INEQUALITY Principles of Microeconomics SPRING 2006

INEQUALITY Principles of Microeconomics SPRING 2006 www.phwiki.com

INEQUALITY Principles of Microeconomics SPRING 2006

Granato, Heather, Group Editor has reference to this Academic Journal, PHwiki organized this Journal INEQUALITY Principles of Microeconomics SPRING 2006

Berry College US www.phwiki.com

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The CBO data show that between 1979 in addition to 2003: The average after-tax income of the top one percent of the population more than doubled, rising from $305,800 to $701,500, as long as a total increase of $395,700, or 129 percent. (CBO adjusted these figures as long as inflation in addition to expressed them in 2003 dollars.) By contrast, the average after-tax income of the middle fifth of the population rose a relatively modest 15 percent, or $5,900, reaching $44,800 in 2003. The average after-tax income of the poorest fifth of the population rose just 4 percent, or $600, over the past 24 years. The top one percent of the population received 12.2 percent of national after-tax income in 2003, up from its already-large 7.5 percent share in 1979. In contrast, the shares of national income received by various groups of low- in addition to middle-income people all fell. The middle fifth of the population received 16.5 percent of the national after-tax income in 1979, but only 15.5 percent in 2003. The bottom fifth received 6.8 percent of such income in 1979, but just 5.0 percent in 2003.

Greatest Increases in Income Inequality Between the Top in addition to the Bottom, Early 1990s to Early 2000s 1. Tennessee 2. Connecticut 3. Washington 4. North Carolina 5. Utah 6. Texas 7. West Virginia 8. Pennsylvania 9. Florida 10. Maine Indiana

Granato, Heather Food Product Design Group Editor www.phwiki.com

George A. Akerlof (2003 interview with Der Spiegel): “What we have here is a as long as m of looting The rich don’t need the money in addition to are a lot less likely to spend it—they will primarily increase their savings. Remember that wealthier families have done extremely well in the US in the past twenty years, whereas poorer ones have done quite badly.” Paul Samuelson: “If we made an income pyramid out of a child’s blocks, with each layer portraying $1,000 of income, the peak would be far higher than the Eiffel Tower, but almost all of us would be within a yard of the ground.” Mr. Spock of “Star Trek” (describing Ardana, where the rulers live in luxury in a cloud city above miners working in misery): “This troubled planet is a place of the most violent contrasts. Those that receive the rewards are totally separate from those who shoulder the burdens. It is not a wise leadership.” Food as long as thought

Granato, Heather Group Editor

Granato, Heather is from United States and they belong to Food Product Design and they are from  Phoenix, United States got related to this Particular Journal. and Granato, Heather deal with the subjects like Food; Food Industry; Retailing

Journal Ratings by Berry College

This Particular Journal got reviewed and rated by Berry College and short form of this particular Institution is US and gave this Journal an Excellent Rating.