income inequality

Poverty, by America author Matthew Desmond says if the top 1% of Americans paid the taxes they owed, it would raise $175 billion each year: "That is just about enough to pull everyone out of poverty."

While retail sales bounced back in May after a deep drop in March and April, the wealthiest Americans are not spending as freely as they did before the pandemic. And that could limit the recovery.

African Americans are 40% less likely to own their homes than whites. And blacks are more likely to hold jobs that put them at risk of the coronavirus. The civil unrest follows decades of inequality.

Wages rose faster for low-income workers than for any other group in 2019. The gains are partly explained by the tight labor market. But increases in minimum wages also contributed to the gains.