Infographics: Growing Polarization Between Rich and Poor Aggravates Social Inequality in the U.S.

The COVID-19 epidemic plunged the United States into the worst economic downturn since World War II. A large number of businesses shut down, workers lost their jobs, the gap between rich and poor widened, and the lives of the people at the bottom of society were miserable.

The rich-poor divide further widened. The website of Bloomberg reported on Oct. 8, 2020 that the 50 richest Americans now hold almost as much wealth as the poorest 165 million people in the country. The richest 1 percent of Americans have a combined net worth that is 16.4 times that of the poorest 50 percent. The epidemic has aggravated wealth inequality. The website of Forbes reported on Dec. 11, 2020 that over the past months of the pandemic, the collective net worth of America’s 614 billionaires has increased by 931 billion U.S. dollars. America’s poverty rate jumped to 11.7 percent in November 2020, up from 9.3 percent in June, according to researchers from the University of Chicago and University of Notre Dame.