Middle-Class Share Shrinks as Income Gap Widens and Policies Falter

Using a common income-range definition, the middle class once comprised a clear majority of U.S. households but now represents just over half of adults, with its share of national income falling dramatically. Income distribution has become increasingly polarized, illustrated by the CEO-to-worker pay gap expanding from 60-to-1 in 1989 to 281-to-1 in 2024. The piece attributes this shift to crony capitalism, expansive government debt, and policies that encourage low-interest borrowing and open immigration, which together depress wages and housing affordability.

Wealth concentration is stark, with the top 10% holding nearly 90% of stock assets while median wealth declines. The author calls for fiscal restraint, removal of tax breaks such as carried-interest subsidies, and a crackdown on corporate profit surcharges tied to public-assistance workers, suggesting these steps could revive the middle class.