THE SOURCE FOR GLOBAL INEQUALITY DATA
[Pages:9]WID.WORLD
THE SOURCE FOR GLOBAL INEQUALITY DATA
Sustainable Development Goals: Who is at risk of being left behind?
Dr. Lucas Chancel
Co-Director, World Inequality Lab Lead coordinator, World Inequality Report
Lecturer, Sciences Po Paris
United Nations Headquarters | 9 July 2019
Income inequality rises almost everywhere, but at different speeds
Figure E2a Top 10% income shares across the world, 1980?2016: Rising inequality almost everywhere,
buTtoapt1d0if%feinrecnotmsepesheadrses across the world, 1980-2016
60%
50% 40%
India US-Canada Russia China Europe
30%
Share of national income (%)
20%
1980
1985
1990
1995
2000
2005
2010
2015
Source: WID.wSoorulrdce(2: W01o7rl)d. SIneeeqwuairli2ty0R1e8p.owrtid2.0w1o8r,lFdigfuorred2a.t1a.1s.eSreieeswairn2d01n8o.wteids..world for data sources and notes.
2
trends in Global inCome inequality
Part II
The global bottom 50% grew... but the top 1% captured twice more total growth.
Figure 2.1.4 total income growth by percentile across all world regions, 1980?2016
250% 200%
Bottom 50% captured 12% of total growth
Top 1% captured 27% of total growth
150%
Prosperity of the global 1%
Real income growth per adult (%)
100% 50%
Rise of emerging countries
Squeezed bottom 90% in the US & Western Europe
0%
10
20
30
40
50
60
70
80
90 99 99.9 99.99 99.999
Income group (percentile)
Source: WID.woSrlodu(r2ce0:1W7)o. rSledeInweiqru2a0l1it8y .Rweipdo.wrto2rl0d1f8o,rFmiguorree 2d.e1t.a4i.lsS.ee wir2018.wid.world for data sources and notes.
3
On the horizontal axis, the world population is divided into a hundred groups of equal population size and sorted in ascending order from left to right, according to
AAnnnunaul ialnicnocmoempeerpaedrulatd(u2l0t1(6))
Different inequality trajectories at the national level matter enormously for global poveFritgyureer5a.d1.i3cation
Global average income projections of the bottom 50%, 1980?2050
10 000 8 000
Average income assuming ...
6 000 4 000
Bottom 50% average income 3 100
9 100
... all countries follow EU 1980?2016 inequality trend
6 300
... all countries prolonge their own 1980?2016 inequality trend
4 500
... all countries follow US 1980-2016 inequality trend
2 000 1 600
0 1980
1990
2000
2010
2020
2030
2040
2050
Source: World Inequality Report 2018, Figures 5.1.3. See wir2018.wid.world for data sources and notes.
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Source: WID.world (2017). See wir2018.wid.world for data series and notes.
The worlAd iss bgelcoombainlgizaagtiainotntaxpfrroeegarreesas: ehosw, tthheenrceo'mspaenrsaatceelosers of globalization? to the bottom in corporate taxes
Corp. tax rate
50%
40%
Globalization and tax competition
World average corporate tax rate
MNE profits
20%
15%
30% 10%
20%
5%
10%
Multinational profits
(% of global corporate profits)
0%
0%
1981-89
1990-99
2000-09
2010-18
Notes: This figure charts the unweighted world average corporate tax rate and the share of global corporate profits made by multinational corporations. Multinational profits were around 1.4 trillion in 2015, while global corporate profits were around 7.9 trillion.
Zucman, 2017
5
Part v
taCklinG eConomiC inequality
Top income tax rates are falling too
Figure 5.2.2 top income tax rates in rich countries, 1900?2017
100%
80%
Top marginal tax rate (%)
60%
40% US UK Germany
20% France Japan
0% 1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010
Sources: Piketty (2014) and updates. See wir2018.wid.world for data series and notes.
6
Between 1963 and 2017, the top marginal tax rate of income tax (applying to the highest incomes) in the US fell from 91% to 40%.
As tax rates on multinationals and top earners decline, govts. tempted to increase fiscal pressure on the poor and middle class
Corporate vs. consumption taxes in the EU
50
22
Rise of consumer
taxes
45
21
Top Corporate Tax rate Standard Consumption Tax Rate (VAT)
40
20
35
19
Fall of corporate
30
tax rate
18
25
17
1980 1985 1990 1995 2000 2005 2010 2015
Top Corporate Tax rate
Standard VAT rate
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Concluding remarks
? Extreme inequality is at the heart of unsustainable development patterns ? Tackling extreme inequality is key to end extreme poverty ? To do so, we need to end financial opacity and fix our global tax system
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