The New York City Independent Budget Office is just out with an analysis (pdf )of income distribution in the city. It’s no surprise that it’s very unequal. The surprise is that it’s far more unequal than Brazil’s. Full details are available in the letter—which was in response to a request from City Council member James Oddo—but here are some highlights: The poorest tenth (decile) of the city’s population has an average income of $988, and claim 0.1% of the city’s total income. Since the source of this data is tax returns, the very… Read More