There has been a lot written, said and thought about inequality in this country, especially with this last election….the populist resurgent has come on the heels of the inequality in the US.
Both Right and Left emphasizes it at every turn…..but is it as bad as they claim it is?
The answer is yes it is and believe it or not kt is worse than you think….
The more the ultra-rich prosper, the less they’re burdened with taxes, the greater the benefits for society as a whole. If you’re familiar with Republican economic theory of the past 40 years, you’ve probably heard this line of reasoning. In fact, just the opposite is true
Take it from the world’s third richest man, Warren Buffett, who recently noted that between 1982 and 2017, “the wealth of the 400 [richest people in America] increased 29-fold—from $93 billion to $2.7 trillion—while many millions of hardworking citizens remained stuck on an economic treadmill. During this period, the tsunami of wealth didn’t trickle down. It surged upward.”
The reality is the United States is now home to some of the worst income inequality in the developed world, and thanks to the recent passage of the Tax Cuts and Jobs Act, this wealth gap will grow exponentially wider.
Few want to believe the tale of the tape…..so inequality continues to grow and as it grows so will the outrage…..eventually that outrage will effect the results of elections….and that outrage will fuel the programs that address the inequality.
But can that outrage eliminate inequality?
I think it can but unfortunately not in my lifetime…..hopefully my granddaughter can see an end to the inequality.