Monday, March 10, 2025
Income gap
Trump is in the process of changing the world in profound ways. The global world which has dominated since the end of WW 2 is undergoing adjustments. It started in the US when Trump upended the republican party and followed that up by turning the democrats up side down. The next move was to alert Europe to the fact that the US will no longer accept unfair trade deals and no longer be the worlds policeman. Trump wants to end wars and reopen free and fair trade with all countries. The establishment, headed by the military industrial complex, is trying to hang on the old ways of doing business and they are gaining partners in the press to help them. Trump is using a combination of military and economic power to force countries to look at new ways of doing things. In the past 25 years the growth in income has tilted to upper-income households. At the same time, the U.S. middle class, which once comprised the clear majority of Americans, is shrinking.
Income growth has been most rapid for the top 5% of families and this group has the most to lose. These are families whose income is over $500,000 which is definitely not middle income.
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