A new study from the Pew Research Center found that middle
class1 incomes have been declining since the 1980’s (thanks,
Ronald Reagan for all that non-existent trickle-down), while the
incomes of the very wealthy have continued to rise. Think
Progress: The Pew survey is the latest to note rising income
inequality in America as the middle class continues to struggle
while the wealthy remain relatively prosperous. Income
inequality in the U.S. is now comparable, if not worse, than it
is in countries like Ivory Coast and Pakistan, as middle class
wages have stagnated. A 2010 Census Bureau study found that
incomes for the bottom tier of Americans fell four times faster
than they did for the wealthiest after the recession. The “lost
decade” for the middle class corresponds to declining tax rates
for the wealthy and a growth in corporate profits. In the last
12 years, incomes for the wealthiest 400 Americans quadrupled
even as their tax rates were halved, and executive compensation
has grown 127 times faster over t