Rising Inequality Holding Back Economic Growth, Report Warns

[CherryPanda]

The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric — it's also dramatically holding back economic growth, according to a new global study.

Far from a rising tide lifting all ships, income inequality increases in good economic times as well as bad, Thursday's report from the Organization for Economic Cooperation and Development says.

The OECD, a global watchdog, says that not only has social and political implications but also economic ones.

"Put simply: rising inequality is bad for long-term growth," the OECD concluded in its report, "In It Together, Why Less Inequality Benefits All."

An increase in income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average across a range of its 34 member countries, the OECD said.

The problem is particularly acute in the U.S.: Between 2008 and 2013, real average household disposable income at the top 10 percent rose 10.6 percent, while in the bottom 10 percent it fell 3.2 percent, the OECD said. Austria, Denmark and France are other countries where rising income at the top has been accompanied by falling incomes at the bottom.

The average income of the top 10 percent in the U.S. was 19 times higher than the bottom 10 percent in 2013, far higher than the OECD average of 9.6 times. The U.S. figure rose from just 11 times higher 30 years ago, the OECD said.

The report adds fuel to the argument popularized in French economist Thomas Piketty's 2014 best-seller "Capital in the Twenty-First Century."

Policies to improve women's treatment in the labor market and measures to reverse the growing share of low-quality, "dead-end" jobs are key to reducing income inequality and unlocking more economic growth, the OECD said.

Rising Inequality Holding Back Economic Growth Report Warns - ABC News

An interesting fact, isn't it? It's like we're all in the same boat, and the more just society we have, the more sustainable economic growth we have.
Meanwhile, the rich are getting richer, the poor are getting poorer, and in fact, no one cares.
I wonder what should happen for our society to change its attitude... For as I can see from now, the upper class is not interested in equality, and the lower part of our society likes benefits that it can get from the government. I guess, the middle class are the ones who could change the situation, but they are too busy trying to survive while the country is getting back to a couple of centuries ago.

 

[Stephanie]

oh brother. Blame Obama that is happening. his strapping another Government Entitlement on our backs sure as hell had to help. He's raised taxes on anything the moves, new regulations out the ass to raise monies to feed that MONSTER of a Government..

so put the blame right square in his lap

I wouldn't believe anything out of ABC news if it came notarized on their tongues. same for CBS, NBC, CNN, etc. all DNC propaganda sites. this is precisely what you hear from all of the Democrats so they can fearmonger you into voting for them

 

[Manonthestreet]

 

[Sonny Clark]

The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric — it's also dramatically holding back economic growth, according to a new global study.

Far from a rising tide lifting all ships, income inequality increases in good economic times as well as bad, Thursday's report from the Organization for Economic Cooperation and Development says.

The OECD, a global watchdog, says that not only has social and political implications but also economic ones.

"Put simply: rising inequality is bad for long-term growth," the OECD concluded in its report, "In It Together, Why Less Inequality Benefits All."

An increase in income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average across a range of its 34 member countries, the OECD said.

The problem is particularly acute in the U.S.: Between 2008 and 2013, real average household disposable income at the top 10 percent rose 10.6 percent, while in the bottom 10 percent it fell 3.2 percent, the OECD said. Austria, Denmark and France are other countries where rising income at the top has been accompanied by falling incomes at the bottom.

The average income of the top 10 percent in the U.S. was 19 times higher than the bottom 10 percent in 2013, far higher than the OECD average of 9.6 times. The U.S. figure rose from just 11 times higher 30 years ago, the OECD said.

The report adds fuel to the argument popularized in French economist Thomas Piketty's 2014 best-seller "Capital in the Twenty-First Century."

Policies to improve women's treatment in the labor market and measures to reverse the growing share of low-quality, "dead-end" jobs are key to reducing income inequality and unlocking more economic growth, the OECD said.

Rising Inequality Holding Back Economic Growth Report Warns - ABC News

An interesting fact, isn't it? It's like we're all in the same boat, and the more just society we have, the more sustainable economic growth we have.
Meanwhile, the rich are getting richer, the poor are getting poorer, and in fact, no one cares.
I wonder what should happen for our society to change its attitude... For as I can see from now, the upper class is not interested in equality, and the lower part of our society likes benefits that it can get from the government. I guess, the middle class are the ones who could change the situation, but they are too busy trying to survive while the country is getting back to a couple of centuries ago.

SOLUTION: Elect pro-America minded representatives to serve in government, and STOP electing and re-electing professional politicians to serve in government. Everyone will be a lot better off if we do it.

