Sunday, November 14, 2010

Who Will Stand Up to the Superrich? - NYTimes.com

Who Will Stand Up to the Superrich? - NYTimes.com: "That’s a good question, all right, but it’s not the question. The bigger issue is whether the country can afford the systemic damage being done by the ever-growing income inequality between the wealthiest Americans and everyone else, whether poor, middle class or even rich. That burden is inflicted not just on the debt but on the very idea of America — our Horatio Alger faith in social mobility over plutocracy, our belief that our brand of can-do capitalism brings about innovation and growth, and our fundamental sense of fairness. Incredibly, the top 1 percent of Americans now have tax rates a third lower than the same top percentile had in 1970."

It's the big story for all those now starting out their working lives in America - it means you must pick a new goal, because the middle-class can not exist in the new environment.

No comments: