Why 1978 Was the Least Worst Year for America’s Most Worst Problem

Medium.com has infographics explaining.explains: The wealth gap is a problem Obama wants to solve — but it might be impossible.

The U.S. wealth gap is at an 80-year high

Today the richest 1% of Americans own more of the country’s wealth than at any time before the 1930s.

The best year for wealth equality? 1978.

Today, the wealth gap is over three times larger.

Things are even worse if you’re not white

Right now, the average white family is worth 13 times as much as the average black household.

But most people aren’t better off

Household income, once you adjust it for inflation, has actually dropped.

Not everything is terrible

Oil is actually cheaper, and gas too: a gallon cost the equivalent of $2.58 in 1978, compared to $2.06 today.

But we’re not spending less

Average monthly rents have remained static, and in boom cities like San Francisco, they’re at historical highs.

In fact, some things are way more expensive

The average new homes cost six times annual household income now.

On the other hand!

The average income worldwide has nearly doubled.

(OK, $7,814 a year is pretty bad. But still. Double!)

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