US income distribution even worse than you thought

A recent study shows just how bad the distribution is.

“It can be argued that households in the upper portion of the income distribution are better positioned, or even favored, to reap the benefits from growth, further widening the income gap between rich and poor,” wrote the author. 

Conversely, the author wrote that even in times of economic prosperity, poorer classes have limited access to resources that would improve their position. For example, while technological advances spur economic growth, they do not benefit all households equally. 

“The data imply that the U.S. economy is not one of mobility and opportunity,” wrote the author. “Richer households are getting richer, the poorer households are staying poor, and those middle-income households continue to move about chasing the elusive American dream.”