Income inequality in the United States is in the spotlight for the upcoming presidential election. However, other countries around the world are plagued with a similar problem
“This is happening in every country- a top-end pulling away,” Director of the Institute of Research on Poverty, Timothy Smeeding said. “It is just much bigger in the United States.”
Countries around the world are experiencing the same increase in the national income being shared by the top 1%, the Economist report, “For Richer, For Poorer” stated.
Strictly focusing on income inequality, South Africa ranks the highest followed by Brazil, China and then the United States, the Economist report said. However, the United States ranks the highest based on market income.