Wednesday, July 30, 2014

Income Inequality. Either The Rich Agree To Do Something, Or Hell Breaks Loose

"Plutocracy Triumphant"
A Compendium of Cartoons


"Politics and Economics: The 101 Courses You Wish You Had"


Should the rich call for income redistribution? "Those who argue rising inequality isn’t actually a problem, a claim often made by those at the top of the income and wealth distributions who are fearful that any attempt to correct the disparities will mean they pay more in taxes, are taking a large risk. If inequality continues to rise, as it almost surely will if we do nothing about it, more and more people will come to believe the system is unfair and eventually we will hit a dangerous tipping point for society. Once that happens, those at the top will be lucky if the social changes are limited to income and wealth redistribution." Mark Thoma in The Fiscal Times.

Alan: Without big changes soon, there will be a radical "New Deal" later.

"George Soros On The Coming Class War"

PORTER: Income inequality and the ills behind it. "Suddenly inequality seems to be not only at the top of the liberal agenda, but in the thoughts of concerned American voters. Yet amid the denunciations of inequity as the major evil of our era, persistent voices — mostly but not exclusively from the political right — have been nibbling away at the concern over distribution that is taking over the zeitgeist....Aside from these extreme views, the critique does add up to a coherent argument: The income gap cleaving society between the rich and the rest may, in fact, be a red herring. It is not only that the accumulation of income at the apex of the pyramid of success is not the nation’s main problem. There is little we can do to redress it anyway." Eduardo Porter in The New York Times.

No comments:

Post a Comment