New York Makes "Most Unequal" Cities List

I was very unsurprised to see New York and its surrounding suburbs make the Forbes list of the 10 Most Unequal Cities.

They’ve come up with this list by using a measure known as the GINI index, which determines how far apart the top percentage of earners are from the bottom.

Many have remarked that living in Manhattan itself is almost like living in a “gated community”.  This study seems to bear that out to a degree.

Here’s what New York looks like in these terms according to Forbes:

New York, N.Y.

New York-Northern New Jersey-Long Island, NY-NJ-PA Metro Area

Annual income of bottom 20%: $12,596
Annual income of second 20%: $36,802
Annual income of top 20%: $252,076
Annual income of top 5%: $477,662

Other cities in the Top 10 include Naples (Florida), Athens (Georgia), College Station (Texas) and Shreveport (Louisiana).

Income disparity in America is the one enduring thing George W actually can take credit for.  Unfortunately for those on top, Obama‘s on a mission to tax this disparity back to the Stone Age.  The pendulum always swings too far in both directions, this time, it’s heading hard left.

Sources:

America’s Most Unequal Cities  (Forbes)