Wealth transfer from affluent to poor has increased from $4 trillion in 2001 to $8 trillion in 2015, according to a new report from the Center for American Progress.
The report also found that income from the wealthiest Americans was increasing faster than income from middle-class Americans and working class Americans, a phenomenon that is mirrored across other income classes.
More than a third of the increase in income from high-income Americans is due to the rise of the super-rich, with incomes of the 1 percent up nearly 30 percent since 2001, and more than 20 percent from the bottom 20 percent of households.
As the country continues to grapple with the economic fallout of the 2016 election, the report finds that the income of the poorest Americans has stagnated or even declined.
“In a world of growing inequality, Americans are struggling to maintain and increase their incomes while the incomes of those at the top rise,” the report says.
While the number of people in poverty has increased since 2001 by more than 2 million, the increase is largely driven by the decline of the middle class and the increase of the very wealthy, according the report.
Many people in the top one percent of earners have seen their incomes stagnate, the study said.
The middle class, meanwhile, has also seen its income stagnate or decline, as its share of total income has increased by nearly two-thirds over the last 10 years, from about 20 percent in 2001, the most recent year for which data is available.
The report notes that while the number and percentage of people living in poverty remains high, it has declined in the last decade and is projected to drop to 10.5 percent in 2030.
President Donald Trump has pledged to tackle the root causes of poverty, including tax reform, education, healthcare and infrastructure, and he has proposed tax cuts for the wealthy.
Trump has also said that Americans will have to pay more for food and other necessities if they want to achieve universal health care coverage.
Despite his promises, the White House has been unable to implement these proposals.
House Speaker Paul Ryan said in February that the Trump administration should address the issues at hand.