Another horrible repeating of the "income inequality" trope, and then showing graphs of median income that don't get near the top l% of US earners, while citing a stat that the top 1% of earners are gaining.
Isn't that what you'd expect? There's a factor of ten difference these days between the poverty line and a fairly typical white-collar income (call it $120K.) Is it really surprising, or telling, that at the tract-level you'd find a factor of ten difference in a major city? Is there a major city where you don't see that?
Table H-1. Income Limits for Each Fifth and Top 5 Percent of
All Households: 1967 to 2011
Year Lowest Second Third Fourth Top 5 percent
2011 20,262 38,520 62,434 101,582 186,000
1967 (adj) 19,931 38,866 55,164 78,663 126,232
1967 3,000 5,850 8,303 11,840 19,000
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Table H-2. Share of Aggregate Income Received by Each Fifth and
Top 5 Percent of Households, All Races: 1967 to 2011
Year Lowest Second Third Fourth Highest Top 5 percent
2011 3.2 8.4 14.3 23.0 51.1 22.3
1967 4.0 10.8 17.3 24.2 43.6 17.2
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Table H-3. Mean Household Income Received by Each Fifth and
Top 5 Percent, All Races: 1967 to 2011
Year Lowest Second Third Fourth Highest Top 5 percent
2011 11,239 29,204 49,842 80,080 178,020 311,444
1967 (adj) 10,630 29,452 47,018 65,787 118,393 186,758
1967 1,600 4,433 7,077 9,902 17,820 28,110
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Table H-6. Regions--All Races by Median and Mean Income: 1975 to 2011
Median income Mean income
Current $ 2011 $ Current $ 2011 $
2011 50,054 50,054 69,677 69,677
1975 11,800 44,851 13,779 52,373
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This data indicates to me that the bottom 3/5ths of income earners earn about what they did 45 years ago if adjusted for inflation, while the top income earners have increased. The fact that the top 20% have increased their earnings drastically does not necessarily mean to me that there's a problem.
It simply means if you can break out of the slump and make your way into the top 20% of income earners that you will be more rewarded than you were 45 years ago.
djcapelis|13 years ago
A factor of ten difference between census tracts in the same city is worth examining.
tomkarlo|13 years ago
frogpelt|13 years ago
It simply means if you can break out of the slump and make your way into the top 20% of income earners that you will be more rewarded than you were 45 years ago.