Tags: census bureau | income inequality

Census Bureau: Income Inequality Highest in 50 Years

Sen. Bernie Sanders, I-Vt.
Sen. Bernie Sanders, I-Vt. (Ashlee Rezin Garcia/Chicago Sun-Times via AP)

By    |   Thursday, 26 September 2019 11:45 AM

Income inequality in the United States has reached its highest level since the government began keeping track over 50 years ago, according to the Census Bureau.

The Gini Index measures income inequality, where 0 indicates perfect income equality and 1 indicates inequality. The index score for 2018 was 0.485, a slight increase from 0.482 the year before. Although most states showed no statistical change, nine states did see income inequality increase: Alabama, Arkansas, California, Kansas, Nebraska, New Hampshire, New Mexico, Texas, and Virginia.

New York, Connecticut, and Washington, D.C. had the most income inequality last year. Alaska, Iowa, North and South Dakota, and Utah had the lowest levels of inequality.

Democratic presidential candidate Sen. Bernie Sanders, I-Vt., has made reducing income inequality a major part of his wealth tax plan that he released earlier this week. It would impose new tack brackets on the incredibly rich, including an 8% tax on those with more than $10 billion.

"There is no justice when three billionaires are able to own more wealth than the bottom half of the entire country," Sanders said in a tweet on Tuesday.

Sen. Elizabeth Warren, D-Mass., has also released a wealth tax plan targeting income inequality. Hers would impose a 2% tax on individuals with $50 million and 3% on people with more than $1 billion.

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Income inequality in the United States has reached its highest level since the government began keeping track over 50 years ago, according to the Census Bureau.
census bureau, income inequality
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2019-45-26
Thursday, 26 September 2019 11:45 AM
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