Wednesday, October 30, 2013
The Shortcomings of Using Household Statistics to Buttress One's Arguments Pertaining to Income Inequality
a) Family size has been steadily declining since the 1960s and, with it, the average number of workers per household.............b) There also exists a huge disparity between the top and bottom quintiles in terms of the average number of workers (people, also) per household. Many households in the bottom quintile in fact have zero full-time or even part-time workers and so of course when you compare this fact to the two and sometimes three workers in the highest quintile, it shouldn't be surprising at all that a massive income disparity exists.............c) Families in the bottom quintile receive far more in terms of transfer payments (the obvious exception here being wealthy senior citizens collecting Social Security and Medicare) than those in the highest quintile and rarely is this ever included in the income tallies.............d) People in the highest quintile have significantly more marketable skills and a much higher education level than those those in the bottom quintile and, yes, this is yet another reason for the difference in family income between them.
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