I don't see a strong connection because the wealth gap has always expanded. IMO, The biggest problem facing the lower quintiles is the disappearance of jobs that pay a living wage without a postsecondary degree. This will only be amplified in the coming years as automation becomes more prevalent. I very much agree with Andrew Yang that financial literacy should be mandatory in schools. Children need to be taught early how important education is to their future.
Last year was the first year since we've been tracking the statistic that we've had more open jobs than people seeking employment. Today there are approximately 7 million more open jobs than people seeking employment. Most of these jobs require a degree, and they pay a living wage. Opportunity is out there for anyone that wants to work to obtain it.
I'm all for narrowing the income & wealth gap, but we need to do it the right way. It should be done by pulling the bottom up through higher education as opposed to pulling the top down through significantly higher taxes.
