One can speak about income and wealth inequality with words that make this evil seem like just an antiseptic endeavor. One can try to continue to live under the delusion that in America if you work hard, if you have a great idea, and if you are smart about it, you have equal access to success.
Sadly, there is a built in bias against the middle class and the poor that ensures there is not equal access to success or wealth but mostly a selective access. That selection is not necessarily fair nor does it go to the most deserving.
The owners of investable capital who continue to profit by taken an unfair share out of the economy, are a very small percentage of the population. This is the “class” that selects with whom and where to invest that capital.
It is even more sinister than that. The owners of capital through the patent system can stymy the small entrepreneur attempting to innovate (e.g., the small software developer sued and dragged into court for a design some corporation claims they hold a patent for). The farmer can never get ahead if he must buy seeds because his fields are cross pollinated with genetically modified seeds that are owned by a corporation. Politicians bribed by the wealthy class pass laws (regulations) that effectively protect businesses from competition (e.g., the hydrocarbon industry stymying the effort of alternative sources of energy through policy and deception).
It is important to understand America’s wealth and income inequality as detailed in the video. It is more important to understand the causes which include both the institution of supply side economics for the last thirty plus years, outsourcing of the American jobs, and bad tax policies. It is essential that solutions are understood as absent correcting this problem, the systematic destruction of the middle class will continue in an accelerated fashion.
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Copyright 2013 Egberto Willies