FacebookTwitterGoogle+RedditEmail

The Widening Wealth Gap

by KAREN DOLAN

We can’t seem to stop having record numbers of people living in poverty in the United States. The richest continue to get richer and the rest of us continue to see our incomes get lower and lower.

New Census Bureau figures released yesterday, show that 15 percent of the U.S. population lived in poverty in 2011. Over 46 million Americans lived at or below the poverty threshold of a household income of $23,201 per year for a family of four. One in five of our children live in poverty and over one-third of black and Latino children are struggling through impoverishment.

In 2011, we saw the first one-year increase in income inequality since 1993. The top 5 percent gained 5.3 percent in income in 2011 over 2010. The lowest quintile saw little change, but the second-lowest, middle, and fourth-lowest quintiles all experienced a decline in income over the year. Sadly, those who “occupied” Wall Street and city squares across the country in 2011, were right: All of the income gains have concentrated at the top, while the rest of us saw a deterioration or stagnation in our wages and income.

This data also confirms that safety programs work. According to the Census Bureau, unemployment benefits kept 2.3 million of us out of poverty in 2011, Social Security benefits kept over 21 million people out of poverty and, if we count the nutrition aid of the Food Stamps program as income, it would show that 3.9 million people were lifted above the poverty line in 2011.

Increasingly, all of the boost in wealth is concentrated at the top and record numbers of poverty persist, while the middle and lower-economic classes are losing ground. Now is not the time to lower taxes on the wealthiest by cutting proven, effective anti-poverty measures such as Unemployment Insurance, Supplemental Nutrition Assistance, the Earned Income Tax Credit, Social Security, and new coverage benefits gained from the health care reform law.

The rich shouldn’t be rewarded while the rest of struggle.

Karen Dolan is a fellow at the Institute for Policy Studies and director of the Cities for Progress and Cities for Peace projects.

This column is distributed by Other Words.

More articles by:

CounterPunch Magazine

minimag-edit

bernie-the-sandernistas-cover-344x550

zen economics

December 07, 2016
Michael Schwalbe
What We Talk About When We Talk About Class
Karl Grossman
The Next Frontier: Trump and Space Weapons
Kenneth Surin
On Being Caught Speeding in Rural America
Chris Floyd
In Like Flynn: Blowback for Filth-Peddling Fascists
Serge Halimi
Trump, the Know-Nothing Victor
Paul DeRienzo
Flynn Flam: Neocon Ex-General to Be Trump’s National Security Advisor
Binoy Kampmark
Troubled Waters: Trump, Taiwan and Beijing
Tom Clifford
Trump and China: a Note From Beijing
Arnold August
Fidel’s Legacy to the World on Theory and Practice
Dave Lindorff
Is Trump’s Idea To Fix a ‘Rigged System’ by Appointing Crooks Who’ve Played It?
John Kirk
Cuba After Fidel
Jess Guh
Repeal of Affordable Care Act is Politics Playing with the Wellbeing of Americans
Eric Sommer
Team Trump: a Government of Generals and Billionaires
Lawrence Davidson
U.S. Reactions to the Death of Fidel Castro
John Garvey - Noel Ignatiev
Abolitionism: a Study Guide
Clancy Sigal
Caution: Conspiracy Theory Ahead!
December 06, 2016
Anthony DiMaggio
Post-Fact Politics: Reviewing the History of Fake News and Propaganda
Richard Moser
Standing Rock: Challenge to the Establishment, School for the Social Movements
Behrooz Ghamari Tabrizi
Warmongering 99 – Common Sense 0: the Senate’s Unanimous Renewal of Iran Sanctions Act
Norman Solomon
Media Complicity is Key to Blacklisting Websites
Michael J. Sainato
Elizabeth Warren’s Shameful Exploitation of Standing Rock Victory
David Rosen
State Power and Terror: From Wounded Knee to Standing Rock
Kim Ives
Deconstructing Another Right-Wing Victory in Haiti
Nile Bowie
South Korea’s Presidency On A Knife-Edge
Mateo Pimentel
Some Notes and a Song for Standing Rock
CJ Hopkins
Manufacturing Normality
Bill Fletcher Jr – Bob Wing
Fighting Back Against the White Revolt of 2016
Peter Lee
Is America Ready for a War on White Privilege?
Pepe Escobar
The Rules of the (Trump) Game
W. T. Whitney
No Peace Yet in Colombia Despite War’s End
Mark Weisbrot
Castro Was Right About US Policy in Latin America
David Swanson
New Rogue Anti-Russia Committee Created in “Intelligence” Act
George Ochenski
Forests of the Future: Local or National Control?
December 05, 2016
Bill Martin
Stalingrad at Standing Rock?
Mark A. Lause
Recounting a Presidential Election: the Backstory
Mel Goodman
Mad Dog Mattis and Trump’s “Seven Days in May”
Matthew Hannah
Standing Rock and the Ideology of Oppressors: Conversations with a Morton County Commissioner
Kevin Zeese - Margaret Flowers
#NoDAPL Scores Major Victory: No Final Permit For Pipeline
Fran Shor
The End of the Indispensable Nation
Michael Yates
Vietnam: the War That Won’t Go Away
Michael Uhl
Notes on a Trip to Cuba
Robert Hunziker
Huge Antarctica Glacier in Serious Trouble
John Steppling
Screen Life
David Macaray
Trump vs. America’s Labor Unions
Yoav Litvin
Break Free and Lead, or Resign: a Letter to Bernie Sanders
FacebookTwitterGoogle+RedditEmail