The University of California professors of economics have created a web page, RealTime Inequality.
It tracks income growth from 1976 to the present, 2022. This is their findings: Severe Inequality --
Tracking pre-tax and pre-transfer income, what is called "factor " income or "market" income they found that:
The lower-earning 50% of U.S. households have seen their incomes grow by $3,700 over the 46 years, 1976 – 2022.
Households’ incomes in the lower 50 group grew from $16,700 to $20,400, up 22%.
The group from the 50th percentile to the 90th, a 40% group, grew their incomes by $29,600,
from $87,500 to $117,100, up by 34%.
The top 10% group saw incomes grow from $261,900 to $616,100, a gain of $354,000 or a multiple of 2.3 times, or 130%.
The top 1% group grew incomes from $783,000 to $2,600,000, or by $1,800,000, or by 3.3 times, or 234%.
That’s, an income increase of $3,700, or of $29,600, or of $354,000, or of $1,800,000.
Or another comparison is total income by group: $20,400 for 50% -- $117,000 for 40% -- 616,000 for 10% -- $2,600,000 for 1%.
It would take 130 years for the average household in the lower half to earn what the top 1% household earns in a year.
In 1976 the lower 90% earned 62.4% of all income, in 2022 they earned 47.9%, a drop of 14.5% of total income share, or a drop of $3.16 trillion. Divided among 117 million households, that comes to an income loss of $24,315 per family. --I write a blog, Economics Without Greed, Part Two, I'll post this info one of these days. It's important to attack this dysfunctional economy that is rigged. A good book is "The Making of a Democratic Economy" by Marjorie Kelly and Ted Howard.
If the ratios of 1976 were restored every household in the lower 90% could increase their income by more than $24,000 per year income.