U.S. Income Inequality Places It In Bad Global Company

Posted on Posted in Economy

Plutarch, the famous Greek historian, is attributed to saying “An imbalance between rich and poor is the oldest and most fatal ailment of all republics“. Whether we agree on what causes this problem (or cirumstance for those of you who do not see it as a problem) is not nearly as important as the inevitable outcome of an unsustainable economic imbalance.

Anyway, I prefer to keep this post brief and spare both readers and myself the drudgery of well researched facts mined from myriad partisan think tanks aiming their propaganda and agenda upon mainstream media. Instead, I will simply provide the numbers and let you chew on them for yourselves and infer what you choose. However, not before sharing my own two bits…

Seriously folks, as a leader of the free world and capitalism and a country which touts equal opportunity (not to be confused with equality in general) and a vibrant middle class, do we really want to be ranked 7 out of 23 when it comes to nations with disproportionately high percentages of income earned by the top 10 percent? Some of the countries on this list have valid reasons for being there, which are not necessarily related to entrepreneurship and free-markets. Instead, some common traits shared by them are corruption, nepotism, consfiscation and misappropriation of wealth through government subsidies, dubious tax breaks secured by bribes and arm twisting lobbyists, and just outright abuse of power in general. Are there any amongst you who do not think these avaricious vices are beneath US and the constitution of our nation’s moral character?

 

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Source: November-2014 – The Street dot com

 

 

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