The income divide is growing in America, and it’s at the highest it has been since 1928. What’s more, the wealth gap has also grown, with 88.9% of the wealth being controlled by the top fifth of Americans. Between 1979 and 2011 wages grew 37% for those in the top 5%, an astounding 113% for those in the top 1%, and a stagnate 6% for median workers. Perhaps what’s more surprising, though, is that the income gap between races is still holding steady.
There are many factors contributing to income and wealth stagnation among the middle and lower classes. It has been 50 years since Lyndon Johnson declared War on Poverty, but it seems to have had little effect on America’s overall financial well-being. Currently, 32 states are considering raising the minimum wage and 58% of Americans are more likely to support candidates who want to raise the minimum wage to $10.10. This infographic outlines the stats.