Conserving the Have-Nothings*
Today's U.S. economic inequality threatens American's very freedom. More alarming our future economic growth is being undermined. It is not just that a CEO may make 300 times more than what his workers make-there is a fundamental misbalance of haves with the have-nothings. Edward Wolff at the New York University cites the following; the richest 1 percent Americans have 35 precent of the U.S. net worth. The next 4 percent of our population have 28 percent of the wealth while the next 5 percent of us have 14 percent net worth. The next 12 percent of Americans have the next 10 percent net worth and after that the next 9 percent have the next 20 percent of the wealth. Finally, the last 3 percent of the U.S. citizens have the net worth of 20 percent of our population. The bottom 40 percent of U.S. citizens have nothing or even a negative net worth. They owe more money than they own. Recently the Organization for Economic Cooperation and Developm...