Excessive Economic Inequality Most Americans feel there’s too much inequality in he United States. Roughly half say that addressing this inequality requires making substantial changes to the economic system. Despite this, 70% of those who feel there is too much inequality also feel that some amount is inevitable and acceptable. 42% of Americans state that reducing inequality should be a high priority for the federal government. Among these, a large majority feels that the issue should be prioritized for two reasons: The influence economic inequality gives to the wealthy.The limits it places on the opportunities of others. While they feel…
Author: Dennis Prager Esti
Over recent decades, the growth in income has been slanted toward upper-income American households. While this is occurring, the middle class has been simultaneously shrinking. Consequently, more aggregate income is now making its way to upper-income household while the portion going to lower-income and middle-income households is shrinking. The proportion of Americans in middle-income households has also decreased, dropping from 61% in 1971 to 51% by 2019. Since 1971, each decade has seen fewer and fewer adults living in middle-income households. This decline does not signify total regression, though. Between 1971 and 2019, the proportion of adults in the upper-income…
Scarcely a decade after the end of 2009’s Great Recession, the US economy is starting to improve on some fronts. With 110 consecutive months of employment growth, the labor market is setting post-WWII records. November 2019’s unemployment rate of 3.5% is a low not seen since the 1960s. Household incomes have also rebounded. Not all economic markers are in robust shape, though. This century, household incomes have not grown strongly, and nor has household wealth achieved pre-recession levels. Economic inequality continues to worsen as the gap between rich and poor widens. Incomes of US households have generally trended upward since…