Final answer:
The living conditions of the ultra wealthy in American society have improved markedly compared to everyday citizens. This improvement is contrasted by a decline or stagnation in the conditions of the middle class, suggesting a widening wealth gap influenced by economic and policy changes.
Step-by-step explanation:
The question asks whether the living conditions of the ultra wealthy in American society have improved, declined, or stayed the same when compared to everyday citizens. It is evident from historical trends and economic data that living conditions for the ultra wealthy have significantly improved. In contrast, the everyday American citizen, particularly those in the middle class, have experienced stagnation or declines in income and wealth since the 1970s. Corporate profits and CEO pay have seen substantial increases, by more than 141 percent and 298 percent respectively, indicating a widening wealth gap. Meanwhile, many struggle with basic necessities like rent, food, and healthcare.
Nevertheless, when observing long-term trends, the general standard of living has risen, with significant changes in workweeks, life expectancy, health, education, and environmental quality since the early 20th century. Unfortunately, the benefits of economic growth have not been evenly distributed, with the richest families owning a disproportionate amount of wealth, underscoring the severity of income inequality in the U.S.
The decreasing size and wealth of the middle class combined with the rising wealth and income of the ultra wealthy highlight deepening socio-economic divides, which are influenced by various social, political, economic, and cultural factors, such as economic restructuring away from manufacturing, tax policy changes, and the logic of supply-side economics.