Our income and wealth inequality are a significant concern for Americans, and rightly so, because the United States is the most unequal high-GDP economy in the world. And the situation is worsening: The top 20% own 86% of the country’s wealth, while the bottom 80% own 14%. Our government’s policies directly contribute to this disparity.
Our lawmakers have refused to mandate a minimum wage that rises with inflation and other labor-supporting policies. Instead, they support policies that favor management, leading to skyrocketing executive pay and corporate profits, while the average salary remains stagnant.
Our tax structure has too many exceptions that allow wealthy corporations and individuals to pay little or no taxes at all. Meanwhile, the average working American frequently pays a higher rate than some of the richest individuals.
To add insult to injury, the average American is subsidizing the same companies that pay little taxes; we are allocating billions of dollars of taxpayer money to highly profitable companies such as Tesla, Amazon and Boeing, among others.
