The data is in: Shared growth, not top-heavy growth, helps the poor. The real income of the bottom 50 percent in America declined by 1 percent between 1978 and 2015, amid a growing U.S. economy.
In the years after World War II, average Americans got ahead. Now Americans are getting headaches — from a ferociously top-heavy distribution of the nation’s income.
America’s highest earners will be rushing to maximize their 2016 incomes if Democrats sweep in November. But what happens next will be what really matters.
A slick new ad campaign from America’s most notorious billionaires is tugging at our heartstrings — and distorting the debate over inequality. The good news? We have a new antidote.
Everybody knows that the United States has become much more unequal since 1980. Can we expect the nation to get still more unequal? Unfortunately, yes. With top 1 percent incomes growing faster than the incomes of everyone else, increasing inequality will be inevitable.
A bold new egalitarian take on our modern economy from France has joined a powerful already published rendering of inequality’s toll — on our daily lives — from the UK. Blend the themes from these two works into our politics and watch our modern plutocracy start shaking.
The exceedingly comfortable who sit in America’s richest 1 percent have nearly fully regained the outsized share of the nation’s income they held just before the economy cratered five years ago. So report economists Emmanuel Saez and Thomas Piketty, based on an analysis of IRS data.
Rising inequality, newly released data from the U.S. Census Bureau make plain, has left America’s metropolitan areas considerably less mixed by income. Today’s affluent appear much less likely to live in multi-income neighborhoods than they did a generation ago.
So few Americans are cheering America’s rising productivity, a new Economic Policy Institute report suggests, because so few Americans are sharing in the new wealth that boosts in productivity have been creating over the past three decades. That wealth has gone largely to the top.