Friday, August 14, 2009

Income Inequality Is At An All-Time High: STUDY

Let's make this intuitive. Suppose we had $10,000 to distribute to 10,000 people. The current inequality means that 1 (one) person would receive $600. The top ten percent (10%) or 1000 people would receive about half the money ($4970 to be precise). The remaining 90% would receive the other half. So the remaining $5000 would be split among 9000 people. So one person would get $600 while 9000 would have to make do with about 55 CENTS each. (Of course the distribution for the 90% is not linear, so in fact the poorest 20 percent probably have to make do with something like 10 cents each).
Read the Article at HuffingtonPost

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