Today in America we live in the richest country in the history of the world, but that reality means very little because much of that wealth is controlled by a very small handful of individuals. America is now one of the worst major developed countries in terms of economic equality in the entire world, and at the gap is at its worst point since the 1920’s. The middle-class of the nation has been slowly disappearing and having its money go up towards the upper-class. And to make it all worse 58% of all new wealth in the United States goes towards the top 1% of earners since 2009. Wealth and income inequality is one of the hardest issues to fix that the United States currently faces, because of the Supreme Court decision in 2010 on the case Citizens
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Since about 1980 the American Middle-class has taken an enormous hit and have all but disappeared from a massive transfer of wealth to the top 1% of income. A report from the Pew Research Center found that, for the first time since the 1970s, families defined as “middle income” are actually in a minority in the US, being destroyed from both ends by an enlarged lower wage group below them, and an enriched group above them. Also according to Pew, the average income of the upper tier today is seven times that of the middle tier, and in 1983 it was merely double. According to an article titled The Strange Case of America’s Disappearing Middle Class by Paul Mason from The Guardian, “49% of US aggregate income went to upper-income households in 2014, up from 29% in 1970. The share accruing to middle-income households was 43% in 2014, down substantially from 62% in 1970 … the majority of Americans, … are either rich or poor”. There are many speculated reasons why the wage gap has transitioned to this enormous difference, however, the most reasonable answer has to why is the increased influence and power of upper-class, particularly the top 1% of earners, among politicians. The middle-class slowly started disappearing around 1970, however, after around 1980 the gap started to vastly increase and has been skyrocketing
Since about 1980 the American Middle-class has taken an enormous hit and have all but disappeared from a massive transfer of wealth to the top 1% of income. A report from the Pew Research Center found that, for the first time since the 1970s, families defined as “middle income” are actually in a minority in the US, being destroyed from both ends by an enlarged lower wage group below them, and an enriched group above them. Also according to Pew, the average income of the upper tier today is seven times that of the middle tier, and in 1983 it was merely double. According to an article titled The Strange Case of America’s Disappearing Middle Class by Paul Mason from The Guardian, “49% of US aggregate income went to upper-income households in 2014, up from 29% in 1970. The share accruing to middle-income households was 43% in 2014, down substantially from 62% in 1970 … the majority of Americans, … are either rich or poor”. There are many speculated reasons why the wage gap has transitioned to this enormous difference, however, the most reasonable answer has to why is the increased influence and power of upper-class, particularly the top 1% of earners, among politicians. The middle-class slowly started disappearing around 1970, however, after around 1980 the gap started to vastly increase and has been skyrocketing