Income Disparity

Posted on Monday, December 7, 2009

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Forbes (hat tip The Reformed Broker) with just how large the income gap has grown in the United States:

We based our list on the U.S. Census Bureau's Gini Index, which ranks income inequality in cities on a scale of 0 to 100. Imagine two islands, each with only five people, and a total income of $100,000. On one island, each person earns $20,000. This island has total income equality, and a Gini score of 0. On the other island, one person earns $100,000 and the other four people earn nothing. This island has total inequality, and a Gini score of 100.

The United States as a whole had a Gini score of 46.9 in 2008. By comparison, incomes are more equal in Europe (the E.U. has a score of 31), and less equal in South America (Brazil has 56.7; Bolivia has 59.2).

For what it's worth, no U.S. city has income equality that's close to the levels of Europe. Only seven of the 250 largest American metro areas have Gini scores below 40.

And the top 10 most unequal cities per Forbes:

The Reformed Broker notes that this trend is likely to reverse in coming years.

Income disparity in America is the one enduring thing George W actually can take credit for. Unfortunately for those on top, Obama's on a mission to tax this disparity back to the Stone Age. The pendulum always swings too far in both directions, this time, it's heading hard left.

Jake 07 Dec, 2009

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Source: http://econompicdata.blogspot.com/2009/12/income-disparity.html
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