Question

Do you think the current distribution of income in the US is too unequal? Why or why not? What criteria do you think should be used to judge the fairness of the distribution of income? Is the final outcome more important than the process that generates the income?

Answer 1

Yes it too high in the USA . According to us census berau report income inequality richead at its highest in 50 years The gini coefficient increase from 48.2% to 48.5% respectively in 2017 and 2018.

Top 10% occupied around 50% of total wealth of USA. Because income earned by top 10-20% people is increasing exponentially in compare to other left population. These top person are occupied political representation, CEO of companies, MD, businessman post etc. So all of these factor making them more and more powerful. 80-90 % population is self dependent or earning very low wages in comparison toyo 10-20% population. Any uncertainty in the global market like Global financial crisis 2008 and pandemic like covid affect these person the most ,whilee they are making market for consumption of good and service produced by upper 10 -20% population.

Us berau of census uses :

Fairness of income criteria used is inequality in household income and compare it with income of top 20% welathy population.

another one is using gini indexindex. Gini index use zero to 100 scale ,if gini index is nearby zero percent than it very very less inequality or no inequality of income.

Yes both process and final outcome matter as process is important for quality data and results for shaping future of economy by using these data in policy formation and also good for political performance of government elected.otherwise bad quality if process may give you unsatisfied data and may harm image of country at global platforms and also make foreign direct investment to divert.