Income Inequality In America Surges To The Highest Level In 50 Years
The last time income inequality was this expansive in the United States was 50 years ago, according to an Associated Press analysis of U.S. Census Bureau data.
Axios reported last month that the analysis shows “income inequality has steadily climbed over the past 5 decades despite the country experiencing the longest period of economic expansion in its history.”
Although the issue has been present for some time, the American public is beginning to perk up and take note, Axios said — meaning both politicians and companies could soon be forced to address income inequality more meaningfully.
"The gap between the haves and have-nots is the biggest powder keg in America right now and that’s saying something," said John Dick, founder and CEO of polling firm CivicScience. "Even as consumer confidence remains high, concerns over income inequality reached the highest point we’ve seen this month. But that’s a little misleading because the term 'income inequality' evokes a tribal response.”
Dick said that CivicScience polling shows that a majority of Americans believe the gap between executive and worker pay is not warranted: "When we asked whether CEOs and company execs are unfairly overpaid relative to workers, 78% of people said yes, 11% say no."