Acton Institute Powerblog Archives

Post Tagged 'Income distribution'

5 victims of the $15 minimum wage

As protests for a $15-per-hour minimum wage continue to rage across the country, cities like Seattle and states like California and New York have already begun to adopt such schemes. But alas, prices are not play things, and such measures are bound to reap a range of deleterious effects, from raised consumer prices to increased unemployment to reduced working hours to outright business closures. Continue Reading...

Do the wealthy pay their fair share of taxes?

During her presidential campaign, Sec. Hillary Clinton has repeatedly said she’d implement a tax system in which the wealthy “pay their fair share in taxes.” Expecting the rich to pay what is “fair” is not asking to much of them. Continue Reading...

The most surprising fact about American poverty

Every year, the U.S. Census comes out with its report on incomes and poverty. And every year the same finding repeatedly surprises me. As economist David Henderson says, the report “always shows that there is mobility between income categories, even in the short run, and that poverty is temporary for most people in America who experience it. Continue Reading...

7 Figures: Income and poverty in the U.S.

Yesterday the U.S. Census Bureau released its latest report on income and poverty in the United States. Here are seven figures from the report you should know about: 1. Real median household income increased 5.2 percent between 2014 and 2015—from $53,700 to $56,500. Continue Reading...

A Policy Solution to Fix Inequality and Boost GDP

Andrew Biggs of AEI has a piece up today at Forbes addressing the gender pay gap and provides a neat solution: “forbid women from staying at home with their children.” As Biggs points out, such a policy would address perhaps the greatest root cause of gender pay inequality: varied work experience attributable to choices women make. Continue Reading...

How Growth Rates Lead to Flourishing

Why do some countries grow richer faster than others? How can we explain wealth disparities between countries? The answer: Growth rates. Economist Alex Tabarrok explains how even small changes to growth rates can have a big effect on the economy of a country—and on the flourishing of its citizens. Continue Reading...

Why Does the New York Times Want to Hurt the Poor?

While it may be difficult to imagine, there was once an era when the New York Times was concerned about the poor. Consider, for example, a 1987 editorial they ran with the headline, “The Right Minimum Wage: $0.00.” As the editors noted at the time, [Raising the minimum wage] would increase unemployment: Raise the legal minimum price of labor above the productivity of the least skilled workers and fewer will be hired. Continue Reading...

Why Poverty Figures Can Be Misleading

What if told you that between 90-100 percent of Americans are living in “healthcare poverty.” You would probably object and say that while the country certainly has a healthcare crisis, my numbers are surely inflated. Continue Reading...