Deck16

(from NYTimes.com)

A startling graph showing rising income inequality in the US.

I notice that we have to go back to the 1920s to see similar inequality. If the trend continues, what will be the new historical comparison point? Feudalism? What a proud day that will be for the USA.

What’s the solution? It is very hard to treat the cause, so for now we can realistically only manage the symptoms. I say: don’t be afraid to tax this 1%. I’m no economist or policy wonk so I don’t want to be specific. All I know is that no-one needs that kind of money.

(In Australia things are better. The top 1% of the population owns about 10% of the wealth. It is trending upwards, however.)

(If you want to do further reading, I encourage you to click the links in this post.)