Trends
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Recession Could Cause Large Increases in Poverty and Push Millions into Deep Poverty
November 24, 2008
[T]he current downturn is likely to cause significant increases both in the number of Americans who are poor and the number living in "deep poverty," with incomes below half of the poverty line...There are a series of steps that federal and state policymakers could take to soften the recession’s harshest impacts and limit the extent of the increases in deep poverty, destitution, and homelessness.
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Podcast: How Will the Economic Downturn Affect Poverty? Can Today's Safety Net Cope?
November 24, 2008
This podcast discusses the findings of an analysis, which: examines the impact of recent recessions on poverty and deep poverty (incomes below half of the poverty line); discusses recent changes in the safety net that could weaken its ability to address the increase in need during this downturn; and outlines steps Congress can take as part of an upcoming economic recovery … -
Video: Testimony of Robert Greenstein on Widening Income Inequality in the United States
October 29, 2008
Thank you for the invitation to testify about widening income inequality in the United States, including the impact of recent developments in financial markets and the economy. As former Federal Reserve chairman Alan Greenspan has said, “this is not the type of thing which a democratic society — a capitalist democratic society — can really … -
Average Income in 2006 up $60,000 for Top 1 Percent of Households, Just $430 for Bottom 90 Percent: Income Concentration at Highest Level Since 1928, New Analysis Shows
Revised October 22, 2008
The Piketty-Saez data has been updated. An analysis of the new data as of March 7, 2012 can be found here: http://www.cbpp.org/cms/index.cfm?fa=view&id=3697. Average pre-tax incomes in 2006 jumped by about $60,000 (5.8 percent) for the top 1 percent of households, but just $430 (1.4 percent) for the bottom 90 percent, after … -
How Robust Was the 2001-2007 Economic Expansion?
Updated August 29, 2008
Proponents of the 2001 and 2003 tax cuts often argue that the economic and employment growth of the past several years establishes that these tax cuts “worked” and had strong beneficial effects. More recently, some have also argued that, with growth slowing, new tax cuts are needed and would reinvigorate the economy. It now appears likely that the economic expansion that … -
Poverty and Share of Americans Without Health Insurance Were Higher in 2007 - And Median Income for Working-Age Households Was Lower - Than at the Bottom of Last Recession
August 26, 2008
The number of Americans in poverty climbed by 816,000 in 2007, while the poverty rate remained statistically unchanged, overall median income rose modestly, and the number and percentage of Americans without health insurance fell somewhat, according to Census data issued today. But the poverty rate remained higher, median income for working-age … -
What to Watch For in the New Census Income and Poverty Numbers
August 21, 2008
On August 26 the Census Bureau will release findings on household income and poverty for 2007. These figures may well show that median income increased modestly and poverty declined modestly in 2007, the typical pattern for years well into an economic expansion. While improvements in incomes and poverty would … -
Testimony of Robert Greenstein on Widening Income Inequality in the United States Before the Subcommittee on Workforce Protections Committee on Education and Labor
July 31, 2008
Thank you for the invitation to testify about widening income inequality in the United States. As former Federal Reserve chairman Alan Greenspan has said, “this is not the type of thing which a democratic society — a capitalist democratic society — can really accept without addressing," and I commend the subcommittee for holding this hearing. … -
Video: CNN Features Elizabeth McNichol on Rising Income Inequality
April 23, 2008
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State Fact Sheets: Income Inequality Over the Past Two Decades
April 9, 2008
Income Inequality Within the States: Ratio: Incomes of Top Fifth of Families Compared to Incomes of Bottom Fifth of Families State-specific fact sheets containing information on income inequality over the past two decades, including the changes in average incomes and income ratios, are provided through the links below. … -
Pulling Apart: A State-by-State Analysis of Income Trends
April 9, 2008
I. Executive Summary A state-by-state examination of trends in income inequality over the past two business cycles finds that inequality has grown in most parts of the country since the late 1980s. The incomes of the country’s highest-income families have climbed substantially, while middle- and lower-income families have … -
Press Release: Income Inequality Grew in Most States Over Past Two Decades
April 9, 2008
The gap between the richest and poorest families, and between the richest and middle-income families, grew significantly in most states over the past two decades, according to a new study by the Center on Budget and Policy Priorities and the Economic Policy Institute. In fact, the nation’s …
