Sunday, February 16, 2014
Income Distribution in one chart.
Note that this illustration is an effort to make income distribution more meaningful and easier to understand. It reduces the total population to 10,000 which means that 90% is equal to 9000. Again in the same token the top 1% is only 100 but even that is divided into 1of the 100 i.e 0.01%... Note that the actual income of the 90% is just over 52% which means that the other 10% gets almost as much as the 90%...
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This issue dealing with the wealth gap in our nation has been an increasing problem over the years. The lower class of America make barely anything compared to the people that are in the one percent. One of the major problems is income distribution. It is stated in the article that the bottom 90% have a share of income of over 50%. On the other hand,the top 1 percent has a share of income of 4.6%. Clearly this is not a favorite for most people in society. If the the wealth was distributed more evenly it would greatly increase our economies performance.
The wealth is not distributed evenly in our nation. This chart shows that there in a huge gap between income 1 out of 10,000 make and 9,000 out of 10,000 make. The difference in income is phenomenal. If there are that many people making an average of $30,000 versus the few making millions, I believe there should be a way to distribute the income more, considering even only 400 are making an average $200,000. This shows the reasoning as to why our economy is the way it is today.
One of the major problems our our economy today and for a while has been the issue of income distrubution. This picture shows the problem in such a huge proportion. It is not helping our economy that the top one percent hold the majority of our nations wealth. If we could find a way to more evenly distrubute income our economy could take a turn for the better.
There is a clearly uneven distribution when it comes to income. Not only has this problem been going on for a while, but it will only continue to get worse. It is completely unfair the way the world works. The top one percent holds most of our nations wealth and that is not fair. However, I think people need to work hard for what they earn, but it is still not fair and I think wealth needs to be distributed better.
The wealth gap has been a big issue in the media lately. Being that 90% of the populations makes about $30,000 is a disheartening fact. However, if taxes continue to rise, the gap will continue to grow. The middle class will eventually disapear and the lower class will struggle even further. It will then be upon the top 1% to take most of the burden by giving away a big percentage of their earnings in taxes.
The diagram does a great job at illustrating the distribution of wealth in today's society. The top one percent of society controls the most of our nation's wealth. This is hard to believe when their are people at the bottom of the pyramid who are in poverty. It is sad to think that their are people struggling to feed their families when one percent of society is living with a lot more money then they could ever use in one life time. The issue of income distribution has been a problem for a long time and will continue to be an issue.
It is crazy to see such a gap between people’s income from the top and the bottom. This image shows that the bottom is 9,000 of 10,000 with the average income of $30,000 with an income of that small many people would not be able to survive which shows why there is so much poverty in the world. With that being said 1 of 10,000 have an average income of $24 million. It is shocking to me that one person, 0.01%, could have so much money and 90% of everyone else doesn’t have nearly enough.
This diagram does a great job illustrating the issues dealing with wealth distribution in our economy. There is a increasingly large wealth gap that continues to frow, separating the upper and lower class even more, and eliminating the middle class all together. In this chart, it shows that in 2010 the bottom 90% of the population shared about 52% of the nations wealth leaving the remaining 48% to the top 10% of the population. if you add together the top 1% of the population, they alone share 19.2% of this wealth. Most people don't realize that there is such a big wealth gap, however most have some knowledge on the nations wealth distribution and disagree with it. This is an increasing problem that will only worsen with time unless new laws and taxes are put into place therefore decreasing the gap.
The illustration of the income distribution in 2010 clearly shows that major difference in income between the top 10 percent of the population to the bottom 90 percent of the population. From the millions of income in the top 1 percent to the thousands in the top 5 percent to 10 percent which make over 4 times that of the bottom 90 percent. There is a problem in our nation due the issue of income distribution. Our economy have been favoring the top 1 percent in the nation while the bottom of the population struggle to make ends meet.
The wealth gap in the nation is a very difficult problem that is almost impossible to fix. Year in and year out this is a huge problem in America.The difference in income between the high class and low class is a dramatic margin. The top 1% of Americans holds the nations majority of wealth. But how do we fix that? The best answer America has come up with is tax the rich more than the poor. However that tax does not go to the poor it goes to the government so that does not even out the income salaries. Its hard to also even out income because salaries consist better incomes at certain jobs. The saying "the rich only get richer" is very true because they are open to so much more with the money they have. They can take chances in the stock market, they can invest in bigger better opportunities that lower incomes can not take the chance on. I wouldn't even be able to suggest a way to even out the wage of income because I believe that its very hard to to even everything out the way our economy is set up.
