If you are a visual person then this essay is for you.
Notice how the 10% did nearly as well as the 1%.
So it's not exactly the 1% vs the 99%.
It's partly the 10% vs the 90%.
U.S. household wealth passed $100 trillion in the 1st Quarter for the first time ever. $1 trillion was added in the 1s Quarter alone, mostly through a rising stock market.
Never has a nation been more wealthy than the United States in 2018.
The latest report showed that the 1% now captures an average of 26.3 times as much income as the bottom 99 percent in 2015. It's the highest level since 1928.
My browser has "recommended reading pages" it offers me when I open a new blank tab.
Although I usually ignore these as most of them are blatant attempts to entice one to paywall-restricted contents, I found an article from Business Insider which is apropos to several of gjohnsit's essays as regards the price of labor.
Several new studies came out this week that once again demonstrated how the bottom half of the population has been left behind.
When Trump said he was going to Make America Great Again, he was thinking of the Gilded Age, not the 1950's.
You know wealth inequality is bad when even the ruling elites are concerned.
This commentary does not discuss GINI indexes, Quantitative easing, interest rate indexes, or the Laffer curve.
It makes this simple point:
Three (of the) ways that inequality reduces the prosperity of the American people:
1. The direct issue that the wealthy are undertaxed. That money could reduce inequality, going to the rest of America by lowering their taxes and/or invested in them.
Susan Grigsby at TOP wrote an excellent review of a study by Case and Denton which showed a large disparity especially in non-college educated (I would probably suggest "blue collar") white men, suicide, opiate overdose, and death from other groups.
Their report, titled "Rising morbidity and mortality in midlife among white non-Hispanic Americans in the 21st century,” was published in PNAS (Proceedings of the National Academy of Sciences)
