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While I do believe that inequality is one of the biggest, if not the biggest, issue in modern developed nations, isn't the rise of the inequality largely due to
by addicted 9y ago
While I do believe that inequality is one of the biggest, if not the biggest, issue in modern developed nations, isn't the rise of the inequality largely due to accumulation of wealth, and not income amongst the richest?
I see a lot of ire being targeted towards people making close to a million, and while the 1% makes for a good slogan, I believe the real problem is actually the 0.1 - 0.01% whose wealth has skyrocketed. And you don't reach the 0.1% with executive pay, but rather due to making money on existing capital.
Wasn't Picketty's research evidence that the problem isn't income, but rather accumulated wealth?
- antisthenes 9y agoIt is, but any measure to reverse-tax and redistribute wealth is a non-starter anywhere in the US, even the most left-learning states and municipalities. So yes, that's the cause, but it's unlikely anything will ever be done about it.
- deleted 9y ago[deleted]
- r00fus 9y agoThis is really prescient. It's not the "pay" but the capital gains. And something like a very minimal transaction tax would probably do far more to address inequality. By focusing on people rather than the financial instruments, the politicians can be seen to do something (which is guaranteed to not fix the problem fundamentally).