ISS 215 Chapter Notes - Chapter lect. 4: Racialization, Internal Revenue Service, Working Poor
23 Sep 2015
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Money income: money from virtually all sources (wages, social security, welfare, pensions: advantages of total money income when assessing economic inequality: More immediately quanti able than other measures (such as real estate) Income is highly valued in u. s. society and serves as a base on which people are evaluated by others. Income inequalities saturate and are re ected in several other economically related areas. Income is only a partial measure of a family"s/ individual"s economic well-being: does not include value of stocks, real estate, or non-cash economic assets. If it is current income, it does not take into account the income trajectory of an individual. Some of the estimates of income are based on pooled ndings from several government studies that are not always identical in measures of income. The u. s. census bureau says that income is underreported with some sources of being income being more likely to be reported than others: ex.
