Equality, or Opportunity?
Mayor de Blasio entered office five years ago on a platform of reducing income inequality in New York City. New data show, unsurprisingly, that he has failed to do so, but income inequality is not a useful measure of the city’s well-being and is not subject to mayoral influence, anyway. The metric that matters is economic opportunity, to which the mayor should pay much more attention.
The Facts You Need to Know
GINI: Measures of relative income equality in the city have not budged much since de Blasio assumed office. Read More.
Minimum: Raising the minimum wage would increase the cost of hiring and hurt low-skilled and younger workers. Read More.
Golden Goose: Income inequality, in fact–as represented by big salaries in finance and professional services–helps pay for the city’s exhaustive social services. Read More.
“Work is a crucial factor to lifting people out of poverty, and as importantly, to breaking the mindset of dependency that mires people in intergenerational poverty.”
Census data shows wealth gap in NYC has *not* shrunk since 2014, unless there's data city is basing this statement on that I'm unaware of. It was .5425 in 2014 & .5496 in 2017. (1 represents the highest level of inequality, zero represents the lowest.) https://t.co/J18ZNFGA7l https://t.co/GVuRJbjeJg— Sally Goldenberg (@SallyGold) September 11, 2019
The Past is Present
“De Blasio has campaigned on the message that income inequality is ‘the defining challenge of our time.'”
And in other news...
“The New York Metropolitan Transportation Authority’s new fare payment system is supposed to make paying for transit rides quicker and easier”