The American middle class, concludes a new study from the ad industry’s top trade journal, has essentially become irrelevant. In a deeply unequal America, if you don’t make $200,000, you don’t matter.
Families in the nation’s top 1 percent are grabbing a rising share of the nation’s income. So why do newly released Federal Reserve numbers show no jump in their share of the nation’s wealth?
Lawmakers do seem to understand the unfairness of an economy that lets hedge funds managers pocket billions of dollars. But they still haven’t recognized that economy’s dangerous foolishness.