The U S Census Bureau's latest data shows a huge gap in income The top percent of households made times more than the bottom percent in The Truth About Income What You Need to Know shows how income inequality is getting worse in our country In this article we'll look into what causes this big gap We'll talk about how wealth is mostly held by the rich and how labor unions are losing power Also look at racial income gaps and how CEO pay is growing faster than worker pay We'll see how taxes and government programs try to fix these issues By the end you'll know more about income in America and how to improve your financial situation Key Takeaways Income inequality in the United States has been steadily increasing with the richest enjoying the fastest income growth over the past four decades Wealth is becoming increasingly concentrated at the top with the top of households seeing their income grow times faster than the bottom between and Racial income disparities persist with the median white worker earning more than the typical Black worker and more than the median Latino worker The declining power of labor unions has contributed to stagnant wage growth for many workers even as executive compensation has soared Federal taxes and transfer programs play a role in reducing income inequality but significant gaps remain between the highest and lowest income groups Income Inequality The Growing Divide Income inequality has been a big worry in the United... Login to read full