Income Inequality Group Definition

Income inequality is defined as the difference in how income is distributed among individuals and or populations.

Income inequality group definition. Income inequality is how unevenly income is distributed throughout a population. Income is defined as household disposable income in a particular year. It is also described as the gap between rich and poor wealth disparity wealth and income differences or the wealth gap. It consists of earnings self employment and capital income and public cash transfers.

The less equal the distribution the higher income inequality is. Definition of income inequality. Income includes the revenue streams from wages salaries interest on a savings account dividends from shares of stock rent and profits from selling something for more than you paid for it. The united states currently holds 41 6 percent of the world s personal wealth making it the richest nation in the world but has a gini coefficient 42 that is the worst of any oecd.

Income taxes and social security contributions paid by households are deducted. Unlike wealth statistics income figures do not include the value of homes stock or other possessions. The united states wealth inequality which takes into consideration income property and investments is even more pronounced than its income inequality.