Gary Stevenson says 'your kids will be poorer than you' — as U.S. income inequality widens

The affluent are getting richer and income inequality is widening.

The apical 1% of U.S. households controlled astir a 3rd (31.7%) of the nation's wealthiness successful Q3 2025, according to Federal Reserve information (1). Of those, the apical 0.01% — the richest of the affluent — controlled a whopping 14.5%.

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This worries erstwhile trader-turned-economist Gary Stevenson, who was a impermanent connected a caller occurrence of Scott Galloway's podcast.

"What I spot is rapidly increasing inequality of wealth," Stevenson said connected The Prof G Pod (2). And this is "directly causing rapidly expanding poverty, rapidly falling surviving standards."

Stevenson warns that increasing inequality means "your kids volition beryllium poorer than you."

While the billionaire people is rising, the mediate people is shrinking. "People request to recognize that we bash not unrecorded successful an infinite sum satellite and you cannot person a radical of radical who ain everything unless you and your radical of radical ain nothing," helium said.

While wealthiness taxes, property taxes, and stricter taxation enforcement could perchance reverse this trend, what tin the mean American bash erstwhile the cards look stacked against them?

Growing income inequality

If it feels similar beingness is little affordable these days, it's not conscionable your imagination. Despite gross home merchandise (GDP) growth, American workers took location lone 53.8% of nationalist income, which is the lowest level recorded since the Bureau of Labor Statistics started keeping this information successful 1947 (3).

At the aforesaid time, U.S. households successful the apical 1% gained astatine slightest 101 times much wealthiness than the median household betwixt 1989 and 2022, according to a 2025 Oxfam study (4).

And that spread is expected to widen. Tax reforms successful the One Big Beautiful Bill Act, for example, volition trim the taxation measure of the highest-earning 0.1% by an estimated $311,000 successful 2027, portion the lowest-income households are expected to look taxation increases (5).

The study describes this arsenic the "single largest transportation of wealthiness upwards successful decades."

Tax cuts aren't the lone crushed for this increasing disparity. Income inequality has "skyrocketed" implicit the past three-and-a-half decades "because of intentional argumentation choices that suppressed wages for emblematic families to accelerate income maturation astatine the top," according to the Economic Policy Institute (6).