Sadly, not only in America, but all over the earth, nations and societies suffer with the income distribution and the division of wealth problem. In a lot of countries is possible to see a massive difference between the poorest and the richest, whereas the richer group in total have the same amount of income as the poor group. As an example showed by the chart, 10% of the whole population receives the same amount of money as the other 90% of population. This scenario does not show an even pyramid of the society but shows how bad the economy is going. The proportion of income distribution are more evenly distributed in countries with better economies. The economy is being controlled only by the small part of 10% of the population, their wants and needs, therefore not being accurate to the whole society well-being.
This chart describes the income distribution in 2010. The majority, the bottom 90%, which is also 9,000 out of 10,000 people only average about 30,000 in income. This proves that there are several people only making this amount of income. As we start moving up to 10% and 5% there incomes increased to 126,000 and 206,000. This is a major jump from the 90% area. When you get to the very top, which is the .1% is receiving 798,000 of average income. These numbers get increasing big as you lessen the amount of people receiving this amount of money. As you can see there are several people only obtaining 30,000 as a opposed to only 40 people receiving 798,000, showing that there is a big division from the poor and the rich.
The issue of the Income distribution is that the bottom 90% share more of their income an the wealthy, which In my mind feel that it doesn't make sense shouldn't the rich be the ones helping the poor? We also need to distinguish wealth from income. Income is what people earn from work, but also from dividends, interest, and any rents or royalties that are paid to them on properties they own. Income distribution is a major economic that most people are not aware of but it might be necessary to the economy.
This shows how unevenly distributed wages are and much of a gap is between the highest and the lowest. Many people have heard this and how it is effecting us but it is another thing to actually see it displayed weather it be a graphical representation or just written down numerically. This picture shows how the 9,000 of 10,000 have an average income of $30,000 and the rest earn a much higher average. Those people with the average of $30,000 are 90% of the population and the rest earn so much more then the average in that group. I think this is a major economic problem that should be resolved. I do understand that some wealthy people work hard to make their earning as do many middle class and lower class families but their should be a way to make the gap smaller.
There has been this wealth gap in our economic system for years now. The economic gap is the gap between the poverty stricken and the wealthy. This is due to an inconsistency in the income distribution. In the article it is stated that the bottom 90% of people have a share of income of over 50%. The top 1% has a share of income of 4.6%. This is a big gap between the two classes. If the wealth distribution was fair, this gap would not exist or it would be very minimal.
The huge gap between the lower and upper classes is a sign of a weak economy. The article states that the lower 90% have a shared income of over 50%. Those at the bottom are making about 30k-40k a year where those at the very top are making money that they don't even know what to do with. This is a large issue in our nation and resembles a weak economy.
This illustration shows us the huge gap between the rich and the poor. Wealth isn't distributed equally which makes our economy look weak. The top one percent of the nation only shares about 4% of their income while the bottom 90 share over 50%. This shows how uneven we are as a nation. If the problem is fixed, we will most definitely experience an upward rise in our economy.
The chart above which is used to represent the income distribution in the year 2010 shows that wealth is not being distributed fairly amongst our piers of the working class. This chart is indicating that the bottom portion which is 9,000 of 10,000 obtain an average income of $30,000 which is a hand full of parties, progressively reading the chart you may see a drastic jump which is 10% and 5% those individuals who their incomes increased to numbers which range from 126,000 and 206,000. That is a widespread change compared to the 90% of individuals. With the information provided 1 of 10,000 have an average income of $24 million. I'm sure I wasn't the only one thinking "how could only one person (0.01%) make over 4 times the income of the bottom 90 percent"? Will there be a solution to solve the issue of wealth distribution? The status of our economy makes it hard to determine if we will resolve this issue eventually.
In America today, there is most definitely a large gap between the rich and the poor. There are many things that contribute to this both unfair and unfortunate problem. The wealth needs to be more evenly distributed. There are many ways of going about this however the possibly the most popular have to do with new taxes for different levels of wealth, as well as a new minimum wage. Our economy definitely needs some work to say the least.
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