Tuesday, April 14, 2015

The Poor Work While the Rich Steal Their Wages

If it were ever true that the American economy depended on the rich for capital to keep running, it hasn't been true for a long time.

Robert Reich:

In reality, a large and growing share of the nation’s poor work full time — sometimes sixty or more hours a week – yet still don’t earn enough to lift themselves and their families out of poverty. 
It’s also commonly believed, especially among Republicans, that the rich deserve their wealth because they work harder than others. 
In reality, a large and growing portion of the super-rich have never broken a sweat. Their wealth has been handed to them. 
The rise of these two groups — the working poor and non-working rich – is relatively new. Both are challenging the core American assumptions that people are paid what they’re worth, and work is justly rewarded.
That widening inequality — combined with the increasing numbers of people who work full time but are still impoverished and of others who have never worked and are fabulously wealthy — is undermining the moral foundations of American capitalism.

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