Wealth Inequality - Blog Posts

columbopossum

10 years ago

Hard to rise, and harder to fall: Poor college grads stay poor about as much as rich high school dropouts stay rich.

Poor kids who do everything right don’t do better than rich kids who do everything wrong

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renegadekaty

2 months ago

Some info to remember later:

92.7% of households in the US make less than $250,000/year.

Half of American households make less than $75,000/year. (The median is $80,000.)

27% of households in the US make less than $40,000/year. (The poverty line for a family of 4 is $30,000.)

The income tax rate increases as income increases until $600,000, where it's capped at 37%.

This means that someone earning a billion dollars a year pays the same percentage in taxes as someone who earns a million in a year. And both of them are richer than 9/10 American households.