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The US election is the most divisive in decades. But the fractures running through US society long predate COVID-19.
Here are six charts that reveal America’s deep divides: https://www.opendemocracy.net/en/oureconomy/six-charts-that-reveal-americas-deep-divides/
Here are six charts that reveal America’s deep divides: https://www.opendemocracy.net/en/oureconomy/six-charts-that-reveal-americas-deep-divides/
1. How the 1% won America’s class war
Since 1980, the top 1% have taken home an ever-growing share of US national income – while the income hare of the bottom 50% has declined dramatically.
Since 1980, the top 1% have taken home an ever-growing share of US national income – while the income hare of the bottom 50% has declined dramatically.
2. Workers have not benefited from rising productivity
After the Second World War, American workers benefited from rising productivity through pay rises. But this link broke down in the 1970s: between 1979 and 2018, productivity rose by 70%, while the pay of workers stagnated.
After the Second World War, American workers benefited from rising productivity through pay rises. But this link broke down in the 1970s: between 1979 and 2018, productivity rose by 70%, while the pay of workers stagnated.
3. Billionaire wealth has exploded
In 1990 there were 66 US billionaires worth $240bn. Today there are 614 billionaires worth nearly $3tn.
Today three billionaires – Jeff Bezos, Bill Gates, and Warren Buffett – own as much wealth as the bottom half of all US households.
In 1990 there were 66 US billionaires worth $240bn. Today there are 614 billionaires worth nearly $3tn.
Today three billionaires – Jeff Bezos, Bill Gates, and Warren Buffett – own as much wealth as the bottom half of all US households.
4. Millions of Americans have zero or negative wealth
Between 1963 and 2016, families in the 10th percentile of the wealth distribution went from having no wealth to being $1,000 in debt. Meanwhile, families in the 90th percentile saw their wealth increase fivefold.
Between 1963 and 2016, families in the 10th percentile of the wealth distribution went from having no wealth to being $1,000 in debt. Meanwhile, families in the 90th percentile saw their wealth increase fivefold.
5. Racial wealth disparities have grown wider
In 2016, white family wealth was seven times greater than Black family wealth, and five times greater than Hispanic family wealth.
In 2016, white family wealth was seven times greater than Black family wealth, and five times greater than Hispanic family wealth.
6. Lack of universal healthcare costs lives – and livelihoods
A recent study found that 66.5% of all personal bankruptcies were tied to medical issues. An estimated 530,000 families turn to bankruptcy each year because of medical issues and bills.
A recent study found that 66.5% of all personal bankruptcies were tied to medical issues. An estimated 530,000 families turn to bankruptcy each year because of medical issues and bills.
