Perceptions of Economic Inequality

There is a very interesting graph representing the perception of people in the US on the topic of perceived wealth distribution.  The contrast between what is the “actual” wealth distribution and what is the “perceived” and “preferred” wealth distribution is remarkable.

A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the United States. Most thought that it’s more balanced than it actually is. Asked to choose their ideal distribution of wealth, 92% picked one that was even more equitable.

There are more graphs and information on the topic of income inequality that are as equally interesting here.

 

One of the other telling graphs relates to the income tax rate over time.  Specifically the periods perceived as decades of high growth also have significantly higher tax rates.

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