The American economy suffers from a split personality, and Donald Trump appears to be the chief beneficiary of this illness. A study just released by Pew shows that for the first time in decades, the middle class is no longer in the majority in the United States. Instead, the upper and lower classes are. Now the middle class—defined as people earning between two-thirds and twice the median income (from $42,000 to $126,000 a year)—constitute just under 50 percent of the earning populace. Twenty-nine percent are in the lower brackets, and 21 percent in the upper.
Read moreSimon NYC 2014 Conference: Zachary Karabell
Zachary Karabell, Economic Analyst, Political Historian, and Award-Winning Author, on how important it is to take risks in order to grow and achieve success in any industry, and the surplus of capital versus income inequality.
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