I'm Not Sure It's Possible To See This Chart And *Not* Think It's A Big Problem
Take a look at these income trends in the United States over the last three decades. Doesn't exactly scream "land of opportunity," right? But there is a very sensible solution that we can push for in the immediate term.
The income gap is a massive pit that's swallowing millions of hard-working people. But what's more interesting is that even people who can be categorically described as "well-off" — those in the 90th to 99th percentile of wage earners — are being left in the dust by the top 1%. Apparently, the slogan "We are the 99 percent" was more on point than many of us knew.
So what can we do? A great start would be to simply raise wages for low-income folks. It's been a long time coming. Adjusted for inflation, the current federal minimum wage ($7.25) is lower than it was over 40 years ago. Plus, it's a wildly popular idea that's already happening in a growing number of cities and states.
A few extra bucks an hour can add up to a huge difference for millions of people, and the spending boost would have an overall positive effect on the economy.