Using a wide variety of data on family incomes, taxes, wages, unemployment, wealth, and poverty, this book closely examines the impact of the economy on the living standards of the United States. An executive summary gives an overview of the economic realities that characterize the state of the working nation. Other introductory materials include an introduction to the material and information on the presentation and methodology. Chapter 1 examines changes in income level in recent years relative to other periods since 1947 and the growth of inequality and its causes. It shows that pretax incomes of most families have stagnated, whereas incomes of wealthy families have grown significantly. Chapter 2 focuses on changes in the level and distribution of taxes to examine the extent to which the tax system has exacerbated or ameliorated the slow and unequal income growth of the 1980s. The third and fourth chapters examine the labor market trends (wages and employment) that are at the heart of the growth in inequality and the sluggish income growth. Chapters 5 and 6 broaden the income analysis by examining trends in wealth and poverty. Chapter 7 examines income trends by geographic location (region/states, urban/rural). Chapter 8 shows how Americans are losing access to education, housing, health care, and child care. Chapter 9 compares trends in the U.S. to those in other advanced countries. Appendixes include table notes, figure notes, background information on analysis of wage data from the Current Population Survey, and a 136-item bibliography. (YLB)