Income Inequality in Connecticut

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Gini Coefficient

Connecticut is one of the wealthiest states in the country with the greatest percentage of households earning $200,000 or more (7.87%). Its Gini coefficient is .480, making it the second most unequal state in the nation narrowly behind New York whose gini coefficient is a .502. "According to a 2008 study from the Economic Policy Institute and the Center on Budget and Policy Priorities, income in Connecticut increased by $52,439, or 45%, to $169,378 for the top fifth of Connecticut households, while the bottom fifth’s income decreased $4,437, or 17%, to $21,133, from 1989 to 2006."[1]

Income Inequality

In Connecticut's Fairfield County, income inequality is extremely prevalent. Mean family income as of 2008 was $157,953, almost $70,000 higher than mean family income in Virginia. With such a huge mean family income, it must be noted that you'd have to combine the incomes of 78.5% of Fairfield County's poorest to equal the income of the richest 10%. Interestingly, the mean income of the poorest 10% of Eastern Connecticut families is the second highest in the state, and the mean income of the poorest 10% of Fairfield County families is lower than in both the North Central and Eastern Connecticut regions. Thus, the extreme inequality in Fairfield county reflects both hard times for the poorest families and good times for the richest.[2]

Counties.JPG[3]

Related WikiPage: Connecticut Among Worst in Income Inequality

Inequality in Bridgeport

Poor people, according to the data, are about as poor here as the rest of the country. It's the rich people who are on a whole different level, skewing the data so it looks as bad as it possibly can.

According to the numbers, if the Bridgeport metropolitan area were a nation unto itself, its economic equality ranking would be the 12th worst in the world, coming in behind, for instance, Zimbabwe.

There is a huge and growing wealth gap in this country, and around here it's more visible than anyplace else. But the experience of the past few decades shows that only one side of the wealth chasm is bothered by that, and it's not the side in a position to do anything about it. [4]

Poverty reduction in Connecticut

Connecticut passed legislation establishing a state goal to reduce poverty by 50% by 2014. The state also developed a Child Poverty Council, to monitor gains and loses and ways to improve child poverty reduction. The Prevention Council and the Child Poverty Council, have joined together to focus on poverty prevention strategies. Connecticut has agreed to develop a results-based accountability model for all state contracts tied to poverty reduction. Therefore, accountability and outcomes falls on the state and local levels. The state will implement proven poverty reduction strategies with an untapped federal funding stream from SNAP E&T. [5]

Poverty Risks in Connecticut

Children living in poverty are exposed to many health risks. Some of the dangers the poor are in danger of include low birth weight, bacterial meningitis, infectious diseases, asthma, anemia, stunted growth, and obesity. With this being said, children that are in poverty are three times more likely to die during their youth. Poor children lack proper nutrition, housing, and healthcare. Poor children on average, score lower on math and reading tests then children not living in poverty. It is found the people living in poverty are lacking mentally, physically and socially. Poverty is costly for consumers, businesses and the state of Connecticut. Poverty costs per child prevent $11,800 for future production. The Connecticut labor force is projected to lose up to $1.1 billion in future money. [6]

References

  1. Stockdale, Charles,[1], "The States with the Worst Income Inequality". Retrieved April 18, 2012.
  2. Randolph, Susan,[2], "How Unequal is CT Income". Retrieved April 18, 2012.
  3. http://www.ctmirror.org/node/14437
  4. http://www.ctmirror.org/node/14437
  5. http://www.cga.ct.gov/coc/PDFs/poverty/poverty_powerpoint_10-09.pdf
  6. http://www.cga.ct.gov/coc/PDFs/poverty/poverty_powerpoint_10-09.pdf
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