from Press TV:
The “Inequality Boom” is what social scientist Sheldon Danziger, President of the Russell Sage Foundation here in New York, uses to describe the current condition of 100 million Americans – if the cost of housing, transportation and healthcare were subtracted from the median income of full-time workers. It’s a boom because under Danziger’s hypothesis, 100 million Americans is a whopping 33 percent of the total population; the Census Bureau figures only 15 percent of Americans, or 45 million, are below the $24,000 annual income level for poverty in a family of four.
Danziger has been on the poverty solution academic beat almost since Pres. Lyndon B. Johnson declared war on poverty 50 years ago, and is now ensconced at one of the oldest foundations in the nation, established in 1907 for “the improvement of social and living conditions in the United States.” Danziger’s work is cut out for him since there is growing income inequality in the US as the political controversy over reducing the level of government transfers promises to increase poverty and widen income disparity.