No. of Recommendations: 9
<We've got historically low unemployment. The big problems are high interest rates, inflation, lack of starter houses, affordable health care.
Notice that none of those are caused by illegal immigrants? Notice the inflation came from the Trump admin, so we had to raise interest rates to quell it?>
All True. Another huge problem is vast wealth inequality. The folks at the top have all the wealth.
Thanks to Republican tax cuts for the wealthy, the inequality of wealth has substantially increased in the United States in recent decades.
The 400 wealthiest Americans own as much wealth as America's bottom 64%, nearly two-thirds of the nation's households, combined.
More than 10% of families have negative net worth.
Just look at the The Gini coefficient, it is used to determine a countries wealth inequality, the higher the number the higher the wealth inequality.
The U.S. currently has a rather high 85% Gini coefficient. That puts us right in line with Haiti and Gambia. (No other industrialized country has a number that high!)
Janet Yellen said, "There's no question that we've had a trend toward growing inequality and that this trend can shape and determine the ability of different groups
to participate equally in a democracy and have grave effects on social stability over time."
Economist Thomas Piketty argues that, "Extremely high levels of wealth inequality are incompatible with the meritocratic values and principles of social justice
fundamental to modern democratic societies and that the risk of a drift towards oligarchy is real and gives little reason for optimism about where the United States is headed."
The answer is simple. We need to tax the wealthy, like we did in the 1940's, the 1950's, the 1960's and the 1970's and part of the 1980's.
