Must read:

"Like an odorless gas, economic inequality pervades every corner of the United States and saps the strength of its democracy. Over the past three decades, Washington has consistently favored the rich -- and the more wealth accumulates in a few hands at the top, the more influence and favor the rich acquire, making it easier for them and their political allies to cast off restraint without paying a social price."

The rest of the story:
The Broken Contract: Inequality and American Decline by George Packer (Foreign Affairs)

Extra credit:
The Class War Has Begun by Frank Rich (New York)