Inequality will get worse unless we make dramatic changes
By Bob Lord
Imagine, after a deep sleep, you suffered the fate of Rip Van Winkle and woke in the spring of 2040. What might you find?
Among other things, maybe a presidential candidate railing against Americas concentration of wealth. Except this time, its not the 1 percent that owns as much wealth as the bottom 90 percent its the top hundredth of a percent.
Could it get that bad? Yes, quite easily. In fact, that nightmare is already on the way.
To see this better, take a step back in time. If you woke up 24 years ago, you could hear candidate Bill Clinton lamenting the fact that the top 1 percent owned as much wealth as the bottom 90 percent.
Today, as anyone whos heard Bernie Sanders give his stump speech knows, its the top tenth of 1 percent who owns that much. Thats 10 times more concentrated and its happened over just six presidential cycles. If the trend continues, the scenario I presented at the outset will be a reality.
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