07 Sep '11, 12am

It is not the level of income, but the income equality that is more important to the people in a country. Read my...

Let us look at two hypothetical countries, X and Y X - 90% of the population earn an annual income of $40,000 while 10% earn an average of $120,000 (3 times). Y - 90% of the population earn an annual income of $40,000 while 10% earn an average income of $240,000 (6 times). In X, the top 10% earn 25% of the total income. In Y, the top 10% earn 40% of the total income. Which country give a better life to its people? Most people would probably say that country Y is better - as 90% of the people l earn the same income as X, and it gives the opportunity for the remaining 10% to earn much more. But this reasoning is wrong. The higher income earners of Y can afford to pay higher prices for property and other products and services and push up the cost of living - which creates a negative impact on the remaining 90%. This is why "the rich gets richer and the poor gets poorer". A co...

Full article: http://tankinlian.blogspot.com/2011/09/impact-of-income-i...

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