Data was released Thursday morning by the Census Bureau concluding a significant widening gap in income distribution for many states, reflecting a decades-long trend as more wealth shifts to the wealthiest Americans. This is a hot-topic issue in the political arena, especially with the upcoming Presidential election. Republican Presidential candidate Mitt Romney is in strong opposition to taxing the wealthy, while President Obama supports reigning in tax revenue.
Income inequality is becoming more perverse, while tax revenue is a Norquist-style hands off topic from Republicans.
The South and parts of northeastern American states experience the greatest degree of income inequality.
The Gini coefficient, the standard measurement of income inequality, climbed by a statistically significant margin in 20 states from 2010 to 2011, the Census Bureau reported. The index was statistically unchanged in all 30 other states and the District of Columbia.
This isn’t a surprise, as income inequality has continually expanded in recent years. U.S. household income inequality has increased about 18 percent since 1967, with much of the growth occurring in the 1980s, according to another Census Bureau report published earlier this year.
Just yesterday Mitt Romney said:
The question of this campaign is not who cares about the poor and the middle class. I do. He does. The question is who can help the poor and the middle class. I can! He can’t!” Romney told about 1,000 cheering donors who spent as much as $50,000 to attend a fundraising luncheon here.
Prove it, Mitt. Take the burden off of the middle class. As reported here, A new study was released by the nonpartisan Congressional Research Service which found that over the past 65 years, tax cuts for the rich have not led to economic growth and instead are linked to greater income inequality in the United States. In addition, nonpartisan organizations have analyzed Romney’s tax plan, concluding that it shifts the burden from high earners onto the middle class. Romney said that was “garbage.” I say nothing is ‘trickling down’.
Governing.com also has a graph and a ‘click a state display’ to show the data.