Income inequality

Article Abstract:

The gap between the incomes of the poor and the wealthy in the US is growing larger and is greater than in any other industrialized country. For the first time in almost 20 years, in 1997 low unemployment and increases in the minimum wage helped bring earnings of Americans in the lowest part of the pay scale higher. Tax policies and use of stock options in compensation of corporate executives are sending more and more of the wealth of the US to those who have the most and away from the poor and middle classes. If the boom lasts everyone will gain, but the big gap is not going to go away.

Wages, Minimum wage, Income distribution

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The working poor

Article Abstract:

More and more Americans are joining the ranks of the working poor, despite the overall robustness of the US economy. This economic growth has only aided the middle and upper classes, however, with 22 million of the 38 million impoverished Americans living in working households. The gap between the rich and poor is widening and it is becoming increasingly difficult for the poor to realize upward mobility. Republican budget cuts for social services could further erode ay chances the working poor have of escaping poverty.

Social aspects, Compensation and benefits, Demographic aspects, Poverty, Services industry, Service industries, Wealth

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Should the earned-income tax credit for poor workers be cut back?

Article Abstract:

The GOP is attempting cut the earned-income tax credit for poor workers, claiming that the program is rife with fraud. The GOP claims that millionaire divorcees are claiming the credit and that the law needs to be changed to prevent such abuses. Opponents of the cuts point out that the GOP plan would effectively raise taxes on people making as little as $9,500 a year.

Tax credits, Earned income tax credit

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