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Although some spoke out in favor of moderate inequality as a form of incentive, [296] [297] others warned against excessive levels of inequality, including Robert J. Shiller, (who called rising economic inequality "the most important problem that we are facing now today"), [298] former Federal Reserve Board chairman Alan Greenspan, ("This is ...
The new report on wealth inequality comes from the nonpartisan Congressional Budget Office. America's top 10% controls 60% of the wealth. The bottom half holds 6%.
Economic inequality risks creating social discontent, which can boil over into political conflict, according to Zia Qureshi, a Senior Fellow at the Brookings Institution.
Much of the reason that economic inequality is so stark in modern America is wage stagnation. The federal minimum wage has been $7.25 an hour since 2009, the longest Congress has ever let it erode ...
The Economic Blackout refers to a series of 24-hour consumer spending boycotts that took place on February 28, 2025, in the United States, with planned boycotts for future dates including March 28. Organized by The People's Union USA activist group, the protest encouraged Americans to refrain from making any purchases for an entire day.
Economic inequality in the United States has been steadily increasing since the 1980s as well and economists such as Paul Krugman, Joseph Stiglitz, and Peter Orszag, politicians like Barack Obama and Paul Ryan, and media entities have engaged in debates and accusations over the role of tax policy changes in perpetuating economic inequality.
For much of the past decade, policymakers and analysts have decried America's incredibly low savings rate, noting that U.S. households save a fraction of the money of the rest of the world.
A 2022 study in the American Economic Journal found that greater economic inequality in the United States than in Europe was not because of the nature of tax and transfer systems in the United States. The study found that the U.S. redistributes a greater share of its wealth to the bottom half of the income distribution than any European country.