even littler taxes, while taking tax dollars as their income; so, basically, the government ends up losing money because of this income gap.
ReplyDeleteIncome inequality is the unequal ways the money is being distributed between CEOs and the common worker. The CEOs are being paid about 350 times more than the people who are working for that company. The economic implication is that America as a whole is having economic issues and many are struggling just providing the basic needs to survive. Our economy is having trouble expanding due to income inequality because as people there is a budget crisis from the national government to local governments. We as Americans have become ignorant to how income inequality is really effecting our citizens. It's even causing the U.S. to have more infant mortalities than Europe, based upon just the income inequalities we face.
ReplyDeleteThe term "income inequality" is referring to the large difference in income distribution between all people involved in the economy. Due to this income inequality, a majority of Americans are unable to pay for basic necessities yet this malfunction of the nation is often overlooked & simply being underestimated; Americans misperceive just how unequal their country has become & the only way to change that is by informing them. The middle class is slowly withering away, leaving the basic: rich vs. poor; this income inequality may have a larger affect on a national level in the near future than it already has now as we can witness the current tax system. We're all in tax brackets that are predetermined by our income but once you reach a certain income you have a fixed tax rate... Some people may disagree with me but I see a problem there; the low income people have taxes that may constantly rise with promotions etc. but someone that makes an enormously large amount of money gets a fixed rate and doesn't have to pay a single cent more than what that tax limit sets? Maybe the tax system should be different so that money is distributed and taken away more evenly. Income inequality affects the creditworthiness of state governments leading to the cost of borrowing and tax revenue requirements. In this society where income inequality is a very real thing that is effecting all Americans, we need to stand up and educate the unknown because change needs to be made so that the rich don't keep getting richer while the poor get poorer.
ReplyDeleteAccording to the website listed above income inequality is the unequal distribution of household or individual income across the various participants in an economy. Which is usually presented as a percentage of population. Americans unable to pay for basic needs are conflicts with the state budget crisis. So there are many CEOs that are making a whole lot of bank. Most Americans aren't even unaware of this income inequality occurring. There is a huge pay gap between the rich and the poor. Matter of fact a survey that was done shows that the gap between CEO and average worker pay in America is more than 10 times larger than the typical American perceives. Researchers found the median American respondent estimated that the ratio of CEO to worker income is about 30-to-1. In reality, the gap is more than 350-to-1. Not only that but the actual ratio should be about 7-to-1. Notice the tremendous difference. Income inequality affects national, state and local government income because Americans are mis-perceiving just how unequal their country has become. This brings in consequences for example, America has a higher rate of infant mortality than Europe because of the excess inequality in the United States.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. According to the article, there is a gap between the rich and poor of the average worker income. The ideal ratio in per capita income between CEO's and the poor in first world countries is a supposed 7-to-1 pay. America is nowhere near that ratio. The nation needs to be aware that major proceeds are always given to the wealthy and wages need to be increased for employees. With a 350-to-1 ratio income gap between the rich and poor, Americans need to be concerned about how the income is being distributed (because it's definitely not being distributed evenly). The economic implications of Americans not being able to pay for basic needs means that all the employees who are working their but off to get a paycheck still is not enough to provide for themselves and probably uses medicaid to help support them. The way that income inequality affect national, state and local government income taxes is by distributing household or individual income across various participants unequally, because the people who are benefiting the most from taxes are the wealthy, which are also the same people that part of that 350 to 1 ratio of worker income.
ReplyDeleteIncome inequality is defined as the unequal distribution of household or individual income among various people apart of the economy. There are many economic implications that could result from the majority of Americans not being able to afford basic needs, a major one being an economic crisis. When Americans are low on money they can't buy from stores which make store owners poor and then they cant buy things neither and the cycle continues. Income inequality affects national, state, and local government income taxes because Americans are being mislead about the equality of their country leading them into unawareness of the gap.
ReplyDeleteBy income inequality, its means the unequal distribution of household or individual income among various people apart of the economy. Meaning, some people get more than others in the economy. The economic implications of a majority of Americans unable to pay for basic needs is one of the results of why there will no longer be a middle class in the future. It will only be a world of the rich and poor, where the rich get richer and the poor get poorer. The income inequality affect national, state and local government income because people aren't aware of it happening, they are blind to what's going on around them.
ReplyDeleteThe word income inequality means ,the unequal distribution of household or individual income across the various participants in an economy. Income inequality is usually presented as percentage of population. Most Americans are unable to pay for their basic needs because America is growing more and more everyday. According to the article, an interview with Harvard Business Review said "one of the researchers who conducted the study said Americans have inaccurate beliefs about the pay gap and may be the reason economic inequality hasn't become more of a political issue." Americans are lacking skills for the awareness of a CEO to an unskilled worker pay. Earlier in the election cycle, Democrats seemed very poised about making economic inequality a focus of their campaign. Another thing is that this is becoming a big problem because Americans are unwilling to do anything about it and they do not know how big of a problem this is. The rich are untouchable, and they are vert very powerful people, while us poor people are paying all the taxes and suffering from it. This income inequality affects national, state, and local government income taxes because Americans mis-perceive just how unequal their country has become. Americans just need to learn about all this information and be aware of whats happening to the rich and poor, and the gap. They need to know about this because we don't want the ratios to go up any higher.