 

[The Irish Ram]

Cherrry, that is political bulllshit. They want you to believe if they steal enough from those who have worked hard and have done well for themselves, and give it to the poor, then we will have equality and growth.
Stealing from the rich doesn't make the poor rich, it makes the rich poor.
Obama has been stealing from the rich ever since he got into office, and more people are on welfare in this country than ever before.
Iran will become rich by Obama stealing from rich Americans and the not so rich Americans. Poor has nothing to do with it except the rich are moving and taking the jobs they create with them, turning the middle class into the new welfare recipients.

What Obama and Hillary want to do is the opposite of growth. If you elect Hillary, India's middle class will benefit, not Americans. Welcome to the Global Initiative.

 

[Pogo]

oh brother. Blame Obama that is happening. his strapping another Government Entitlement on our backs sure as hell had to help. He's raised taxes on anything the moves, new regulations out the ass to raise monies to feed that MONSTER of a Government..

so put the blame right square in his lap

I wouldn't believe anything out of ABC news if it came notarized on their tongues. same for CBS, NBC, CNN, etc. all DNC propaganda sites. this is precisely what you hear from all of the Democrats so they can fearmonger you into voting for them

I love this kinda post. First half says "Blame O'bama!" -- second half says "It's bullshit!".

Having it both ways: Priceless.

 

[EdwardBaiamonte]

SOLUTION: Elect pro-America minded representatives to serve in government,.

you mean Republicans -right?? since liberals were the ones who spied for Stalin and shipped 30 million jobs offoshore with liberal taxes, unions, and deficits. Then, invited 20 million illegals in to take the remaining jobs and bid down wages. And then, destroyed the family and schools rendering many Americans not fit to work.

isn't thinking fun??

 

[bripat9643]

The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric — it's also dramatically holding back economic growth, according to a new global study.

Far from a rising tide lifting all ships, income inequality increases in good economic times as well as bad, Thursday's report from the Organization for Economic Cooperation and Development says.

The OECD, a global watchdog, says that not only has social and political implications but also economic ones.

"Put simply: rising inequality is bad for long-term growth," the OECD concluded in its report, "In It Together, Why Less Inequality Benefits All."

An increase in income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average across a range of its 34 member countries, the OECD said.

The problem is particularly acute in the U.S.: Between 2008 and 2013, real average household disposable income at the top 10 percent rose 10.6 percent, while in the bottom 10 percent it fell 3.2 percent, the OECD said. Austria, Denmark and France are other countries where rising income at the top has been accompanied by falling incomes at the bottom.

The average income of the top 10 percent in the U.S. was 19 times higher than the bottom 10 percent in 2013, far higher than the OECD average of 9.6 times. The U.S. figure rose from just 11 times higher 30 years ago, the OECD said.

The report adds fuel to the argument popularized in French economist Thomas Piketty's 2014 best-seller "Capital in the Twenty-First Century."

Policies to improve women's treatment in the labor market and measures to reverse the growing share of low-quality, "dead-end" jobs are key to reducing income inequality and unlocking more economic growth, the OECD said.

Rising Inequality Holding Back Economic Growth Report Warns - ABC News

An interesting fact, isn't it? It's like we're all in the same boat, and the more just society we have, the more sustainable economic growth we have.
Meanwhile, the rich are getting richer, the poor are getting poorer, and in fact, no one cares.
I wonder what should happen for our society to change its attitude... For as I can see from now, the upper class is not interested in equality, and the lower part of our society likes benefits that it can get from the government. I guess, the middle class are the ones who could change the situation, but they are too busy trying to survive while the country is getting back to a couple of centuries ago.

The report was authored by a Marxist. Only fools believe looting the wealthy will reduce the amount of poverty.

 

[EdwardBaiamonte]

. Only fools believe looting the wealthy will reduce the amount of poverty.

its not looting its liberals subverting the govt and using it to steal on their behalf at the point of a gun. We live in a free society. If liberals don't want the rich to have so much of their money why don't they peacefully and freely just stop buying great stuff from them ?

 

[Pksimon2007]

The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric — it's also dramatically holding back economic growth, according to a new global study.

Far from a rising tide lifting all ships, income inequality increases in good economic times as well as bad, Thursday's report from the Organization for Economic Cooperation and Development says.

The OECD, a global watchdog, says that not only has social and political implications but also economic ones.

"Put simply: rising inequality is bad for long-term growth," the OECD concluded in its report, "In It Together, Why Less Inequality Benefits All."

An increase in income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average across a range of its 34 member countries, the OECD said.

The problem is particularly acute in the U.S.: Between 2008 and 2013, real average household disposable income at the top 10 percent rose 10.6 percent, while in the bottom 10 percent it fell 3.2 percent, the OECD said. Austria, Denmark and France are other countries where rising income at the top has been accompanied by falling incomes at the bottom.

