The gap between the US and the rest of the West is clearly (if you look at the charts) closing due to rapid catch-up growth from the others, not decline in the US.
Wouldn't it be kind of odd if the rest of the developed world did not catch up to US lifestyle standards with the spread of technology and capital?
My understanding is that all first world countries are experiencing growing income inequality, it's just that the US/UK have much larger income inequalities.
closing the gap should mean empowering people to earn a better living. What it actually means is taking more money from the wealthy and middle class and giving it to the poor through taxes.
Wouldn't it be kind of odd if the rest of the developed world did not catch up to US lifestyle standards with the spread of technology and capital?