The ever-increasing gap between the wealthiest few Americans and what used to be the middle class isn’t just a statistic. Leading Republicans, all of whom happen to be on the top end of the wealth scale, say the rest of us are just envious whiners, that we just need to get a job and work harder. Guess what. That’s what we’ve been doing for the last thirty years: working more hours, being more productive and often adding a second income to the family. In spite of all that, median family income trails the growth in overall GDP since the early 80’s.
How, I wonder, to the Republicons explain that.
Here’s a chart from Professor Lane Kenworthy showing the drop-off in family income:
Prof. Kenworthy concludes:
The disconnect between economic growth and middle-class income growth is due largely to rising inequality. In the past several decades much of the economy’s growth has gone to those at the top of the income distribution.