Analysts and investors like to use letters to describe the condition of the U.S. economy and markets. V-Shaped, which is a sudden drop followed by a surge; W, the ultimate fake out, where output sinks, rises and then falls again; U, where after a sudden shock, the economy meanders and then starts to rise; and
Income and wealth inequality in the United States is substantially higher than those of almost any other developed nation, and they are on the rise, sparking an intensifying national debate. The 2008 global financial crisis, the slow and uneven recovery, and now the economic shock caused by the pandemic of a new coronavirus disease, COVID-19,
The Democratic Iowa caucuses happened on Monday, and inequality has been one of the biggest issues in the nascent presidential campaign.
Among the frontrunners in the race, Senators Bernie Sanders and Elizabeth Warren have made inequality and related issues central to their campaigns. Both candidates support drastically raising taxes on the wealthiest Americans, along with programs