This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: o Most states have sales taxes; most tax few services Currently in Michigan 6% on some things 0% on others Better: 4% on everything o Most taxes are % of $ value Beer + wine taxes are unit taxes: fixed $/Q eroded by inflation Beer tax same since 1962 Better: % basis • Poverty and income dist. o Labor earnings are biggest part o Most households- labor earnings are all or nearly all o Quintile= 20% of pop. o Family: >1 related living together o Households: families + single + unrelated individually o Early 20 th century: big equalization o ↑ in educational attainment o 1950-1975 remarkable stability in US income distribution o Since 1975 big disequalizatioin increased inequality o ↑ in D for highly skilled labor o ↓ in strength of unions...
View Full Document
This note was uploaded on 04/19/2011 for the course EC 201 taught by Professor Ballard during the Fall '08 term at University of Michigan.
- Fall '08