Income inequality has been dramatically increasing since 1979, as seen in this article. In Alaska, Michigan, Nevada, and Wyoming income only increased for the top 1% and decreased for the rest of the population. In New York, Florida, Hawaii, New Mexico, Oregon, and Arizona, the top 1% gained two thirds of the income growth and the bottom 99% gained much less. State tax does not play a major roll in the income inequality in some states because some of the state with high inequality had no income tax and others had exceptionally high income tax.
Sunday, March 2, 2014
The Worst of Income Inequality
Income inequality has been dramatically increasing since 1979, as seen in this article. In Alaska, Michigan, Nevada, and Wyoming income only increased for the top 1% and decreased for the rest of the population. In New York, Florida, Hawaii, New Mexico, Oregon, and Arizona, the top 1% gained two thirds of the income growth and the bottom 99% gained much less. State tax does not play a major roll in the income inequality in some states because some of the state with high inequality had no income tax and others had exceptionally high income tax.
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