Their are some outliers but if you are in the 1% you are doing great, top 10% you will save money for retirement and put your kids through college, next 20% are mostly limping into retirement and some will get their kids through college, the bottom 70% are a paycheck from being in trouble and their kids are on their own. That is nothing new, it has been like that for decades.
Home equity increasing has helped nearly 60-70% of America which is the largest build of wealth in history.
There is a structural issue in America that is consolidating more wealth up top. Trickle down has never worked. It has to be forced down.
The 1% are always going to do great. So that's a pointless observation. And if you are in the top 25%, and you are 'limping' into retirement, then you are a moron. You have no one to blame but yourself.
And if you are in the bottom 70%, and you are one paycheck away from being in trouble, then you are making bad choices in life.
A one-time janitor and gas station attendant demonstrated that you can become a multimillionaire with a modest salary.
www.cnbc.com
If a janitor can end up with $8 million, by mopping floors, and emptying trash cans, and you can't.... that's a
YOU problem.
Trickle down has never worked.
Trickle down is how everything works. If it didn't work, you would be eating bugs in a gutter somewhere.
Every single job that even exists, is trickle down working. Every bit food you can buy, is trickle down working. Every car, every bit of clothing, every product, every service you can get, everything is trickle down working.
If you are poor, that's a
YOU problem. It's not because the economy isn't working.
And by the way, tickle down is universal. There is no system, no economy, no nation or culture, that doesn't have trickle down.
If you go to the State owned Steel company in Communist China, and you walk into the production yard, you will find a bunch of low paid people. If you walk into the CEO office, you will find a very rich and wealthy Chinese guy.
Trickle down is how the entire world works. Without trickle down, you end up in North Korea, eating grass. Ask Yeonmi Park. Watch any of her hundreds of youtube videos on North Korea. She'll explain what not having trickle down looks like.