How is income inequality changing over time?
To find out, we've updated our chart showing the trends we find for U.S. individuals, families and households according to their Gini Coefficient as recorded by the U.S. Census since 1994 in the Annual Social and Economic Supplement it provides for its Current Population Survey, where a value of 0 indicates perfect equality (everyone has the same income) and a value of 1 indicates perfect inequality (one person has all the income, while everyone else has none).
Why only from 1994? That's because the Census only began publishing its data online in an easy to access electronic format after 1993 (note the left hand margin here). The Census has published its older data online, but in the form of scanned documents that require a lot of manual effort to extract the data, which is also not as detailed as the newer versions.
Besides, it's not like the data since 1994 doesn't show the key trends for income inequality in the United States! Going to our chart, here is what we find:
Political Calculations is a site that develops, applies and presents both established and cutting edge theory to the topics of investing, business and economics.
Be the first to read Political Calculation's column. Sign up today and receive Townhall.com delivered each morning to your inbox.
John Ransom and the Social Security Show-- Get Your Social Security Questions Answered | John Ransom
In Other News: Ukrainians Demolish Statue of Lenin – Putin Offers Statue of Himself as Replacement | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 29th, 2014 | John Ransom