Income inequality is an extreme concentration of wealth or income in the hands of a small percentage of a population. It has been described as the gap between the richest and the rest.
The U.S. has the highest level of income inequality of any industrialized nation, according to Inequality.org.
Extreme, growing income (and wealth) distribution is bad for America because, beyond a point (which economists can measure and which the U.S. passed in the 1980's), income inequality SLOWS economic growth.
It is also unjust, if that matters to you.
How has income inequality affected the U.S. in the past?
Income inequality is plaguing the U.S. economy, but a peek into the past reveals that the current situation is largely a result of government policy.www.investopedia.com
Bring in endless poverty, make 95% of America poor. The commissars at the top will live just fine.