How Bad is the Inequality in America Today?


You aren’t going to like these facts, but America is experiencing the worst inequality in history … and it will only get worse unless we change policy. Inequality in the U.S. is now the highest ever recorded in the country.
Inequality in America today is twice as bad as in ancient Rome, worse than it was in Tsarist Russia, Gilded Age America, modern Egypt, Tunisia or Yemen, many banana republics in Latin America, and worse than experienced by slaves in 1774 colonial America. Economist and inequality expert Thomas Piketty notes that – according to an important measure – inequality in America today is the worst in world history:
For those who work for a living, the level of inequality in the U.S. – writes Piketty – is “… probably higher than in any other society at any time in the past, anywhere in the world …”
In other words, there might have been some squalid country in the distant past where the disparity between people without any job and the king was higher than between a jobless American and the top fatcats in the U.S, but there is no record to validate that fact. The spread between the minimum wage American worker and the American oligarch is the greatest in world history. Indeed, inequality in America has become so extreme that the “99% versus the 1%” meme is grossly inaccurate … because it’s really the .01% versus the 99.99%. 85 people in America have more wealth than 250 million Americans combined! In fact, they have more wealth than 4.5 billion people globally!
Paul Krugman notes:
A lot of what we know about inequality actually comes from Piketty, because he’s been an invisible presence behind a lot. So when you talk about the 1 percent, you’re actually to a larger extent reflecting his prior work. But what he’s really done now is he said, “Even those of you who talk about the 1 percent, you don’t really get what’s going on. You’re living in the past. You’re living in the ’80s. You think that Gordon Gekko is the future.” And Gordon Gekko is a bad guy, he’s a predator. But he’s a self-made predator. And right now, what we’re really talking about is we’re talking about Gordon Gekko’s son or daughter. We’re talking about inherited wealth playing an ever-growing role. So he’s telling us that we are on the road not just to a highly unequal society, but to a society of an oligarchy; A society of inherited wealth, “patrimonial capitalism.” In fact, we are already there.
So we are going probably, unless something gets better, we’re going to look back nostalgically on the early 21st century when you could still at least have the pretense that the wealthy actually earned their wealth. And, you know, by the year 2030, it’ll all be inherited. In other words, we’re going from oligarchy to dynastic royalty.
Nobel Prize winning economist Robert Shiller and Former Goldman Sachs managing director Nomi Prins also say that inequality may get much worse than it is now. Mainstream economists like Krugman – who long discounted the importance of inequality – now finally admit that runaway inequality destroys the economy. Unfortunately (and ironically), the policies which they push are the very thing causing extreme inequality in the first place.
The sad reality is that “We The People” have the ability to correct this gross injustice by simply casting a well informed vote to change the government policies these oligarchs have pushed through CONgress while we have apathetically snoozed away.
It is no accident that voter suppression laws are being sought in nearly every state. It is no accident that bills are being passed to suppress our constitutional rights to assembly and free speech. It is no accident that our local police forces look like military special operations units. It is no accident that there is resistance to raising the minimum wage to a livable wage in the 21st century. It is no accident that we are being pitted against each other along religious and anti-government lines. It is no accident that that our schools are crumbling and our educational system is in shambles. It is no accident that even after the affordable health care act has passed that CONgress has voted 50 times to repeal it and states have opted out of Medicaid expansion. It is no accident that mainstream media create “facts” that really don’t exist or that 5 corporations own 96% of the major media outlets in this country.
Our only question is why do we not see what’s being done to us. As a majority, do we not struggle to pay for our children’s education? Do we not face the financial hardships of a catastrophic illness? Do we not struggle to feed and house our families? So then, why do we not unite and fight back against the reality staring us in the face? Why do we not say enough?!
Not one single incumbent should be re-elected in 2014, not one! Not one “Tea Party” candidate should stand a snow ball’s chance of winning. The most elected candidates should be “none of the above”! We should be occupying congress every day! We should be calling for the arrest and criminal prosecution of every congressional member and all of the banksters.
Truly if you do understand what is really going on here, you are a slave with a slave mentality. Is this what you really are? Is this what you want for your children’s future? If you wake up and it’s too late, there is a cold hard reality that awaits you…You were responsible for your reality because you did not act, you did not take the time to realize and resist. You put the chains on yourself and your family for the foreseeable future.

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Author: redhawk500

International business consultant, author, blogger, and student of life. After 35 years in business, trying to wake the world to a new reality. One of prosperity, abundance, and most importantly equal opportunity. it's time to redistribute wealth and power.

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