Income Inequality

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MinimumWage

[ASND thanks Wintery Knight for that image.]

Minimum Wage:

The evidence indicates that workers initially earning near the minimum wage are adversely affected by minimum wage increases, while, not surprisingly, higher-wage workers are little affected.  Although wages of low-wage workers increase , their hours and employment decline, and the combined effect of these changes is a decline in earned income.”

Journal of Human Resources, 2004, Vol. 39, pp. 424-50.

http://www.nber.org/papers/w7519

and…

“[Dr.] David Neumark, director of the Center for Economics and Public Policy at the University of California, Irvine, said no ‘sensible economist’ would argue for a doubling of the minimum wage…  Neumark said a consensus view is emerging [among economists] that a 10 percent increase in the minimum wage reduces employment among lowest-skilled groups by 1 percent to 2 percent.  Look no farther for evidence of the negative effects of a high minimum wage than Washington and the other states raising the minimum wage: Arizona, Colorado, Florida, Montana, Ohio, Oregon, and Vermont.  All eight states have minimum wages above the federal minimum wage of $7.25.  Seven of these eight states already have unemployment rates above the national median.”

http://www.worldmag.com/printer.cfm?id=19136

and…

The Minimum Wage Is Cruelest To Those Who Can’t Find A Job

http://www.forbes.com/sites/jamesdorn/2013/07/22/the-minimum-wage-is-cruelest-to-those-who-cant-find-a-job/print/

and…

The higher the price of labor, the lower the demand. This is so basic that it defies logic to claim otherwise.

http://www.bloomberg.com/news/print/2013-09-04/can-we-pay-a-minimum-wage-that-makes-everyone-rich-.html

and…

Study: Minimum Wage Hike Would Do Little to Alleviate Poverty

http://freebeacon.com/study-minimum-wage-hike-would-do-little-to-alleviate-poverty/?print=1

and…

Arguably the most important thing in the debate about the minimum wage is that hardly anyone makes it.

http://www.thedailybeast.com/witw/articles/2013/04/27/the-last-office-taboo-for-women-doing-your-business-at-work.html

and…

Raising the Minimum Wage Is No Free Lunch

http://www.usnews.com/opinion/blogs/economic-intelligence/2013/10/21/raising-the-minimum-wage-kills-jobs-for-low-skill-workers

and…

Unintended Consequences of Raising the Minimum Wage

mercatus.org/sites/default/files/unintended-consequences-raising-minimum-wage.pdf

and…

Primer: Minimum Wage and Combating Poverty

http://americanactionforum.org/research/primer-minimum-wage-and-combating-poverty

and…

Businesses Stung by $15-an-Hour Pay

http://online.wsj.com/news/articles/SB10001424052702304202204579252413945322426#printMode

and…

The Minimum Wage Issue…Again

http://www.americanthinker.com/2013/12/the_minimum_wage_issueagain.html

MinimumWage

[ASND thanks Wintery Knight for that image.]

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Americans’ perceptions of income inequality are largely over-inflated when compared with actual census data…

http://www.sciencedaily.com/releases/2013/12/131216080504.htm

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Has Income Inequality Really Risen?

http://www.economics21.org/research/has-income-inequality-really-risen-0

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The inequality illusion

http://www.aei.org/article/economics/the-inequality-illusion/

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‘Income Inequality’ — The Biggest Lie of All

http://pjmedia.com/rogerlsimon/2013/12/09/income-inequality-the-biggest-lie-of-all/?print=1

and…

Conventional (liberal) wisdom on income inequality is factually false

http://t.co/QBsC5S5KQl

and…

Inequality Myths

http://www.cato.org/publications/commentary/inequality-myths

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Ignoring an Inequality Culprit: Single-Parent Families
Intellectuals fretting about income disparity are oddly silent regarding the decline of the two-parent family

http://online.wsj.com/news/articles/SB10001424052702303603904579493612156024266

and…

The Biggest Reason For Income Inequality Is Single Parenthood

http://www.forbes.com/sites/theapothecary/2014/11/19/the-biggest-reason-for-income-inequality-is-single-parenthood/print/

and…

Here is the real war on women: In the U.S., when single women work and are considering marriage, higher rates discourage marriage. Sometimes high tax rates result in women quitting the workforce altogether.

http://www.marketwatch.com/story/its-women-who-suffer-most-from-the-marriage-penalty-2014-04-18

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Upward Mobility Has Not Declined, Study Says

http://www.nytimes.com/2014/01/23/business/upward-mobility-has-not-declined-study-says.html?hpw&rref=business&_r=2

and…

… we tend to measure only realized outcomes, when a more appealing philosophical approach would focus on opportunity.

http://www.aei.org/papers/economics/measuring-inequality-one-size-does-not-fit-all/

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The Poverty of Income Inequality

http://www.frontpagemag.com/2013/dgreenfield/the-poverty-of-income-inequality/print/

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Five Things Everyone Needs to Know about Income Inequality, and What We Can Do about It

http://blog.tifwe.org/five-things-christians-need-to-know-about-income-inequality/

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No, This Report Doesn’t Prove Income Inequality Slows Economic Growth

http://dailysignal.com/2014/08/13/study-doesnt-prove-income-inequality-slows-economic-growth/

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Obama’s Misguided Obsession With Inequality

He uses statistics that ignore taxes and transfer payments. Faster growth is what the poor really need.

http://online.wsj.com/news/articles/SB10001424052702303773704579269990020773098#printMode

and…

Obama: Wrong About Income Inequality

Are the rich getting richer?  Yes. 

