In a speech on Dec. 4, 2013, President Obama decried "an economy that's become profoundly unequal" with the end result being that "a family in the top 1 percent has a net worth 288 times higher than the typical family."
There are remedies. National and state laws mandating more progressive taxation could transfer some of the wealth held by the top 1 percent into public coffers, where it could be allocated to alleviate the precarious existence of Americans.
Will that happen? Fat chance.
*Some research done a few days after writing that the word "precarity" was "made up," produced information (in Wikipedia) that the word has been around since at least 1952, being used in that year by Dorothy Day, one of my favorite people in the world. My apologies, again, to In These Times.