Tag Archives: income inequality

Income Inequality in NYC Extremely Depressing

New York Times reports the gap between rich and poor in NYC is widening further. Median income for the bottom fifth was $8,844. Median income for the top fifth was at a staggering $223,285.

What can be done? Sam Roberts of the New York Times interviewed Jilly Stephens, executive director of City Harvest, which helps get emergency food to hungry New Yorkers. jilly Stephens is in a unique position, because she runs a charity for the poorest in NYC, while she takes a salary for herself that places her in the richest fifth, earning $294,528 in total compensation in 2010. Her take on the problem? “The statistics demonstrate quite clearly that our most vulnerable neighbors are far from a recovery.”

Yes, she should know.

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Are we ALL the 1 percent?

Despite confusion of the Occupy Wall Street protests, they have a point. For those who would like some facts, here they are:

According to the CIA World Fact Book rank of income inequality, the U.S. is slightly better than in Bulgaria, but we’re worse than Iran, China, and Russia.  As a democracy, that should be embarrassing.

Here’s how income is actually distributed nowadays:

If you’re one of the peons in light blue, don’t feel bad, because you’re STILL at the tops from a global perspective. According to the Global Rich List, a salary of just $35,000 will place you squarely in the Top 5%. Starting to feel like a greedy ne’er-do-well? You can give a donation to help someone truly in need.

$35,000 Income Puts you in the TOP 4.62%