Increased Gap in Wealth Distribution between Rich & Poor under Trump Admin.

The gap between the rich and the poor in the US has widened to a record high, and it mirrors the growth of 'dynastic wealth' . U.S. Census Bureau, Sept 2019. https://www.businessinsider.com/us-income-inequality-record-high-generational-wealth-2019-9

In 2019 Income inequality in U.S. is at a five-decade high, Census ...

 

The growth in income in recent decades has tilted to upper-income households. At the same time, the   U.S. middle class , which once comprised the clear majority of Americans, is shrinking. Thus, a greater share of the nationís aggregate income is now going to upper-income households and the share going to middle- and lower-income households is falling. 9 The share of American adults who live in middle-income households has decreased from 61% in 1971 to 51% in 2019.

Pew Research Center- Trends in Wealth Inequality .

  Major Transfer From the Middle Class to the Wealthy though Government Policy

https://www.thestreet.com/mishtalk/economics/third-major-transfer-from-the-middle-class-to-the-wealthy

 

Federal tax and spending policies are worsening the problem of economic inequality. But the tax breaks that overwhelmingly benefit the wealthy are only part of the problem . The increasing diversion of government spending toward income supports and away from opportunity-building programs also is undermining wealth inequality.

https://www.taxpolicycenter.org/taxvox/how-government-tax-and-transfer-policy-promotes-wealth-inequality

 

Income growth has been most rapid for the top 5% of families.

The wealth of other U.S. families is yet to recover from the Great Recession of the Bush years.

https://www.pewsocialtrends.org/2020/01/09/trends-in-income-and-wealth-inequality/

 

  In 2018, households in the top fifth of earners (with incomes of $130,001 or more that year) brought in 52% of all U.S. income, more than the lower four-fifths combined, according to Census Bureau data.

 

Income inequality in the U.S. is the highest of all   the G7 nations , according to data from the   Organization for Economic Cooperation and Development .

 

The black-white income gap in the U.S. has grown over time

 

Overall, 61% of Americans say there is too

much economic inequality in the country today, but views differ by political party and household income level.  

 

https://www.pewresearch.org/fact-tank/2020/02/07/6-facts-about-economic-inequality-in-the-u-s/