Yet Another Reason to Believe That Income Inequality Has Skyrocketed Recently

Here’s another reason I think the rise of income inequality is real. If income inequality had stayed about the same over the past few decades, then you’d expect wealth inequality to stay roughly the same too. But that’s not what’s happened:

Measurement of wealth has its own problems, but it doesn’t suffer from possible tax changes that might mask its actual value. And since this is presented as a multiple of median wealth, issues of the proper inflation rate don’t come into play. Nor does non-cash income.

In just three decades, the wealth of the top 1 percent has nearly tripled compared to the median. This is consistent with a considerable increase in income compared to the median. It is not consistent with the idea that the income of the top 1 percent hasn’t changed, but only seems like it has. One way or another, all this extra wealth came from real income.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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