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> But this level of wealth concentration and inequality is detrimental to the fabric of a society. We’re not better off, we’re not more innovative, we’re not he
by monoideism 6y ago
> But this level of wealth concentration and inequality is detrimental to the fabric of a society. We’re not better off, we’re not more innovative, we’re not healthier or more cohesive or happier when this happens.
I agree 100%, but you're ignoring the other factor that is detrimental to society: social factors. Notably, the divorce rate and single-parent rate among poor and working class Americans of all races has skyrocketed. Now, top earners will often tell you that there's nothing wrong with divorce or single-parenthood, but observe what they're actually doing themselves! Their low divorce and single-parent rates have remained steady over the past few decades, even as everyone else's is plummeting [1].
In addition, the middle and working class are losing their social support networks. Church attendance is down, union membership is down, and volunteer organization participation is down among those groups. In contrast, most top earners have large and robust social networks.
I could go on and on about other social issues. Yes, wealth and income inequality is a big problem, but it's only one aspect of the decline of America's middle and working class (excluding the upper-middle class, which has continued to rise). We need to stress and incentivize social factors as well. The non-wealth and non-upper-middle-class should emulate what the top earners do in their social lives, not what they say.
I still strongly support a wealth tax, and higher income taxes, as long as they're distributed directly to our citizens and not used to build additional government bureaucracy.
1. https://www.brookings.edu/research/middle-class-marriage-is-declining-and-likely-deepening-inequality/ https://www.brookings.edu/research/middle-class-marriage-is-...
- taurath 6y agoCould also be the tail wagging the dog. People arrested for say being drunk in public are gonna be broke, because they don’t have mansions to drink in. Could be that the cultural problems you’re describing follow whole towns being hollowed out as all wealth is transferred to winner take all cities, as free trade knocks out industries with no help nor replacement.
- monoideism 6y agoYes. It's also very possible that the two aspects are synergistic.
- triceratops 6y agoFinances are generally a big cause of divorces. Have you considered that upper-class couples have low divorce rates because they have money? Rather than they are upper-class because they don't get divorced. Don't get me wrong, divorce is a massive destroyer of wealth. But happy couples don't generally get divorced. And financial stability is a big contributor to happiness.
- monoideism 6y agoYes, I acknowledge that correlation != causation. And these are reasonable questions.