I am asked so often, why does inequality of wealth matter? In trying to think of a way to help people understand why its so bad, I came up with this example
for my example we will use the fact that the top 400 wealthiest in our country hold as much wealth as the bottom 150 million people
Lets say that those 400 people have only a million dollars each (they actually hold of course much more) which makes 400 million dollars
Now we look at the fact that 150 million people hold 400 million dollars (and for our example, we will pretend they all have equal amounts) and that leaves each person with 2.67 to hold and to spend.
Those 400 people, just because of their small amount, can not spend enough money to have any impact on our economy, and the 150 million lowest income in our country, do not have enough money to spend, and thus have a negative impact on our economy.
That is the problem with inequality of wealth and what it does to the economy. The reason for higher progressive taxation, including carried interest and capitol gains, and inheritance sur charge on very large estates, is to keep the inequality of wealth to a smaller ratio, thus giving more people the money needed to spend and use services, which then propels our economy and leads to job creations.
If the federal government does not institute progressive taxation soon and at the same time also address the problem of CEO vs. employee pay (now at 300 to 500 times) and get it down to a ratio of no more than 50 times, and at the same time jump start our economy with jobs programs and amped up safety net programs, our country will continue its downward spiral. There is no good outcome ever when we have this high inequality of wealth ( we share the dubious honor of having among the 4 highest inequality of wealth in the world.
MAY JOY AND HARMONY FILL YOUR LIFE I would like to add that its up to all of us, to keep up this movement and not stop. That’s why I have been signing petitions and emailing our elected officials and also at the same time reading the bills that they are looking at, Hopefully, more and more people will do the same and we will reclaim our government , once again, from corporate dollar. Never forget how important your voice is, it takes all of our voices united to enact the changes needed in our country. I know we can do it