INCOME INEQUALITY, and the impact of President Trump’s policies on it, looms as a major issue in the 2020 presidential campaign. Fortunately, the nonpartisan Congressional Budget Office has just issued a report on U.S. income inequality through the end of 2016 — that is, about the time Mr. Trump assumed the presidency. Spoiler alert: The […]
Poverty Doesn’t Make You Racist
Since the 2016 elections, Democrats have endlessly debated how to reach the “white working class”—a demographically imprecise group alleged to have gone for Trump in big numbers. As multiple studies have shown, all white voters are in fact intensely polarized into two groups: one, open to progressive appeals, that recognizes racism is a reality in […]
Our Broken Economy, in One Simple Chart
Many Americans can’t remember anything other than an economy with skyrocketing inequality, in which living standards for most Americans are stagnating and the rich are pulling away. It feels inevitable. But it’s not. A well-known team of inequality researchers — Thomas Piketty, Emmanuel Saez and Gabriel Zucman — has been getting some attention recently for […]
How the Upper Middle Class Is Really Doing
Have upper-middle-class Americans been winners in the modern economy — or victims? That question has been the subject of a debate recently among economists, writers and others. On one side are people who argue that the bourgeois professional class — essentially, households with incomes in the low-to-mid six figures but without major wealth — is […]
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