Fascinating and disheartening: GDP has risen 79% since 1980. Lower and middle after-tax income has only grown by 20% and 50%, respectively. For the very wealthy, incomes have risen 480%. The financial crisis and recovery will be harder because of this. https://www.nytimes.com/interactive/2020/04/10/opinion/coronavirus-us-economy-inequality.html?referringSource=articleShare
The economy would be different if this inequality hadn't occurred. The bottom 90% would be earning an extra $12,000/year.

Instead, "each household in this bottom 90 percent is sending a check for $12,000 to every household in the top 1 percent, year after year after year."
"Living the American dream is now skin to a coin flip."
To complicate matters:
As if generational discrepancies weren't bad enough...
Take a look at the racial inequities:
So, how does all of this income inequality have an impact on the current pandemic? Well, for one: life expectancies.
Overall, our life expectancy hasn't fared as well as other developed countries. One cause is our uniquely expensive and inefficient healthcare system. But you do you, America.
You can follow @SaintTel.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: