In these not-much-United States, we live, by any statistical measure one applies, in a new Gilded Age. Not since the age of the robber barons and the current president’s favorite predecessor, William McKinley, has the gap been so yawning between the upper and lower wealth strata of our society, not to mention the gap between the developed and undeveloped economies around the world.
The data are most everywhere one cares to look, a bare fraction of which we will touch on in this post. The common fact binding them together is that the rich keep getting richer at an accelerating pace.
According to the Federal Reserve, in the U.S. as of 2022, the bottom 50% of the population owned only 2.8% of the wealth. On the near-bottom rung in a country of 340 million that has long been the richest in the world, somewhere between 27 million-40 million people live below the official poverty line, which is $32,150 for a fam...
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