Common questions about Economic inequality

Short answers, pulled from the story.

What is the ratio between the income of the top 20 percent and the bottom 20 percent of the world's population in 1820?

In 1820, the ratio between the income of the top 20 percent of the world's population and the bottom 20 percent was a modest three to one.

How much wealth did the wealthiest people increase by during the COVID-19 pandemic according to Oxfam's 2021 report?

Oxfam's 2021 report revealed that billionaires saw their wealth increase by $3.9 trillion while the number of people living on less than $5.50 a day likely increased by 500 million.

What percentage of US national wealth did Black people own in 1863 and 2019?

In 1863, Black people owned 0.5 percent of the US national wealth, and in 2019, it was just over 1.5 percent.

Who are the researchers that found higher rates of health and social problems in countries with higher inequality?

British researchers Richard G. Wilkinson and Kate Pickett have found higher rates of health and social problems, including obesity, mental illness, homicides, teenage births, and drug use, in countries and states with higher inequality.

What top marginal tax rates do economists Emmanuel Saez and Thomas Piketty recommend to curb the concentration of wealth?

Economists Emmanuel Saez and Thomas Piketty recommend much higher top marginal tax rates on the wealthy, up to 50 percent, 70 percent, or even 90 percent, to curb the concentration of wealth.