Media clips
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A new report shows the average income of the top one percent of Kentuckians is more than 18.4 times greater than the average income of state residents. Income for the wealthiest one percent of earners in Kentucky was more than $719,012 in 2015, compared to an average income of almost $39,990 for all other Kentuckians. The report from the Economic Policy Institute shows from 2009 to 2015 the top one percent income grew 23.2 percent while everyone else’s income grew only 7.2 percent. Ashley Spalding is a senior policy analyst with the Kentucky Center for Economic Policy. (whole story)
WVXU July 24, 2018 -
Florida has the second highest level of income inequality in the country, according to a new ranking of states published by the Economic Policy Institute. The ranking is based on the ratio between the earnings of the top 1 percent in each state and the earnings of the other 99 percent. In Florida, the average earning of the top 1 percent is over $1.5 million, according to the Institute, while the average earning of the other 99 percent is just over $39,000. The North Port, Sarasota and Bradenton region ranked No. 12 in a list of the most unequal metropolitan areas in the country; the top 1 percent here earns $1.8 million on average, while the average income of the rest is $42,000. The state of New York was ranked as the most unequal state in the country.
Sarasota Magazine July 24, 2018 -
In Lawrence County, the average income of the bottom 99 percent was just under $37,000, compared to $472,200 by the top 1 percent The average annual income for the top 1 percent in Pennsylvania is more than 20 times that of the other 99 percent, while in Beaver County the top earners make 10 times the average income of the rest of the county, a new report states. (whole story)
Ellwood City Ledger July 24, 2018 -
The gap between the haves and have-nots has become significantly wider. According to a new study released by the Economic Policy Institute (EPI), the nation is facing a level of income inequality not seen in 90 years, and the situation is especially acute in New York and Connecticut. In 2015, the Internal Revenue Service determined that the top-earning households in the U.S. – the so-called “1 percent” – took home 22 percent of all income. The peak for this level of income disparity was in 1928, when the record share was 23.9 percent of income. But in the EPI report, titled “The New Gilded Age: Income Inequality in the U.S. by State, Metropolitan Area and County,” New York led the states with the top 1 percent holding a 31 percent share of income, followed by Florida at 28.5 percent and Connecticut at 27.3 percent. Among the nation’s major metro areas, the Bridgeport-Stamford-Norwalk corridor ranked fifth with the top 1 percent holding a 38.6 percent share of income. (whole story)
Westfair Online July 24, 2018 -
Are we reliving the “Great Gatsby” era? A new study cites five states where the top 1 percent have exceeded 1928’s 23.9 percent share of income: According to an Economic Policy Institute (EPI) study of the new “gilded age,” these are the top states with the widest income disparities: (whole story)
Also in the Daily Voice of North Salem, Pound Ridge, Pleasantville, Peekskill, Somers, Tarrytown, Pelham, Chappaqua, Mt. Kisco, Lewisboro, Harrison, Armonk, New Rochelle, Ossining, and Rivertowns.
Scarsdale Daily Voice July 24, 2018 -
The parallels have long been obvious to anyone paying attention. It’s 2018, and young people with tens of thousands in debt are flocking to cities they can’t afford because it feels impossible to launch their adult lives elsewhere. Meanwhile, the rich don’t have to actually confront How the Other Half Lives:When they’re not vacationing away from the masses in places like Newport, Rhode Island—as the Vanderbilts did—the 21st century version of robber barons like Elon Musk and Peter Thiel deign to use their deep pockets to plot escapes into space or design floating Libertarian paradises. Everyone else is stuck on Earth and in failing economies and thus increasingly turning toward populism or socialism. Now a new paper from the left-leaning Economic Policy Institute (EPI) has provided fresh evidence for what we all suspected: We really are living in a new Gilded Age. (whole story)
Vice News July 23, 2018 -
American economic inequality hit a historic peak in 1928, when the country’s richest 1 percent captured nearly a quarter of the nation’s total income. But now, in thirty American metro areas and five whole states, the 1 percent has broken that previous record — and in some cases has doubled it. Economists Estelle Sommeiller and Mark Price released a paper last week through the Economic Policy Institute titled “The new gilded age: Income inequality in the U.S. by state, metropolitan area, and county.” Their research concludes that, on average, the income of American’s 1 percent is twenty-six times higher than the average of the bottom 99 percent. (whole story)
Jacobin July 23, 2018 -
The top 1%in the U.S. take home 21% of all the country’s income, according to the Economic Policy Institute. In Connecticut and New York, the average income of the top 1% was 48 times more than everyone else — largely due to the salaries doled out by Wall Street and the financial sector. Across all 50 states, the top 1% — which includes billionaires like Langone — earn 26.3 times more than the bottom 99%. (includes red map graphic)
Yahoo Finance July 23, 2018 -
New York State has the highest level of income inequality in the country, followed by Florida, Connecticut and Nevada, according to a new study. The Empire State’s richest 1 percent, on average, made more than 44 times what the other 99 percent earned in 2015, the most recent year for which data is available. On average, the top 1 percent brought home $2.2 million in New York, compared to an average of $49,617 for everyone else, according to the report by Washington, D.C.-based Economic Policy Institute, a non-profit think tank. (whole story)
Daily Mail July 23, 2018 -
Just how much do you have to pull in to join the 1 percent? A minimum family income of $421,926, according to a new report from the Economic Policy Institute (EPI), which used the latest available data to analyze how the top 1 percent of earners, and the bottom 99 percent of earners, across the U.S. have fared between 1917 and 2015. In affluent metropolitan areas, however, the threshold is much higher. In New York City, for example, your household needs an annual income of $744,426 to be in the 1 percent of earners. In San Francisco, it’s $943,782. (whole story)
CNBC July 23, 2018