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New York Magazine

STUDY: INEQUALITY ROBS $2.5 TRILLION FROM U.S. WORKERS EACH YEAR. Every few months, some group of socially conscious number crunchers will remind Americans that a tiny elite is binge-eating the nation’s economic pie while the rest of us plebeians fight over table scraps. Journalists will then aggregate eye-popping statistics and edifying charts, progressives will share these over social media, adorned with red-faced (and/or guillotine) emoji — and the moral arc of history will carry on bending toward neofeudalism.

So, in the present moment of booming stock markets and child hunger, you might be feeling too inured to America’s grotesque levels of inequality to summon much interest in yet another report testifying to the one percent’s total victory in the 50 Years Class War.

But a new study from the Rand Corporation, in partnership with the Fair Work Center, illustrates the impact of a half-century of upward redistribution in bracingly concrete terms: If income had been distributed as evenly over the past five decades as it was in 1975, the median full-time worker in the U.S. would enjoy annual earnings of roughly $92,000 a year. As is, that worker makes just $50,000.

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