The Pew Research Center released a study earlier this week that found in the last twenty years the American middle class shrank, while the rich did quite well and the number of poor expanded. According to researcher Rakesh Kochhar, “Compared with the Western European experience, the adult population in the U.S. is more economically divided.”
He also said, “There is an aura of redistribution of income from middle income to upper income.”
Trump’s proposal to eliminate the estate tax, a tax that applies to less than one percent of the American public, should help that process along. I don’t think it will do much to make American great again, but it will be great to be an heir to the richest one percent.
Incidentally, while the stock market is booming, the actual growth in the American economy has been sluggish in the first quarter, far lower than the last year Obama was president. Sad.
Today thousands of Trump supporters rallied in Harrisburg. According to observers, it may have been the largest number of delusional people ever assembled in one location.
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