As Usual, the Unrich in America Continue to Tread Water

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


I commented briefly yesterday on the CBO’s latest report about the distribution of household income, but I didn’t get a chance to show you the main event: Income growth since the Reagan era. Here it is:

The nice thing about the CBO income estimates is that they’re pretty comprehensive. This one, for example, shows market income, which consists of labor income (including cash wages, health insurance, and the employer’s share of Social Security, Medicare, and federal unemployment insurance payroll taxes), business income, capital income (including capital gains), and retirement income. Other CBO income measures include government transfers, so you can get a good sense of how incomes are affected by social welfare programs.

As you can see, the market incomes of the rich bounce up and down a fair amount because they rely on volatile income sources like stocks and other investments. 2013 was not a good year for them—though we already know that they made up some of this ground in 2014 and 2015.

But for the unrich—which is, roughly speaking, everyone making less than $100,000 per year—nothing ever changes. During a period when real GDP per capita increased 77 percent, the income of the unrich has increased only 18 percent. That’s about half a percent per year, and all of it came from a single decade: 1993-2003. The rest of the time there’s been literally zero growth in the income of the unrich.

Economic anxiety may not be the real motivation for angry voters in this election, but it sure ought to be.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate