'The least affluent 70 percent of American households had less wealth 2018 than at the beginning of 2007, according to the Federal Reserve . The top 30% of households saw some small increase, but the big gains were heavily concentrated at the very top, in the hands of a small proportion of extraordinarily wealthy families. Also, public and private sectors have largely refrained from investing the tax cuts -- companies have handed out dividends & repurchased shares, distributing profits among the already wealthy rather than develop the intellectual capital and equipment that could increase growth in the decades ahead, as investments in public universities, highways, fundamental scientific research and satellite networks did in the past. There is also reason to worry that America has squandered the opportunity for a more prosperous future.'
At www.nytimes.com
