America's Wealth Divide
New NBC News poll reveals many Americans feel deeply divided by wealth.
A record 71% of Americans now believe the United States is divided into "haves" and "have-nots," according to a new NBC News poll released in June 2024. That is up from 61% in 2019 and nearly triple the 26% who felt that way in 1988.
The survey of 1,000 registered voters found that 63% say their family's income is falling behind the cost of living. Democratic pollster Jeff Horwitt, who helped run the poll, said the feeling of being a "have-not" is "more pervasive than ever" — even as some economic data looks strong.
Wealth Gap Has Grown Sharply Over Decades
The poll numbers reflect real shifts in how money is distributed. The top 1% of U.S. households now hold about 30% of all household wealth, according to Federal Reserve data from late 2023. The bottom 50% hold just 2.6%. CEO pay has grown from 20 times the average worker's wage in 1965 to more than 344 times today, per the Economic Policy Institute.
The COVID-19 pandemic made things worse. Higher-income Americans saw their home values and stock portfolios surge. Lower-income workers lost jobs first and felt the highest inflation when the economy reopened. Economists call this the "K-shaped recovery" — one group went up, the other went down.
Inflation Eroded Purchasing Power for Millions
Between 2021 and 2023, the U.S. saw its highest inflation in 40 years. The Federal Reserve eventually brought the rate of inflation down by 2024. But prices did not fall — they stayed high. For many Americans, this felt like a permanent pay cut. Credit card debt hit a record $1.13 trillion in 2024, according to Moody's Analytics chief economist Mark Zandi.
Republican pollster Bill McInturff, who co-conducted the NBC poll, said "the cost of living remains the primary lens through which voters view their economic standing." Both parties' voters agree the gap exists. But they disagree sharply on who is to blame and what to do about it.
Partisan Split on Blame But Not on the Problem
The poll shows broad agreement across party lines that a wealth divide exists. Among Democrats, 85% say the country is split between rich and poor. Among independents, 68% agree. Even 58% of Republicans say the same, per NBC News. Where they differ is on the cause.
Progressives like Sen. Bernie Sanders point to the "billionaire class" and call for wealth taxes. Conservatives frame the gap as a split between "coastal elites" who benefit from government spending and working-class Americans who pay for it through higher prices. Both sides are using the 71% figure to push their platforms heading into the 2026 midterms.
Young Americans Feel the Divide Most Acutely
For Gen Z and Millennials, the wealth divide often comes down to one thing: homeownership. Skyrocketing home prices have put buying a house out of reach for millions of younger Americans. In their view, being a "have" simply means owning a home. Being a "have-not" means renting indefinitely while home equity builds for others.
Some economists push back on the gloom. A data-driven minority argues that real wages for the bottom 25% of workers are actually rising faster than for the top 25%. They say the poll reflects a "psychological malaise" driven by social media and news cycles more than actual financial hardship. But with 71% of voters feeling left behind, that argument has found little political traction.
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