Remember that wealth gap we’ve all heard so much about? Come to find out, it’s not just crunching people in Maine, Indiana, and Nevada, it’s hurting the futures of our neighbors, our children, and our communities right here in Wisconsin.
According to Pulling Apart 2015: Focus on Wisconsin’s 1%, a new study by the Wisconsin Budget Project and Center on Wisconsin Strategy (COWS): “Wisconsin’s growth and prosperity are not being widely shared. Over the last 40 years, Wisconsin’s richest residents have experienced dramatic increases in income, while Wisconsinites not among the very highest earners saw little or no income growth. In 2012, Wisconsin reached a milestone, with a record share of income going to the top one percent.”
The widening chasm between the very highest earners and everyone else poses hardships for Wisconsin’s families, businesses, and communities. Families can’t thrive when income growth is nearly non-existent for everyone except those at the top, and businesses need a strong middle class bolstered by broad-based income growth to generate customers. Wisconsin communities pay the price if too many families and businesses fail to prosper.
