thanks, kelley ---------------
Thought I would direct everyone to an article given to me by our economist from the September-October 1996 issue of Challenge magazine by Timothy Smeeding on America's Income Inequality: Where do we stand which shows that of twenty five industrial nations, the US has the most unequal distribution of any country except the Soviet Union. It was kind of a show-stopper in our social problems class this morning.
Can someone direct me to more recent information concerning lifetime wealth and the estate tax data? I have an older write up of this (average income was $27,000 so it probably is a decade old). This is the data from the estate taxes filed with IRS which show lifetime wealth; 90 percent of all Americans have net wealth of only some $30,000 and half of this group (45 percent) have lifetime wealth of less than $3000 at the time of this earlier information. Anyone seen more recent data?
Thanks.
Ray