Wealthy Disparity in the US and its Future Consequences
A day doesn’t go by without reading some report on how the income distribution in the US is approaching calamitous levels. For some, we have already reached. For some, the level is in a distant future. I guess it all depends on whom you ask.
For those who feel we have already passed the tipping point they point out that in the US millions there are without health care, millions have left the workforce in their prime years and have no desire to look for work. Also, out of the workforce are the millions in jail. The US has 6% of the world’s population yet we have 25% of the world’s incarcerated.
As it relates to income, close to 50% of workers don’t pay income tax. Also, many of the working poor receive government aid.
Currently, many in the middle-class and the rich see the issue of wealth disparity as an academic conversation. There is no immediate consequence. Their attitude is the poor needs to work harder. The politicians like Bernie Saunders who advocate a more normal distribution of wealth are accused of being communist and wealth distribution nutters.
However, if we extrapolate the numbers it isn’t hard to see that in 20-30 years there will be more poor people than the rich and middle class. It will only take a charismatic leader like Venezuela former Hugo Chavez to be elected to office.
Another example is in South Africa where the Congress just voted to confiscate the land holdings of white South Africans without compensation. This action sets South Africa on the path of Zimbabwe were land was confiscated. Zimbabwe was once the bread baskett of Africa. Today, it is unable to feed itself.
While it is easy to blame to poor for being poor it would be much wiser to find a different approach to address the wealth disparity if we don’t want history to repeat itself in the US. To address this poverty issue billionaires like Sir Richard Brandon advocate a living wage regardless employment. This money even though it isn’t earned it will serve the same purpose as it is spent and circulated within the economy.
I don’t know what the right solutions are, but the trajectory of the path we are on does not support a promising future. Please post your thoughts on the issue.
If you liked the reflection, please follow, resteem and upvote. Thanks
Whether one agrees or disagrees with the thoughts and ideas expressed, he hopes they provide a broader foundation for discussion. Dr. Beekie received his bachelor's degree in Business Administration and Organizational Communication from Concordia College, Moorhead, MN, master's degree in Intercultural Communication from North Dakota State University, Fargo, ND, and doctorate in Organization Development from the University of St. Thomas, Minneapolis, MN.
https://www.linkedin.com/in/rajbeekie