Inequality has risen from 1970 to Trump − that has 3 hidden costs that undermine democracy

Demonstrators march outside the U.S. Capitol during the Poor People's Campaign rally at the National Mall in Washington on June 23, 2018. AP Photo/Jose Luis Magana

America has never been richer. But the gains are so lopsided that the top 10% controls 69% of all wealth in the country, while the bottom half controls just 3%. Meanwhile, surging corporate profits have mostly benefited investors, not the broader public.

This divide is expected to widen after President Donald Trump’s sweeping new spending bill drastically cuts Medicaid and food aid, programs that stabilize the economy and subsidize low-wage employers.