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    This document summarizes several key facts about income inequality: 1) Capital gains are taxed at lower rates than wages and salaries, costing the government an estimated $644 billion over 10 years due to inheritance tax rules. 2) By 2016, the top 1% will control over 50% of global wealth. 3) Outsourcing of manufacturing jobs to countries like China has eliminated over 3.2 million US jobs since 2001, worsening income inequality. Questions are raised about the political influence of donors on legislation and the role of outsourcing in wealth inequality. Problems identified include low tax rates on the rich, outsourcing of jobs, and the need for stronger social programs.

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    This document summarizes several key facts about income inequality: 1) Capital gains are taxed at lower rates than wages and salaries, costing the government an estimated $644 billion over 10 years due to inheritance tax rules. 2) By 2016, the top 1% will control over 50% of global wealth. 3) Outsourcing of manufacturing jobs to countries like China has eliminated over 3.2 million US jobs since 2001, worsening income inequality. Questions are raised about the political influence of donors on legislation and the role of outsourcing in wealth inequality. Problems identified include low tax rates on the rich, outsourcing of jobs, and the need for stronger social programs.

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    © All Rights Reserved
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    36 views2 pages

    Factsheet

    Uploaded by

    api-302076603
    This document summarizes several key facts about income inequality: 1) Capital gains are taxed at lower rates than wages and salaries, costing the government an estimated $644 billion over 10 years due to inheritance tax rules. 2) By 2016, the top 1% will control over 50% of global wealth. 3) Outsourcing of manufacturing jobs to countries like China has eliminated over 3.2 million US jobs since 2001, worsening income inequality. Questions are raised about the political influence of donors on legislation and the role of outsourcing in wealth inequality. Problems identified include low tax rates on the rich, outsourcing of jobs, and the need for stronger social programs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Income Inequality Fact

    Sheet
    Taxes on capital gains (capital gains be taxed up to 23%
    while wages and salary can be taxed up to 39%)
    Step-up rule: Where someone inherits a stock, they pay the
    tax on the gains made from when they started owning it, not the gains from their
    deceased parents, this is projected to cost the government an
    estimated $644 billion in 10 years.
    By 2016, the top 1% will have more than 50% of the total
    global wealth

    china

    has costed more than


    3.2 million jobs, 2.4
    million of which were
    manufacturing in 2001-2013
    manufacturing jobs decreased from 12 million to 8 million from 1982 to 1999
    Out of the 3.2 million jobs lost over 500,000 of them were from California
    Raising the minimum wage will not help solve income inequality.

    Questions:
    Why isnt the government passing legislation,
    when we know the problem behind the wealth
    inequality?
    Are political officials too afraid to lose their
    donors?
    How have the outsourcing of jobs played a role in the wealth
    inequality?
    Problems we need to solve:
    Low tax rates on the rich

    Outsourcing of American Jobs


    Social programs for the poor

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