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Chapter 5

Week 5 - Grabb and Guppy Chapter 5 SOC220.docx

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Department
Sociology
Course
SOC220H1
Professor
Josh Curtis
Semester
Fall

Description
Week 5 – Grabb and Guppy Chapter 5 Income  Patterns of economic inequality are important because they reveal the consequences of various social  processes and political decisions  The abolition of minimum wage legislation, resulting in higher profits for employers and lower pay for  workers, does not affect everyone equally  From figure 5­1 charts o Rising real incomes year upon year from 1951 to 1979 o And income stagnation from 1980 through 1996, with a modest rise in the late 1990s and early  2000s  The growth of real income for families from the 1950s through the 1970s reflects a period of sustained  and unprecedented expansion in the Canadian economy   The growth was largely based on technological advances and an increasingly highly skilled labor force Distribution of income: Quintiles  A common way to measure income distribution is to divide the population into a small number of  equal­size groups, usually fifths, and then examine each group’s relative share of the total income  Pg.84 As table 5­1 shows, for the top quintile this turns out to be 46.7% in 2005. In other words, of all  money earned in Canada in 2005, 46.7% of it was earned by the wealthiest 20% of families  The 20% of families at the end of the line, shared a meager 4.1% of all income Transfer and taxes  When only market income is considered, the lowest quintile receives only 2.1% of all income, while  the highest quintile earns more than half (51.1%)  What high­income earners pay in the form of proportionally higher taxes goes into the pockets of  poorer families as proportionally higher transfers. The end result is a more equitable distribution of  income  Before transfers and income after taxes shows the effect income tax has on national income, and the  redistribution characteristic of the welfare
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