Wednesday, December 3, 2014

Enigma of Income inequality

Something is fishy about income inequality. According to US Congressional Budge Office, top 20% households earn 10 times more income than the lowest 20% and pay 11 times more tax. However, when taking government subsidy into account, top quintile households pay $46,500 tax while lowest quintile earn $8,650. Income inequality is a hard fact or just a figment of imagination? 

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