--- title: MONEY: A Guide to Income Inequality Across the U.S. | TIME description: A closer look at the widening gap between America’s one percent and everyone else. canonical: https://time.com/video/Djqei36o/ og:title: MONEY: A Guide to Income Inequality Across the U.S. og:description: A closer look at the widening gap between America’s one percent and everyone else. og:url: https://time.com/video/Djqei36o/ og:image: https://cdn.jwplayer.com/v2/media/Djqei36o/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: MONEY: A Guide to Income Inequality Across the U.S. twitter:description: A closer look at the widening gap between America’s one percent and everyone else. twitter:image: https://cdn.jwplayer.com/v2/media/Djqei36o/poster.jpg?width=720 --- # MONEY: A Guide to Income Inequality Across the U.S. > Sponsored content. Supplied in partnership with TIME. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: MONEY: A Guide to Income Inequality Across the U.S. [Watch (HLS stream): MONEY: A Guide to Income Inequality Across the U.S.](https://cdn.jwplayer.com/manifests/Djqei36o.m3u8) (3:16)  _Published 2018-08-29. A closer look at the widening gap between America’s one percent and everyone else._ --- Jul 28, 2023 12:28 AM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Minding The Gap: A Look At Income Inequality In The U.S.](/video/SkHW4a2N/) ### Minding The Gap: A Look At Income Inequality In The U.S. [Fourth of July Fireworks Across the U.S.](/video/KlBvTuIq/) ### Fourth of July Fireworks Across the U.S. [The City with the Highest Gap in Income Equality](/video/8Cz0NDQM/) ### The City with the Highest Gap in Income Equality --- ## Transcript [ MUSIC ] It's suppose to be a great time for America's working class. The unemployment rate has reached record lows. There are now more job openings than unemployed workers in the United States for the first time since the government began tracking this data. But over the last 30 years income inequality in America has increased substantially, with the rich getting richer and the poor geting poorer. As it stands, the US has the 40th highest level of income inequality out of 150 countries. According to the economic policy institute the top 1 % took home approximately 22 % of all income in 2015. And to be in the top 1 % of the United States in 2015, a family would have to earn at least $ 421, 926 before taxes. Meanwhile, the nationwide average income for the rest of the 99 % is $ 50, 107. In affluent areas, the threshold to reach the 1 % is much higher. In New York City for example. You'd have to earn at least $ 744, 426 annually to be considered a one percenter. In Jackson Wyoming home to the ultra wealthy like **** Cheney. You'd have to rake in at least $ 1. 7 million to join the 1 % club. Nationwide, the average income for the top 1 % is $ 1. 3 million. Many Americans can't remember anything other than an economy with such inequality. But this wasn't always the case. From 1928 8 until 1973, the share of income held by the top 1 % actually declined in almost every state. In the 1950s and 60s, poor and middle income Americans actually saw greater income growth than rich ones. Now while unemployment remains low, and the economy is doing well, wages for workers have barely budged. But from 1965 to 2016, the Economic Policy Institute reports that CEO pay has increased from about 20 times the average worker salary, to 271 times more. Amazon's CEO, Jeff Bezos, who is the world's richest man, now needs only about nine seconds to make what one of his median employees earns in a year. In light of insane CEO pay, it's not surprising that even some high earning employees feel like they should be making more money. According to a recent survey of 2, 800 US workers conducted by Robert Half, 37 % of respondents earning over six figures felt like they were underpaid. While that stat may seem ridiculous, many six- figure earners live in the most expensive places, like San Francisco, to be near companies like Google, Apple and Facebook. And when the top 1 % of San Franciscans are making at least $ 943, 782, everyone else is bound to feel the pinch. Of workers can secure a big slice of the econonmic pie at a time of low unemployment. When can they? President Trump spends a lot of time arguing American workers are getting a bad deal. And he's right. 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