The Gap Between The Rich And The Poor In The United States Hasn’t Been This Large Since The 1920s

The rich have been getting richer and the poor have been getting poorer for so long in America that it seems like it has always been this way. But it hasn’t. In fact, between the late 1920s and the early 1970s the gap between the wealthy and the poor actually steadily got smaller. And when I was growing up in the 1980s, it seemed like everyone was middle class, but now those days are long gone. A very small sliver of society at the very top of the food chain truly is “living the high life”, while most of the rest of us are deeply struggling. According to a brand new study just released by the Economic Policy Institute, the average American family in the top 1 percent brought home 26.3 times as much income in 2015 as an average family in the bottom 99 percent. The following comes from CNBC(Read More...)