Troubled By Wealth Inequality and By Our Own Futures

Last December, a report by the Pew Research Center found that the wealth gap between upper income families and middle-income families (and everyone else, really) had reached record levels since the Great Recession. This is due, in part, because of stagnant wages coupled with an economic recovery that has created the kind of surge in corporate profits that has only benefited the richest 1 percent.

A new New York Times/CBS News poll shows that Americans from across the political spectrum feel that this kind of wealth and income inequality is troubling, with 65 percent feeling that the wealth gap needs to be addressed now. Seventy-one percent favored increasing the federal minimum wage to $10.10 an hour (though Republicans were divided on the question), and 68 percent favored raising taxes on people earning more than $1 million a year.

When asked about their feelings about their own personal finances over the next few months, here’s how people responded:

I have two separate responses to this question, because I am the kind of person who is always thinking about money and my family, and my mode of operation has always been to worry about this, to feel uneasy. But if I were to consider this question in a measured, rational way (stable job, stable income, automated savings, student loans being paid off) I should feel somewhat confident. How do I reconcile those feelings? I’m still trying to figure that out.

Support The Billfold

The Billfold continues to exist thanks to support from our readers. Help us continue to do our work by making a monthly pledge on Patreon or a one-time-only contribution through PayPal.