Wednesday, December 26, 2012

Growing Income Inequality within the US

A NationalJournal article, Inequality and its perils, points to the dramatic chasm between the wealthy in the US and the lower and middle classes.  This trend is made evident in a report by the Congressional Budget Office, which reported between 1979 and 2007 the top one percent of households more than tripled their portion of pretax income while the bottom 80 percent realized only a slight increase.

To see how the United States ranks with other nations around the world as regards our income disparity you can view a map in TheAtlantic, Map: U.S. ranks near bottom on income inequality.

The recent discussion in Washington DC about the possibility of needing to raise taxes on the wealthy has given rise to a claim of "class warfare" by some financial conservatives.  Unbelievably, the last time any Republican in the US Congress or Senate voted to raise taxes was 1990. I fear that our nation will become destabilized should there continue to be a growing income gap between those who are able to live quite comfortably and those without. There could in fact be "class warfare", and with such a well armed citizenry it could be quite bloody. Here's to hoping we will work toward greater equity for people living and working in the United States. Creating jobs that pay a livable wage and with quality benefits would go a long way in helping those currently living in poverty.

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