Are the poor getting poorer?  No.

http://reason.com/archives/2014/03/17/obama-wrong-about-income-inequ/print

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The Real Pay Gap: In the new economy, just about everyone is worse off

http://www.nationalreview.com/node/375467/print

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Why We Should Wage a War on Immobility Instead of Inequality

http://www.economics21.org/commentary/why-we-should-wage-war-immobility-instead-inequality

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This metric suggests that economic inequality has diminished slightly, rather than increased [over the last 25 years].

http://www.realclearmarkets.com/articles/2012/03/08/the_misleading_tale_of_income_inequality_99555.html

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… the big point here… is that [U.S. income] inequality hasn’t exploded.  The top 1 percent aren’t doing abnormally well by U.S. historical standards.  And that if you want to go back to the Gilded Era of equality, you need to time travel to the 1930s and 1970s—two of the worst decades ever for the U.S. economy.

http://blog.american.com/2011/11/the-chart-that-closes-the-case-on-the-inequality-myth/

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… [U.S.] income inequality has increased somewhat in recent decades, but not exploded; b) that increase is natural given technology and globalization…

http://blog.american.com/2011/10/7-reasons-why-obama-is-wrong-on-income-inequality/

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… [tax] policies aimed at making America more equal by targeting ‘the rich’ are likely to be ineffective, not only because they are aiming at a moving target, but also because so many of these common traits stand outside the bounds of tax policy.

http://taxfoundation.org/article/who-are-americas-millionaires

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The presidential election has given us two myths about the rich. First, that their incomes, and income inequality, are at all-time highs. Second, that the wealthy pay less in taxes than ever, and lower taxes than the rest of us.

http://www.cnbc.com/id/48257611

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… consumption inequality has increased only marginally since the 1980s.  Further, consumption inequality narrows in periods of recessions, such as during the 2007–2009 recession.

    &

… the [income] inequality has [in fact] not widened significantly.

    &

Even in a statistical sense, there is a trend toward narrowing the consumption gap between low-income and other households.

http://www.aei.org/files/2012/06/25/-a-new-measure-of-consumption-inequality_142931647663.pdf

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We will show that much of what has been reported about income inequality is misleading, factually incorrect, or of little or no consequence to our economic well-being.  We will also show that middle-class incomes are not stagnating; in fact, middle-class incomes have risen significantly over the 29 years covered by the [recent] CBO study.

http://www.hoover.org/publications/policy-review/article/123566

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The Inequality Fetish

http://www.nationalreview.com/blogs/print/303683

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… as the income gap between rich and poor families has widened, so has the educational-achievement gap between their children…

http://www.nationalaffairs.com/doclib/20120320_Wehner_Beschel_Indiv.pdf

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… [health] inequality has declined dramatically [in the U.S.] over the past century [without Obamacare]. It has continued to decline even in the past 40 years, a period over which it is generally thought that income inequality has risen considerably.

http://www.aei.org/files/2012/11/19/-slavov-an-alternate-perspective-on-health-inequality_160913166704.pdf

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Poor and Middle Class Incomes Have Increased Significantly

http://www.economics21.org/commentary/poor-and-middle-class-incomes-have-increased-significantly

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Income Inequality: ‘The Defining Challenge of Our Time’

http://www.americanthinker.com/blog/2013/12/income_inequality_the_defining_challenge_of_our_time.html

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Not All Black and White: The Factors Behind Racial Inequality Stats

http://pjmedia.com/blog/not-all-black-and-white-the-factors-behind-racial-inequality-stats/?print=1

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The actual [inequality] gap is between the nonproductive rich — politicians and bureaucrats — on the one hand and on the other the productive of our nation that are the victims of over a trillion dollar heist.

http://www.americanthinker.com/2013/12/the_trillion-plus_heist.html

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5 Ways the Liberal Obsession With Income Inequality Hurts the Poor

http://townhall.com/columnists/johnhawkins/2014/01/04/5-ways-the-liberal-obsession-with-income-inequality-hurts-the-poor-n1771728/print

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Inequality itself is not a particularly potent predictor of economic mobility…

http://www.theatlantic.com/business/archive/2014/01/if-you-really-care-about-ending-poverty-stop-talking-about-inequality/282906/

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Why We Should Wage a War on Immobility Instead of Inequality

http://www.economics21.org/commentary/why-we-should-wage-war-immobility-instead-inequality

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Income Inequality and the NBA: Why not redistribute players’ salaries? Or other people’s incomes?

http://object.cato.org/sites/cato.org/files/serials/files/regulation/2014/4/regulation-v37n1-5.pdf

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