How Bad Inequality Is
27 June 2017 | Pago Pago, American Samoa
Incomes for the top 0.001% richest Americans surged 636% during the 34-year period.
There's more. "The average pretax income of the bottom 50% of US adults has stagnated since 1980, while the share of income of US adults in the bottom half of the distribution collapsed from 20% in 1980 to 12% in 2014.
"In a mirror-image move, the top 1% commanded 12% of income in 1980 but 20% in 2014. The top 1% of US adults now earns on average 81 times more than everyone together in the bottom 50% of adults; in 1981, they earned 27 times what the lower half earned."
And we do nothing at all about it except adopt stupid policies and laws to make the situation worse. Why? Two reasons: 1) the rich make big campaign contributions for congress to do that, and 2) conservatives, republican and libertarians push for their holy trinitarian dogma of lower taxes, smaller government and no government interference, although the evidence repudiates the efficacy and desirability of each of the three. We are an asshole nation.