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Consequences Of Rising Income Inequality

Sunday, October 23, 2016 22:25
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(Before It's News)

from the San Francisco Fed

– this post authored by Kevin J. Lansing and Agnieszka Markiewicz

The increase in U.S. income inequality since 1970 largely reflects gains made by households in the top 20% of the income distribution. Estimates suggest that households outside this group have suffered significant losses from foregone consumption, measured relative to a scenario that holds inequality constant. A substantial mitigating factor for the losses has been the dramatic rise in government redistributive transfers, which have doubled as a share of U.S. output over the same period.

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