The Growing Income Inequality in the United States: A Strong Case Study

The salary of the average CEO of a public company was 20 times the average worker's salary in 1965. By 2014, this ratio had skyrocketed to over 300 times. These figures, backed by publicly disclosed information, highlight a profound shift in the economic landscape of the United States.

CEOs vs. Regular Workers: A Comparative Analysis

The strongest evidence of growing income inequality lies in the stark differences between the assets and wages of regular workers and those of CEOs. Let's delve into a comparison using my father's defense contractor as an example.

In the 1960s, if the CEO of my father's defense contractor had moved into a small cul de sac with a half-dozen houses, the average assets in the neighborhood would have skyrocketed to millions of dollars—ranging from 5 to 6 figures. Given the modest nature of the neighborhood and homes of that era, this represents a dramatic shift in wealth.

Fast-forward to today, if Bill Gates were to move into the same cul de sac, the average assets of each home would soar to multiple billions of dollars—ranging from 10 to 11 figures. However, the median assets would still hover around 5 to 6 figures. Similar disparities can be seen in income where the mean has increased, but the median has remained relatively unchanged.

Impact on Wages and Living Standards

While mean income has seen a slight increase, median income has stagnated. This indicates that wealth and income growth have skewed towards the upper echelons of society, leaving the middle class and the poor behind. For instance, my father, an engineer at a defense contractor in the 1960s, would have earned 15 to 20 times more than my dad's salary now. Today, a typical defense contractor engineer might earn much more, but the CEO's salary could be 50 to 100 times higher. This trend has been consistent over the past 35 years, indicating a growing concentration of wealth at the top.

Continuation of CEO Pay Growth and Erosion of Worker Income

CEO pay continues to rise while typical workers' wages continue to stagnate. While it's true that we enjoy better technology and more information access, rising costs of living have not been matched by corresponding wage growth. This disparity has been a persistent issue, with various articles from reputable sources highlighting the growing wage gap.

Further Evidence and Sources for Concern

For those who remain skeptical, here are a few illustrative articles from reliable sources:

Title: U.S. inequality keeps getting uglier
Source: CNN Title: Income Inequality
Source: Stanford University Title: Income inequality today may be higher today than in any other era
Source: Washington Post Title: 20 Facts About U.S. Inequality that Everyone Should Know
Source: [Not specified, could be another reputable source]

While the evidence presented here may not convince everyone, these sources offer a comprehensive view of the growing income inequality in the United States. If these facts don't change your mind, it's possible that further evidence might also fall short in compelling you to accept the reality of income inequality.

For a deeper understanding, exploring these articles and others from reputable sources can provide valuable insights. The evidence is clear, and the trend shows no signs of reversing.