(Xinhua) Updated: 2010-08-24 22:36
BEIJING - China's top legislature, the National People's Congress (NPC), has proposed a reform in income distribution be launched as soon as possible, aiming to increase residents' income and narrow the gap in wealth.
Officials of the Financial and Economic Affairs Committee of the NPC said they have completed a research report on distribution of national income and made the proposals to be included in the 12th Five-Year Plan (2011-2015).
The legislature did not release further details on the proposed reforms in income distribution.
The NPC, for the first time in history, completed 15 research reports on 14 major subjects from March to July to provide proposals for the formulation of the critical development plans for the next five years, after top legislator Wu Bangguo called for the research at the annual legislative session.
According to a World Bank report, the Gini Coefficient for China, a main gauge of income disparity surged to 0.47 in 2009, exceeding the "security line" of 0.4, pointing to the unequal distribution of income which could arouse social unrest.
This figure was 0.21 to 0.27 three decades ago. In the primary distribution of national income, the proportion that goes to wages and salaries, the major source for China's mid- and low-income families, has been declining, according to Yi Xianrong, a researcher at the Chinese Academy of Social Sciences.
The proportion of the total income that Chinese citizens receive from the distribution of national income fell sharply to 57.9 percent in 2007, compared with 68 percent 20 years ago, according to the People's Bank of China.
The Gini coefficient is a measure of statistical dispersion developed by the Italian statistician Corrado Gini and published in his 1912 paper "Variability and Mutability" (Italian: Variabilità e mutabilità).
The Gini coefficient is a measure of the inequality of a distribution, a value of 0 expressing total equality and a value of 1 maximal inequality. It has found application in the study of inequalities in disciplines as diverse as economics, health science, ecology, chemistry and engineering.
It is commonly used as a measure of inequality of income or wealth. Worldwide, Gini coefficients for income range from approximately 0.23 (Sweden) to 0.70 (Namibia) although not every country has been assessed.
In the US, an Estate Tax that Republicans referred as a "Death Tax.' although the Estate Tax only effects the top 5000 American families with estates worth more than $1 million, GWB suspended this tax. The suspension will expire in December 2010.
In the short term the GOP tax policies benefit the 'have mores." In the long run, these same tax policies create social instability such as that which occurred during the Great Depression.
source: http://en.wikipedia.org/wiki/Gini_coefficient
http://mapscroll.blogspot.com/2009/04/is-us-becoming-third-world-country.html
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BEIJING - China's top legislature, the National People's Congress (NPC), has proposed a reform in income distribution be launched as soon as possible, aiming to increase residents' income and narrow the gap in wealth.
Officials of the Financial and Economic Affairs Committee of the NPC said they have completed a research report on distribution of national income and made the proposals to be included in the 12th Five-Year Plan (2011-2015).
The legislature did not release further details on the proposed reforms in income distribution.
The NPC, for the first time in history, completed 15 research reports on 14 major subjects from March to July to provide proposals for the formulation of the critical development plans for the next five years, after top legislator Wu Bangguo called for the research at the annual legislative session.
According to a World Bank report, the Gini Coefficient for China, a main gauge of income disparity surged to 0.47 in 2009, exceeding the "security line" of 0.4, pointing to the unequal distribution of income which could arouse social unrest.
This figure was 0.21 to 0.27 three decades ago. In the primary distribution of national income, the proportion that goes to wages and salaries, the major source for China's mid- and low-income families, has been declining, according to Yi Xianrong, a researcher at the Chinese Academy of Social Sciences.
The proportion of the total income that Chinese citizens receive from the distribution of national income fell sharply to 57.9 percent in 2007, compared with 68 percent 20 years ago, according to the People's Bank of China.
The Gini coefficient is a measure of statistical dispersion developed by the Italian statistician Corrado Gini and published in his 1912 paper "Variability and Mutability" (Italian: Variabilità e mutabilità).
It is commonly used as a measure of inequality of income or wealth. Worldwide, Gini coefficients for income range from approximately 0.23 (Sweden) to 0.70 (Namibia) although not every country has been assessed.
US income Gini indices over time
Gini indices for the United States at various times, according to the US Census Bureau:- 1929: 45.0 (estimated)
- 1947: 37.6 (estimated)
- 1967: 39.7 (first year reported)
- 1968: 38.6 (lowest index reported)
- 1970: 39.4
- 1980: 40.3
- 1990: 42.8
- 2000: 46.2
- 2005: 46.9
- 2006: 47.0 (highest index reported)
- 2007: 46.3
- 2008: 46.69
In the US, an Estate Tax that Republicans referred as a "Death Tax.' although the Estate Tax only effects the top 5000 American families with estates worth more than $1 million, GWB suspended this tax. The suspension will expire in December 2010.
In the short term the GOP tax policies benefit the 'have mores." In the long run, these same tax policies create social instability such as that which occurred during the Great Depression.
source: http://en.wikipedia.org/wiki/Gini_coefficient
http://mapscroll.blogspot.com/2009/04/is-us-becoming-third-world-country.html
Subscribe to the Rightardia feed: feeds.feedburner.com/blogspot/IGiu
Netcraft rank: 9779
http://toolbar.netcraft.com/site_report?url=http://rightardia.blogspot.com
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