lo, economic disparities have led to massive urban decay. Cities in the rust belt have millions living in poverty. This poverty is surrounded by rural communities that the rich escape the harsh realities of the city. They build large mansions and benefit from property tax inequalities that exist in Upstate New York. Many smaller hamlets have extreme poverty. W
ithin these communities you will find staunch advocates of Donald Trump and neo conservative policies. While they are poor and living check to check, they advocate to "drain the swamp" without any realization they live in the swamp. The basis of all of this poverty is systemic. One of the basic problems is income inequality. They drive by the mansions admiring the rich, without realizing that the problem is right in front of them.
In the United States, as in many countries with wealth disparities, the possibilities are endless. We have millions living paycheck to paycheck, while less than one percent of the population enjoys massive amounts of wealth. This use to be a formula for revolution. Instead, what was once a rallying cry for change, is now a rallying cry to run for President. The rich deserve to be rich. It is un-American to advocate for fair wages, or income redistribution.
Don't believe me? Want to call me a crazy left winger? Before you do, the facts are as follows:
Since 1995. the wealth inequality gap in the U.S. has been steadily widening. Ultra-wealthy Americans, the 0.01%, accounting for about 16,000 families control about 11.2% of the total wealth in the U.S. That's up from 5% in 1995.
Meanwhile home ownership for the middle class and poor has reached it'
s lowest levels. This is the American economy of the 21st century. Yet we think this is normal.
Our economy strongly relies on the minimum wage in order to support those with a maximum wage's lifestyle. Over the past 20 years, we have seen the slowest growth of wages in our nation's history. Yet, the rich continue to get richer. There is no cap on what one can earn, yet there is a cap on what should be paid regarding general labor.
Could the United States benefit from maximum wage laws? By capping the wages on our highest earners, this would allow for lower income wages to improve. The problem is that this kind of legislation is not even on the radar of our legislators. Is it even possible for our society to place a cap on income? Could we limit wealth?
We have to create a platform of discussion. People need to ask themselves, what good comes from excessive or inherited wealth? How does this benefit me? They will realize it does not. Instead, people believe in trickle down theories. Somehow, we benefit from the rich getting richer. Yet all the data concludes quite the opposite.
The truth is that wages are impacted by extreme wealth. For example, the Walton family of Wal Mart fame have built an empire from low wage jobs. Most decedents of Sam Wal Mart are billionaires. Mostly by inherited wealth. How does this benefit anyone including the Waltons? They live a life of buying and consuming for the sake of tax shelters. Not exactly the best use of resources.
It is not just the Waltons, the same can be found in many corporate models ruled by dynastic rule. Yet, for the most part, it goes unchallenged in our society.
The time has come for a discussion about extreme wealth in our country. Especially now. Our new President's cabinet will be representative of dynastic families. Social policies will continue to benefit the super rich. As the extremes become more apparent, and wealthy communities become more gated and secure from our observations, we have to reach out to non-believers and ask them to consider that an alternate reality exists when it comes to income inequality. We also have to ask people to examine their own realities and the perceptions that led us as a nation to allow such disparities to exist.
1 comment:
It is unfortunate that wealthy families, such as the Waltons, employ folks whose families must seek federal and state assistance programs in order to put food on their tables or rely on other tax-payer funded aid. There is definitely a break down in the system of income distribution.
Post a Comment