For years, economists, analysts, politicians and pundits have bemoaned the steady decline of the middle class -- and, odds are, you've felt what they're talking about from the inside. But that's not the same as seeing the data laid out in front of you.
As the income gap between rich and poor widens, a majority of Americans say the growing divide is bad for the country and believe that wealthy people are paying too little in taxes, according to a new survey.
Major news stories ebb and flow, rising to the headlines and then slipping out of the spotlight. But even if they fade from attention, keep an eye on this handful of long-term issues, such as North Korea, which have the potential to disrupt the U.S. economy and global recovery.
To wrap your head around how much someone like Larry Ellison makes, try comparing his compensation to the median income of an American household -- $49,777. His 2008 take of $543 million is the equivalent of the annual earnings of 10,908 average American families. Got that?
No, it's not a new plague. Rather, it's a little-known economics thesis that explains why uneven productivity gains in different sectors can have a huge impact on everything from consumer spending to government deficits. The latter is the nastiest side effect.
The TV program "Undercover Boss" shows there's not much difference between top management and employees. But a look at CEO vs. employee salaries tells a different story.
America's big income disparity is creating an economy that's dependent on the spending and investing of the wealthiest. As a result, economic growth may increasingly mean 95% of Americans are still not doing better financially.
