How much is enough? Who decides what can be “owned” versus what belongs to humanity as a collective? In the US, we have seen our federal minimum wage increase 3 times over a 25 year time span, during which time Congress was able to raise their own salary 13 times. While our income level at the bottom percentile of our workers has risen 4% since 2008, we have witnessed the salaries of top CEO and hedge fund managers grow by over 400%. What happens when these polar opposites continue at their current rate? How long before we reach a tipping point that is not survivable by the majority of those at the bottom?
I am not on expert on the economy, nor am I versed in banking and financing philosophies. But I am a member of the 99%, meaning we have a very large group in our boat. The problems in America regarding income inequality are somewhat benign in comparison to what many countries face. The following articles discuss some of the issues we need to consider in a much more educated, researched and validated study than I could ever do on my own.
Of the 1%, by the 1%, for the 1%
Americans Are Terrible at Estimating Income Inequality
Editorial: So damned unfair: Income inequality threatens the American dream
Obviously, this discussion has barely began. What can you contribute that helps us comprehend the magnitude of this issue from your perspective?