Why Government Probably Can’t Close the Rich-Poor Gap
17th September 2013
Many argue inequality is an unavoidable byproduct of growth—a function of investors and entrepreneurs benefiting from successful demand for their products and value creation in financial markets. Inequality rose quickly during economic expansions (1980s and 1990s) and declined during the most recent recession. In other words, the wealthy gain more during good times and lose more during bad times.
…
A 2012 survey from GlobeScan found that 58 percent of Americans agreed with the statement that “the rich deserve their wealth.” That’s actually higher than it was in 2008, before the economic crisis, Wall Street bailouts and the Occupy movement.
Damn, there’s that pesky democracy thing getting in the way of the Regressive agenda again.