Income inequality has captured America’s economic debate. President Donald Trump, elected with the votes of discontented blue-collar workers, slaps tariffs on allies and adversaries alike in the name of restoring yesterday’s middle-class manufacturing jobs. His 2020 Democratic challengers demand an array of federal initiatives, including higher minimum wages, tax hikes on the rich and reshuffling
Power without love is reckless and abusive, and love without power is sentimental and anemic. Power at its best is love implementing the demands of justice, and justice at its best is power correcting everything that stands against love.—Dr. Martin Luther King, Jr. At this unprecedented time of injustice in the United States, what does “power” mean for low-income families? How can a national
What does economic inequality really look like? Income alone doesn’t give a complete picture. Income inequality describes the gap between a six-figure salary and minimum wage. But the more alarming gap occurs in wealth — a household’s total assets minus debts. To understand how inequality is playing out in the United States, we need to
The #MeToo movement has shed light on the gender gaps that exist in wages and representation in executive suites across industries. But there’s another, even larger gender gap that doesn’t get as much attention: the wealth gap, according to a new report by Bank of America Merrill Lynch and Age Wave, a consulting firm focused
Every couple of years the Congressional Budget Office publishes estimates of the trend in federal tax burdens and the distribution of U.S. incomes. CBO’s newest estimates, published last week, show that income inequality continues to rise, but at a sharply slower pace compared with the three decades ending in 2007. Unfortunately, the upward trend in real income
You've heard of the wealth gap. And you probably know it's growing worldwide, including in the U.S., where the measure is now as wide as it is in Russia. But did you know how wide? According to a recent study from the National Bureau of Economic Research, almost 40 percent of U.S. households have zero or negative wealth.
A recent Deutsche Bank note on inequality confirmed what millions of American already know: Despite a soaring stock market and reassuringly low unemployment, the gap between Americans’ finances continues to widen. The data tell a stark picture. The top 10 percent used to capture about one-third of all income, now it gets over half. Wage disparities have