I suspect the author doesn’t know the difference between income and wealth. Wealth is assets (items of value people own) minus liabilities (items of value that people owe) where assets are greater than liabilities.
THREE US residents (Bezos, Buffett and Gates) own more wealth than one half of the US population.
10% of US households receive ($113,820 and above according to Emmauel Saez). They receive 50.5% of all income which is, obviously, more than the lower 90% combined.
According to the National Employment Law Project 42% of US workers earn less than $15 per hour or $31,200 per year working fifty two weeks.
It’s incredibly important and one of the first steps if you’re addressing the issues of income and wealth inequality to ask the question: Where does profit come from?
Neoclassical economists have no idea and don’t even understand the question.
It can be shown that profit comes from unpaid labor time of workers producing commodities. That is, there are high income, i.e., rich people because of capitalist exploitation. So, capitalism is an inherently exploitative economic system that is destroying the ability of the planet to sustain human life. Unless decisions on what to produce, how to produce it and how much are taken away from private capitalists basing their decisions on profit, the working class and Earth itself are doomed.
Whoop! There it is!