Income gap

For the past 50 years the primary economic policy of the democratic party has been the redistribution of wealth. The purpose is to take money from those who have a lot and give it to those who have less in the form of public assistance programs. The party will control who gets what and how they get it. The hope was that helping those who are less fortunate, would lead to voters approving more benefits and that part has worked. Here are some examples of new programs since 1970 not including Medicare and Medicaid which started in 1965. Earned Income Tax Credit (EITC), Child tax credit, Medicare part D (drugs), CHIP providing healthcare to children whose family income is too high for Medicaid and finally Obamacare. The result has not helped the income gap. Income inequality in the US has risen sharply since 1970, with the share of aggregate income for middle-class households dropping from 62% in 1970 to 43% by 2018, while the upper-income tier's share rose from 29% to 48%. The main reason why middle-income groups lost the race is because of globalization, which is now coming to an end and incomes for working people are currently rising more than inflation, something that rarely happened since 1970.