Inequality Hurts Economic Growth
Over the past 40 years, the American economy funneled wealth and income from pockets of the bottom 99% to bank accounts of the top 1%. This has obviously created a massive concentration of wealth and income among the rich, but it has always put this country in a precarious position. Now this problem is a serious one for the have nots, but it will take the haves to fix it. Income inequality is bad for everyone in society, not just for those who are struggling. Studies indicate that this kind of disparity depresses economic growth, leaves less for people to divvy up, and creates an atmosphere where we see anger, violence, and even has contributed to the rise of hate groups and insurgents.
I have thought for quite some time that we need more creative, courageous and compassionate, forward-thinking change agents who come from the wealthy class. You must lead, and not just by making donations to worthy causes that help poor people. There must be a systemic change for us to solve the problems we're currently having and the ones to come. We must maximize income and wealth for everyone.
All told, the movement toward meaningful checks on income and wealth inequality has to be led by the wealthy class. So, I ask, who from the billionaire class will help to galvanize this effort to fix what's wrong with our economy?