Monday, May 12, 2014

Not Enough, But A Good Start

Nothing short of confiscatory taxes on the rich will halt and reverse income inequality, but if you're not ready to back a real solution, Robert Reich has some acceptable half-measures for you.

Robert Reich at the Nation:

Some inequality of income and wealth is inevitable, if not necessary. If an economy is to function well, people need incentives to work hard and innovate. The pertinent question is not whether income and wealth inequality is good or bad. It is at what point do these inequalities become so great as to pose a serious threat to our economy, our ideal of equal opportunity and our democracy.

We are near or have already reached that tipping point. It is incumbent on us to dedicate ourselves to reversing this diabolical trend. It will not happen automatically, because the dysfunctions of our economy and politics are not self-correcting when it comes to inequality. In order to reform the system, we need a political movement for shared prosperity. Herewith, a short summary of what has happened, why it has happened, how it threatens the foundations of our society, and what we must do to reverse it.

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