incomeeqmap.jpg

A study published today by the Center for Budget and Policy Priorities found that income equality has grown since the late 1970s, that income for wealthier households has increased faster than lower-income households after the recent recession, and that wide gaps remain between high-income households and poor and middle-income households.

In the state-level analysis for Tennessee, income declined 12.1% for the bottom 20% of Tennessee's households from the late 1990s to the mid 2000s. From 1970 to the mid 2000s, income for the poorest 20% grew by 11.8% as compared to 60.7% for the wealthiest 20%. Tennessee ranks 9th in income inequality between the top 20% and the middle 20%.

Reasons cited for the income gaps include wage inequality, expansion of investment income, and government policy on such things as taxes cuts, collective bargaining, the minimum wage, and trade agreements.

Full Report: A State-by-State Analysis of Income Trends

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Average Guy's picture

Trickle Down

Never met a Republican that couldn't explain how it works in theory and never met one that could prove where it works in practice.

metulj's picture

What makes the whole notion

What makes the whole notion of trickle-down economic theory is that it is completely untestable. This allows ideologues to shift it from metaphor (which is what it is) to economic law with propaganda.

gonzone's picture

Yup. Not testable and goes

Yup. Not testable and goes back to the Austrian economics founders who loved them some fascism.

metulj's picture

The best thing that ever

The best thing that ever happened to Austria was Hayek emigrating.

gonzone's picture

Agreed. The IQ of the whole

Agreed. The IQ of the whole country improved.

Fabricant's picture

His idea of a negative income

His idea of a negative income tax was not bad.

metulj's picture

He stole it from schumpeter.

He stole it from schumpeter.

Fabricant's picture

No, I don't think so.

No, I don't think so.

metulj's picture

It's a geek joke. Anyhow,

It's a geek joke. Anyhow, these were economists before the days of modeling. My bit is set to ignore.

Fabricant's picture

I'm embarrassed for you.

I'm embarrassed for you, metuljk.

metulj's picture

Why? Because I choose to

Why? Because I choose to ignore a "science" based on wishful thinking.

Fabricant's picture

No, you're right.

No, you're right. Contemporary economics is pretty worthless as a science but quite powerful as an ideology/religion.

metulj's picture

Yup.

Yup.

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