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LuckyTheDog

(6,837 posts)
Fri Apr 29, 2016, 02:32 PM Apr 2016

Inequality will get worse unless we make dramatic changes

By Bob Lord

Imagine, after a deep sleep, you suffered the fate of Rip Van Winkle and woke in the spring of 2040. What might you find?

Among other things, maybe a presidential candidate railing against America’s concentration of wealth. Except this time, it’s not the 1 percent that owns as much wealth as the bottom 90 percent — it’s the top hundredth of a percent.

Could it get that bad? Yes, quite easily. In fact, that nightmare is already on the way.

To see this better, take a step back in time. If you woke up 24 years ago, you could hear candidate Bill Clinton lamenting the fact that the top 1 percent owned as much wealth as the bottom 90 percent.

Today, as anyone who’s heard Bernie Sanders give his stump speech knows, it’s the top tenth of 1 percent who owns that much. That’s 10 times more concentrated — and it’s happened over just six presidential cycles. If the trend continues, the scenario I presented at the outset will be a reality.

MORE HERE: http://yonside.com/inequality-will-get-worse-unless-we-make-changes/



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Inequality will get worse unless we make dramatic changes (Original Post) LuckyTheDog Apr 2016 OP
Change With Clinton or Trump? Katashi_itto Apr 2016 #1
Clinton would be far better than Trump (nt) LuckyTheDog May 2016 #2
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