The average income of the top 10 percent in the U.S. was 19 times higher than the bottom 10 percent in 2013, far higher than the OECD average of 9.6 times. The U.S. figure rose from just 11 times higher 30 years ago, the OECD said.

The report adds fuel to the argument popularized in French economist Thomas Piketty's 2014 best-seller "Capital in the Twenty-First Century."

Policies to improve women's treatment in the labor market and measures to reverse the growing share of low-quality, "dead-end" jobs are key to reducing income inequality and unlocking more economic growth, the OECD said.

Rising Inequality Holding Back Economic Growth Report Warns - ABC News

An interesting fact, isn't it? It's like we're all in the same boat, and the more just society we have, the more sustainable economic growth we have.
Meanwhile, the rich are getting richer, the poor are getting poorer, and in fact, no one cares.
I wonder what should happen for our society to change its attitude... For as I can see from now, the upper class is not interested in equality, and the lower part of our society likes benefits that it can get from the government. I guess, the middle class are the ones who could change the situation, but they are too busy trying to survive while the country is getting back to a couple of centuries ago.

- A rising tide floats all boats.

The problem is, most people don't own a boat.

 

[Pksimon2007]

Cherrry, that is political bulllshit. They want you to believe if they steal enough from those who have worked hard and have done well for themselves, and give it to the poor, then we will have equality and growth.
Stealing from the rich doesn't make the poor rich, it makes the rich poor.
Obama has been stealing from the rich ever since he got into office, and more people are on welfare in this country than ever before.
Iran will become rich by Obama stealing from rich Americans and the not so rich Americans. Poor has nothing to do with it except the rich are moving and taking the jobs they create with them, turning the middle class into the new welfare recipients.

What Obama and Hillary want to do is the opposite of growth. If you elect Hillary, India's middle class will benefit, not Americans. Welcome to the Global Initiative.

- How do you explain the difference between income inequality in the U.S. and elsewhere?

How do you know the income of the rich is not a result of stealing?

 

[Pksimon2007]

SOLUTION: Elect pro-America minded representatives to serve in government,.

you mean Republicans -right?? since liberals were the ones who spied for Stalin and shipped 30 million jobs offoshore with liberal taxes, unions, and deficits. Then, invited 20 million illegals in to take the remaining jobs and bid down wages. And then, destroyed the family and schools rendering many Americans not fit to work.

isn't thinking fun??

- Thinking fun? You ought to try it sometime.

Show me the evidence of 30 million jobs being shipped elsewhere, and why they were shipped.

Evidence. Not preening and self-stroking.

Evidence.

 

[Pksimon2007]

The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric — it's also dramatically holding back economic growth, according to a new global study.

Far from a rising tide lifting all ships, income inequality increases in good economic times as well as bad, Thursday's report from the Organization for Economic Cooperation and Development says.

The OECD, a global watchdog, says that not only has social and political implications but also economic ones.

"Put simply: rising inequality is bad for long-term growth," the OECD concluded in its report, "In It Together, Why Less Inequality Benefits All."

An increase in income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average across a range of its 34 member countries, the OECD said.

The problem is particularly acute in the U.S.: Between 2008 and 2013, real average household disposable income at the top 10 percent rose 10.6 percent, while in the bottom 10 percent it fell 3.2 percent, the OECD said. Austria, Denmark and France are other countries where rising income at the top has been accompanied by falling incomes at the bottom.

The average income of the top 10 percent in the U.S. was 19 times higher than the bottom 10 percent in 2013, far higher than the OECD average of 9.6 times. The U.S. figure rose from just 11 times higher 30 years ago, the OECD said.

The report adds fuel to the argument popularized in French economist Thomas Piketty's 2014 best-seller "Capital in the Twenty-First Century."

Policies to improve women's treatment in the labor market and measures to reverse the growing share of low-quality, "dead-end" jobs are key to reducing income inequality and unlocking more economic growth, the OECD said.

Rising Inequality Holding Back Economic Growth Report Warns - ABC News

An interesting fact, isn't it? It's like we're all in the same boat, and the more just society we have, the more sustainable economic growth we have.
Meanwhile, the rich are getting richer, the poor are getting poorer, and in fact, no one cares.
I wonder what should happen for our society to change its attitude... For as I can see from now, the upper class is not interested in equality, and the lower part of our society likes benefits that it can get from the government. I guess, the middle class are the ones who could change the situation, but they are too busy trying to survive while the country is getting back to a couple of centuries ago.

The report was authored by a Marxist. Only fools believe looting the wealthy will reduce the amount of poverty.

- Ad hominem. Perfect. Exactly what we expected from you.

 

[Flopper]

The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric — it's also dramatically holding back economic growth, according to a new global study.

