Countries eliminate poverty through tax and transfer programs

Relative to other countries, poverty in the United States is quite high. High poverty levels are a problem both for baseline fairness reasons, but also for a host of welfare-related reasons. Poor people are subjected to higher levels of stress, risk, economic insecurity, and food insecurity. Poor people generally have worse health, decreased access to… Continue reading Countries eliminate poverty through tax and transfer programs

US wealth mobility in one chart

Earlier I shared the Pew Economic Mobility Project’s latest findings on social mobility. The picture isn’t pretty. Kids born into the richest 20% are 10x more likely to wind up in the richest 20% as adults than kids born into the poorest 20%. Not surprisingly, the wealth mobility picture is just as bad: In many… Continue reading US wealth mobility in one chart