ReplyDeleteCARLIE LIBRIZZI
ReplyDeleteIncome inequality means ,the unequal distribution of household or individual income across the various participants in an economy.The economic implicantions of a majority of Americans unable to pay for basic needs is usually presented as the percentage of population. The current conflict between cops and civilians in Ferguson, Missouri is an implication. Income inequality is very much related to income inequality. Many who are at a very low socioeconomic level steal to get food and other basic needs. The gap between CEO and unskilled worker pay is 350-1, it's so high that it reduces citizen's desires to take action in reducing the gap. Income equality affects national, state, and local governments by having them un aware of the gap steadily increasing. Another terrible issue , is that our infant mortality rate is quite high. This is probably due to the disability of poor people to properly take care of their babies because of money issues. As the income decreases so will taxes, affecting the economy.
CARLIE LIBRIZZI
Income inequality is the distribution of income in a society, its often presented as the percentage of income to the percentage of the population. The economic implications of a majority of Americans that are unable to pay for basic needs is a huge problem that deals with the economic growth of America and messes with the states budget. Income inequality affects national, state, and local governments income because Many Americans don’t realize how unequal their country has become, no one wants to take action and decrease this gap. We all need to open our eyes.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. From this, people are receiving more money than the general population is which leads to people not being able to pay for their basic needs. Because people are unable to afford the costs of goods or services, they are unable to support themselves and their lifestyle needed to live successfully. The income inequality is affecting the national, state, and local government’s income taxes. The American public community doesn’t completely comprehend the severity of what’s occurring to them, and will only progress in a negative way towards the future. Americans need to start to realize what’s happening between the rich and the poor, and what they can do to stop it so they don’t end up paying an absurd amount for taxes.
ReplyDeleteIncome inequality is the unequal distribution of household or individual income across the various participants in an economy. It is meant for those people who get paid significantly higher than unskilled workers; significant as in 350-to-1 in pay.
ReplyDeleteThe economic implications of the majority of Americans unable to pay for basic needs are problems between police and protestors, their economic growth, and the infant mortality rate. A large majority of Americans know that there is an increasing income gap between rich and poor, but there is little public consensus on it. With little consensus, it isn't perceived as a major problem in political issues.
Income inequality affects national, state and local government income taxes by the widening gap between rich and poor, budget crises, and infant mortality rate due to excess inequality. Of the population, 1% has half of the money, the other half is distributed to the rest of the population. Income inequality affects everyone.
The unequal distribution of household or individual income across the various participants in an economy is income inequality. It was reported that the ratios of the gap are about ten times larger than Americans expect and because of this, they don’t think that they need to do anything about it. They are not able to pay things off because they are not educated on this. The other reason why it affects these three governments is because these rations may potentially be connected to criminal justice. Americans need to pay attention!
ReplyDeleteOne key measure that allowed China to become number one is that they have manipulated their currency and making goods significantly cheaper than U.S stuff on the global market. And in turn China's booming factories has helped make China's Economy flourish. Purchasing power purity is used when economists try to make comparisons between to countries more fair. It is needed to make accurate comparisons between two different countries in order to compare them correctly
ReplyDeleteThe key measure that allowed China to surpass The United States was the manipulation of their currency. A Chinese Yuan has the value of $0.16315 in the United States. Now that China is cheaper many countries flock there to buy product. Purchasing power parity is an economic theory that estimates the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to each currency's purchasing power. China is a great place to live for a daily “discount" though. China knows how to manipulate their currency. China now has a great factor sector that is helping with their economic growth.
ReplyDeleteChina's economy is now the largest in the world, surpassing the U.S. China manipulated their currency so it could be worth less than the American dollar. That makes chinese products cheaper than American products on the global market, and so they make more profit since people buy their stuff more because it costs than it would buying from other countries. Purchasing power parity is a technique used to determine the relative value of different currencies. Purchasing power parity is important because it impacts international economic decision- making.
ReplyDeleteIncome inequality is the idea that the income of people within a set population are skewed toward a minority of the people holding most of the money. The impacts couldn't be more clear since most if the people have lower incomes not only are they spending less but the government is also get less in tax revenues, this is why the government is almost forced to tax those with higher incomes more, to make up for theses lower incomes. If incomes weren't so skewed toward one side we could maybe have the same taxes on everyone and still be able to have government funded programs. The other impact is education since I have a lower income I am less likely to be able to send my child to school and the lower tax revenues because of my lower incomes makes it hard for the government to pay for my child's education. Lower education also decrease our already low incomes it's seen in the graph showing different incomes with different levels of education. Income inequality is becoming a problems because as income goes down the demand for government programs up while the supply goes down this will end up hurting everyone in the nation.
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