The United States, which prides itself as a land of opportunity, has the fourth-most uneven income distribution among developed nations, according to recently-released data. Only Turkey, Mexico, and Chile had worse income inequality, with Chile ranking as the most unequal overall.
The Gini coefficient measures how much an economy deviates from perfect equality — where everyone has the same income. A score of zero indicates perfect equality, and a score of one indicates extreme inequality. Based on index figures for Organisation for Economic Co-operation and Development (OECD) countries, these are the least equitable countries in the developed world.
The income redistribution structure of each country, which includes taxes, as well as transfers like welfare, social security, and unemployment insurance, can make a big difference in how severe the gap between rich and poor is. In…
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