THE POLITICS AND ECONOMICS OF INEQUALITY: A LECTURE TO THE TOP ONE-TENTH OF 1 PERCENT
Thursday, July 3, 2014
by Robert Reich
THE POLITICS AND ECONOMICS OF INEQUALITY: A LECTURE TO THE TOP ONE-TENTH OF 1 PERCENT
Heres the Aspen Lecture I gave recently at this years Aspen Ideas Festival. The irony of talking about inequality with an audience composed almost entirely of the richest one-tenth of 1 percent of Americans was not lost on me. When I suggested that we return to the 70 percent income-tax rate on top incomes that prevailed before 1981, many looked as if I had punched them in the gut.
But I stressed its not a zero-sum game, and theyd do better with a smaller share of a rapidly-growing economy growing because the vast middle class and the poor had the purchasing power to get the economy back on track than theyre doing with a large share of an economy thats barely growing at all.
Its crucial that Americas most powerful and privileged understand whats happening, and why they must support fundamental reform.
http://robertreich.org/