Far from a rising tide lifting all ships, income inequality increases in good economic times as well as bad, Thursday's report from the Organization for Economic Cooperation and Development says.

The OECD, a global watchdog, says that not only has social and political implications but also economic ones.

"Put simply: rising inequality is bad for long-term growth," the OECD concluded in its report, "In It Together, Why Less Inequality Benefits All."

An increase in income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average across a range of its 34 member countries, the OECD said.

The problem is particularly acute in the U.S.: Between 2008 and 2013, real average household disposable income at the top 10 percent rose 10.6 percent, while in the bottom 10 percent it fell 3.2 percent, the OECD said. Austria, Denmark and France are other countries where rising income at the top has been accompanied by falling incomes at the bottom.

The average income of the top 10 percent in the U.S. was 19 times higher than the bottom 10 percent in 2013, far higher than the OECD average of 9.6 times. The U.S. figure rose from just 11 times higher 30 years ago, the OECD said.

The report adds fuel to the argument popularized in French economist Thomas Piketty's 2014 best-seller "Capital in the Twenty-First Century."

Policies to improve women's treatment in the labor market and measures to reverse the growing share of low-quality, "dead-end" jobs are key to reducing income inequality and unlocking more economic growth, the OECD said.

Rising Inequality Holding Back Economic Growth Report Warns - ABC News

An interesting fact, isn't it? It's like we're all in the same boat, and the more just society we have, the more sustainable economic growth we have.
Meanwhile, the rich are getting richer, the poor are getting poorer, and in fact, no one cares.
I wonder what should happen for our society to change its attitude... For as I can see from now, the upper class is not interested in equality, and the lower part of our society likes benefits that it can get from the government. I guess, the middle class are the ones who could change the situation, but they are too busy trying to survive while the country is getting back to a couple of centuries ago.

The rich getting richer and poor getting poorer is bad for America. Our economy is consumer driven and it is the middle class that's the major consumer.

 

[bripat9643]

Cherrry, that is political bulllshit. They want you to believe if they steal enough from those who have worked hard and have done well for themselves, and give it to the poor, then we will have equality and growth.
Stealing from the rich doesn't make the poor rich, it makes the rich poor.
Obama has been stealing from the rich ever since he got into office, and more people are on welfare in this country than ever before.
Iran will become rich by Obama stealing from rich Americans and the not so rich Americans. Poor has nothing to do with it except the rich are moving and taking the jobs they create with them, turning the middle class into the new welfare recipients.

What Obama and Hillary want to do is the opposite of growth. If you elect Hillary, India's middle class will benefit, not Americans. Welcome to the Global Initiative.

- How do you explain the difference between income inequality in the U.S. and elsewhere?

How do you know the income of the rich is not a result of stealing?

If it is, then why doesn't your ilk have them arrested?

 

[Pogo]

Cherrry, that is political bulllshit. They want you to believe if they steal enough from those who have worked hard and have done well for themselves, and give it to the poor, then we will have equality and growth.
Stealing from the rich doesn't make the poor rich, it makes the rich poor.
Obama has been stealing from the rich ever since he got into office, and more people are on welfare in this country than ever before.
Iran will become rich by Obama stealing from rich Americans and the not so rich Americans. Poor has nothing to do with it except the rich are moving and taking the jobs they create with them, turning the middle class into the new welfare recipients.

What Obama and Hillary want to do is the opposite of growth. If you elect Hillary, India's middle class will benefit, not Americans. Welcome to the Global Initiative.

- How do you explain the difference between income inequality in the U.S. and elsewhere?

How do you know the income of the rich is not a result of stealing?

If it is, then why doesn't your ilk have them arrested?

A better idea: why don't we send a little kid with jelly smeared all over his face to run around incoherently yapping at their heels until.they voluntarily toss their money on the floor just to escape?

Shouldn't take long, and they give it up voluntarily. Win-win.

 

[EdwardBaiamonte]

How do you know the income of the rich is not a result of stealing?

The Marxist class warfare double thinking libcommie puppet scumbag would love you to think that when you buy software from Bill Gates, Gates is stealing from you.

 

[EdwardBaiamonte]

The rich getting richer and poor getting poorer is bad for America.

so why not end the liberal attack on the family and schools that renders so many Americans unfit to be middle class??

 

[EdwardBaiamonte]

Show me the evidence of 30 million jobs being shipped elsewhere, and why they were shipped.

How many jobs do you think liberals shipped off shore with the highest taxes in the world??

 

[EdwardBaiamonte]

- A rising tide floats all boats.

The problem is, most people don't own a boat.

yes its hard to get the money for a boat after the liberals have destroyed your family and schools, shipped your jobs off shore, and invited 20 million illegals to take the remaining jobs and bid down the wages of those jobs.