Adjusting Quote by Janet Yellen
“After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. By comparison, the average real income of the other 95% of households grew less than 10%.”
About This Quote
Source Report: US Treasury, 2015
Top 5% households saw income grow far faster than the rest, widening inequality.
In simple terms: Rich grew 38%, others <10% since 1989.
Key Takeaway
Address income disparity through policy.
Themes
inequality
income growth
economic policy
wealth gap
Mood
concerned
analytical
Type
economic
policy
When to use this quote
- tax reform
- minimum wage
- education funding
- wealth taxes
Key Concepts
progressive taxation
social mobility
labor market
wealth distribution
Questions to Reflect On
- What policies could reduce the gap?
- How to ensure growth benefits all?
A Different Perspective
Policy changes may face political opposition.
