1004.Chap6

1004.Chap6 - Chapter six, Social Stratification Division of...

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Unformatted text preview: Chapter six, Social Stratification Division of the Economic Pie 50% 23% 15% 9% 3% Income share of each quintile 5 10 15 20 25 30 35 40 45 50 Top 2nd Middle 4th Bottom Income Income Changes From 1980 to 1999 Top 20% Up 30% Middle 20% Up 2% Bottom 20% Down 21% Incomes shares of Top 20% and Middle 20% 10 20 30 40 50 60 Top 20% Mid 20% '80 '85 '90 '95 '00 '05 Income share received by Top 5% 5 10 15 20 25 1980 1985 1990 1995 2000 2005 Top 5% Income Share received by {Top 20% - Top 5%} 10 20 30 40 50 20%-5% 1980 1985 1990 1995 2000 2005 Family Income, 1980-2005 Median for All, Lower limit for Top 5% (constant dollars) 20000 40000 60000 80000 100000 120000 140000 160000 180000 All Families Top 5% 1980 1985 1990 1995 2000 2005 CEO compensation (top 500 corporations), compared to the average worker Year Ratio 1980 42X 2004 431X Income Income refers to the amount of new money people receive within a given time interval. Examples: Wages and salaries Interest income from savings acct or bonds Dividends from stocks Capital gains from selling stock for more than you paid for it Capital gains from selling investment property for more than you paid for it Wealth (assets minus debts) Wealth is the net value of everything that a person owns at a point in time. House: Value of house minus what owner owes the bank. Cars Stocks, bonds Investment property Rare art, coins, sailboat Second home Wealth inequality Wealth quintile Percent of total personal wealth this quintile has Top 20% 83% Second 20% 12% Middle 20% 4% Fourth 20% 1% Bottom 20% 0% [Actually -.12] Franklin Delano Roosevelt The test of our progress is not whether...
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1004.Chap6 - Chapter six, Social Stratification Division of...

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