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INEQUALITY IN AMERICA

April 17, 2020 • Volume 30, Issue 15 Can the growing wealth gap be closed?

By Tom Price

Introduction

Inequality in the United States is at its highest level in a half-century,
according to the U.S. Census Bureau. The richest 0.1 percent of households owns
between 15 and 20 percent of all U.S. wealth, while the bottom half owns just 1
percent. But this wealth gap is only one part of the problem, economists say.
Inequality also extends to education, with the poor lagging the more affluent in
academic achievement, and to regions, where high-tech centers are leaving behind
areas dependent on agriculture or manufacturing. The coronavirus pandemic,
meanwhile, is sending unemployment soaring and is widening the gulf between the
haves and the have-nots. Conservatives and liberals agree that inequality
exists, but differ sharply about what should be done. Democrats propose raising
taxes on the rich, expanding health insurance for the poor and spending more on
public education at all levels. But conservatives say inequality is a natural
byproduct of a prosperous free-market economy and warn that wealth taxes would
harm growth and ultimately hurt workers.


Randall Grey holds a sign during a 2011 protest in San Diego against Wall Street
and corporate power. Income inequality has increased in the past decade,
according to government agencies and economists. (Getty Images/Corbis/Sandy
Huffaker)

Read the Full Report (Subscription Required)
ISSUE TRACKER for Related Reports

Cost of Living and Wages

Apr. 17, 2020  Inequality in America Sep. 08, 2017  Universal Basic Income Apr.
08, 2016  Future of the Middle Class Apr. 18, 2014  Wealth and Inequality Jan.
24, 2014  Minimum Wage Jun. 19, 2009  Rethinking Retirement Mar. 06, 2009 
Middle-Class Squeeze Mar. 14, 2008  Gender Pay Gap Dec. 16, 2005  Minimum Wage
Sep. 27, 2002  Living-Wage Movement Apr. 17, 1998  Income Inequality Oct. 27,
1978  Wage-Price Controls Jun. 16, 1978  Military Pay and Benefits Mar. 23,
1966  Rising Cost of Living Oct. 25, 1961  Price-Wage Restraints in National
Emergencies Jun. 21, 1961  Wage Policy in Recovery Jun. 11, 1958  Prices and
Wages in the Recession Sep. 18, 1957  Control of Living Costs Nov. 02, 1955 
Wages, Prices, Profits Jan. 26, 1954  Minimum Wage Raise Jan. 02, 1954  Cost of
Living Jan. 21, 1953  Guaranteed Annual Wage Dec. 17, 1952  Future of Price and
Wage Controls Nov. 19, 1951  Fringe Benefits and Wage Stabilization Dec. 06,
1950  Wage Control Jun. 13, 1949  Wages in Deflation Jun. 04, 1947  Guarantees
of Wages and Employment Oct. 29, 1946  Decontrol of Wages Dec. 01, 1945  Minimum
Wages Sep. 29, 1945  Wage Policy Oct. 27, 1944  Wage Security May 17, 1943 
Incentive Wage Payments Aug. 25, 1941  Prices, Profits, and Wage Control Apr.
28, 1941  Wartime Changes in the Cost of Living Sep. 21, 1940  Two Years of the
Wage-Hour Law Nov. 01, 1938  Industry and Labor Under the Wage-Hour Act Jan. 20,
1938  Wage Rates and Workers' Incomes Apr. 11, 1935  The Cost of Living in the
United States Sep. 01, 1930  Wages and the Cost of Living May 24, 1930  The
Anthracite Wage Agreement Feb. 20, 1925  Measure of Recovery in Profits and
Wages Since 1920–21 Depression

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ProgramsWork and the Family



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