Middle-income Americans are pulling back, splitting from the top earners who are still driving the majority of growth.
Receiving dividends among investors. Art collage.
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The wealth gap in America is taking a new shape — and it’s no longer just a divide between the well-off and the financially vulnerable. In recent years, economists have described the economy as “K-shaped,” with higher-earning households continuing to spend and drive growth (the top of the “K”), while lower-income Americans pulled back (the...
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