The Congressional Budget Office released a new report last month that again underscored the depth and duration of the income inequality issue in America concluding that the problem has worsened considerably in the past three decades. Further, it asserts that means-tested social programs and taxation-based transfers are mere “palliative” care and not a long-term solution to solving the widening wage gap.

More info in the article
https://www.forbes.com/sites/petergeorgescu/2018/04/20/employees-pay-the-price-for-three-decades-of-income-inequality/

My thoughts on this news

The US economy (and global economy) has been on a slow path to self destruction for about the last 50 to 60 years. When employers figured out that employees are just an expandable business expense wages began to decrease for employees and increase for employers. Advancement in technology allowed jobs to be eliminated and moved to other countries where labor was much cheaper. So US corporations moved their labor to places where they could pay their employees slave wages and left US workers with no jobs. So US workers had to compete with each other for low paying jobs while wages of the employers increased because they were no longer spending as much money on their employees. That is how we got to where we are today, the greatest income and wealth inequality in economic history and nothing is being done to correct the problem. The economic future for the youth is very bleak, they are competing for low wage jobs because the wealthy already have most of the money so no need for them to create new jobs... the economic system is broken, it benefits those who are already wealthy while the majority fight for the crumbs...