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The way the economic system is in the US and many other countries each year the ratio will keep getting worse till the system breaks. If the economy grows 2-3%
by xbmcuser 5y ago
The way the economic system is in the US and many other countries each year the ratio will keep getting worse till the system breaks. If the economy grows 2-3% and 80-90% of the growth is captured by 1-2% of the population each year more and more wealth moves to the rich.
Taxing the rich is just 1st part of the solution the 2nd part is getting that money into the hands of the actual poor where as currently larger part of government taxes go back into the pockets of the rich. Food stamps subsidised health care etc are the bogey man created to hype up the right and the left but majority of that money also goes back to the rich.
- q1w2 5y agoThese data points often just omit the opposite happening during down cycles of the economy. In 2008, the richest 1% lost, by far, the most money, even measured as a percentage. The reason these trends seem perpetually unsustainable is because the authors of these articles are always switching metrics and altering class definitions in order to make dramatic titles that folks will click on. These exact same titles have been present for as long as I can remember reading newspapers - since the 1970s.
- jokoon 5y ago> till the system breaks Meaning? Economic crises rarely caused virtuous political change.