Income anyone?

I guess the income gap between men and women is now making “trendy headline news” as Yahoo! reports on the worst offenders of the United States.. surprisingly, they claim it is Wyoming(Yahoo!, 2012).  Personally, I would have thought it might have been something like Alaska where there are twice as many men as there are women, but what do I know(NationalAtlas.gov)? Of course, there are many factors effecting the reasons behind why the disparity persists and how to change it. CNN News’ article “Gap Remains Between the Sexes When it Comes to Income”(2012) discusses not only why the gap persists, but what the Obama Administration plans on doing about it. According to the article, many things are changing in the modern-woman’s life. More women today are college educated, having children later life, and not getting married. Because of this, any policies put into place to ensure equal pay for women will need to be flexible and definitely not a “one size fits all”. This is also true for policies that will be implemented for other minority groups.

Not only are women experiencing changes, but the poor are experiencing a greater income gap from the rich. The best discussion of this disparity that I have found is at Propublica.org. The article at this site titled “America’s Growing Income Gap, By The Numbers”(2012) not only describes the how’s and why’s of the disparity, but also gives things to take into consideration that can change these factors. Some examples would be a person with less annual income having more in savings while a person with more income may have more things to pay for.. Makes sense. However, even with these things in mind, the article claims that the gap is growing between the rich and poor. There are even some nifty graphs to look at and a fun interactive map to explore how severely effected your geographical area is by this gap. Of course, there is still one type of income gap to discuss: racial.

The income disparity between whites and blacks is not getting any better, according to Julia Isaacs. She did a study for the Brookings Institute, using the data from the censuses of the last thirty years. She discovered that although incomes have increased for both whites and blacks, it has increased much less significantly for black families(Isaccs, J., 2007). On the flip side, a study done by the Pew Research Center(2012) reveals that Asian Americans make more than white americans do. The study even goes on to say that they are also considered to be happier overall. Who said money couldn’t buy happiness?

For a much more in depth analysis (though not quite as up to date) of the income gap, William Sundstrom has a very interesting article titled simply “The Income Gap”.

REFERENCES:

Stropoli, R., (2012). Wage Inequality in the U.S. Persists. Yahoo! Finance. Retrieved on 07/18/2012 from: http://finance.yahoo.com/blogs/the-exchange/wage-inequality-u-persists-181752413.html

US Census Bureau. (2000). Population by Sex for the United States 1990 and 2000. Retrieved on 07/18/2012 from: http://www.nationalatlas.gov/articles/people/IMAGES/gender-tbl1.gif

Goyette, B. (2012). America’s Growing Income Gap, By the Numbers. ProPublica. Retrieved on 07/18/2012 from: http://www.propublica.org/article/the-u.s.s-growing-income-gap-by-the-numbers

Isaacs, J., (2007). Economic Mobility of Black and White Families. Brookings Institute. Retrieved on 07/18/2012 from: http://www.brookings.edu/~/media/research/files/papers/2007/11/blackwhite%20isaacs/11_blackwhite_isaacs.pdf

Pew Research Center. (2012). The Rise of Asian-Americans. Retrieved on 07/18/2012 from: http://www.pewsocialtrends.org/2012/06/19/the-rise-of-asian-americans/

Sundstrom, W., (1997). The Income Gap. Santa Clara University. Retrieved on 07/18/2012 from: http://www.scu.edu/ethics/publications/iie/v9n3/income.html

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