It’s no secret that the United States has a glaring—and growing—problem with inequality. The Great Recession made things worse, and the recent economic recovery remains uneven, and unevenly distributed. Families in the bottom 99 percent of households have recovered just 60 percent of their income losses from the economic slump, according to a recent analysis of tax data by University of California-Berkeley economist Emmanuel Saez.
Meanwhile, the superrich keep getting richer: The average family in the top 1 percent of earners makes 40 times more than the average family in the bottom 90 percent of households. Families in the top 0.01 percent—the 1 percent of the 1 percent—make, on average, a whopping 198 times more than those in the bottom 90 percent, according to Saez and fellow economist Thomas Piketty’s data.
Here’s why it feels like the economy isn’t getting better.