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142. What’s Impacting American Workers?
People I (Mostly) Admire
Education's Role in Income Inequality: The Divide Grows Wider
Income inequality has significantly escalated, closely linked to educational achievement. Individuals with only a high school education have seen stagnant or declining real incomes since the 1980s, particularly among men, while those holding college or graduate degrees experience substantially higher wages—up to four times what they earned in 1980. The wage gap between those with and without college degrees has more than doubled, indicating a pronounced divide. Additionally, advancements in technology have enhanced the productivity and value of skilled professionals, creating a 'superstar effect.' The real value of the U.S. minimum wage has decreased by 30 to 40 percent since the Reagan era due to inflation, exacerbating income disparity at the lower end of the spectrum. The decline of labor unions, which traditionally bolstered wages for blue-collar workers, and shifts in tax policy that favored the affluent have also contributed to widening income inequality, reinforcing the precarious economic position of lower-income individuals.
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