It’s unclear just what measure of wealth or income is being used in the cite. Quite often, statistics are presented in a way tthat overestimates income disparity, by means such as:
- Ignore income tax
- Ignore welfare payments, food stamps, medicaid, etc.
- Ignore family size
- Ignore changes over time
#2, #3, and #4 are almost always done. Official government statistics do not include in “income” most of the benefit programs. As a result, the poor never seem to improve their lot, no matter how much these progams expand. Duh! Actually the true total income of the poorest Americans is substantially larger than shown.
Most government income statistics show family income. This causes two misunderstandings. One sometimes sees articles crying about the low growth rate in average income. Average family size has declined, so per person income has increased a lot more than family income.
Also,“rich families” have larger sizes than “poor families” (partly because the large families include more workers.) Thus the difference between rich and poor in per person income is less than the difference in per family income.
#4 is particularly key. Distributions of income are generally shown as a point in time. It’s easy to fall into the trap of assuming that most of us stay in the same income bracket our whole lives. This is not so. IIRC a majority of people move 2 or more income quintiles during their lives. I, personally, have been in all 5 income quintiles at one time or another.
You ask about “doing something.” Something is already being done. Rich people are continually becoming middle class or poor and vice versa. There are all kinds of opportunities to make money and to use it up or lose it.