whether those who are earning higher incomes should pay an even higher share of taxes.

However, labor markets do create considerable income inequalities. In 2020, the median American household

income was $67,521 (the median is the level where half of all families had more than that level and half had

less). For family households, the median was $86,372; for non-family households, it was $40,464. The Census

Bureau also reported that in 2020, there were 37.2 million people living in poverty, representing 11.4% of the

population. Think about a family of three—perhaps a single mother with two children—attempting to pay for

the basics of life on perhaps $17,916 per year. After paying for rent, healthcare, clothing, and transportation,

such a family might have $6,000 to spend on food. Spread over 365 days, the food budget for the entire family

would be about $17 per day. To put this in perspective, most cities have restaurants where $17 will buy you an

appetizer for one.
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