The middle class continues to suffer financially.
A Guide to Statistics on Historical Trends in Income Inequality
- The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity.
- Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted terms between the late 1940s and early 1970s.
- The income gap between those high up the income ladder and those on the middle and lower rungs — while substantial — did not change much during this period.
- Beginning in the 1970s, economic growth slowed and the income gap widened.
- Income growth for households in the middle and lower parts of the distribution slowed sharply, while incomes at the top continued to grow strongly.
- The concentration of income at the very top of the distribution rose to levels last seen more than 80 years ago (during the “Roaring Twenties”).
Quit voting Republican
you didn't answer Todd's questions:
What is the ideal distribution of income?
How do you know?
Sure I did.
Minimum wage should be $48,500.00/yr.
How do I know? Due to the Trumpchange tax cuts, the middle class are now the largest percentage-class taxpayers in the US. The middle class have LOTS of taxes to pay PLUS they have expenses to pay. The rich/wealthy/corporations are off the hook, but they need to pay their employees more.