CNN has reported that just 59 Americans own more wealth than the poorest half of the country -- and while the coronavirus pandemic has only worsened inequality in our country, these inequalities existed long before the current economic crisis.
According to the Economic Policy Institute, the federal minimum wage hasn't met the cost of living demands since the 1960s -- and the Institute for Policy Studies found that around 40% of Americans are either poor or low-income. The fact is that economic mobility has not improved in decades, and despite Donald Trump’s campaign claims of economic prosperity, the U.S. has the highest economic inequality of all G7 countries, including Canada and Italy.
Congress has failed to reform economic policies that have decreased public investment, slashed labor rights, and benefited the wealthiest in our country. Meanwhile, Trump’s tax cuts allowed billionaires to pay less in taxes than working class Americans.
Today, we’re demanding Congress take immediate steps to address the growing economic inequality crisis and close the $50 trillion inequality gap by investing in social programs like public education and health care while sponsoring fair tax legislation. According to the Pew Research Center, 61% of Americans believe there’s too much economic inequality in our country, but only 42% believe reducing economic inequality should be a top priority for the government.
