The Rich Get Richer: Income Inequality and Political Power

 Today in America, one percent of the population earns 25 percent of all income and controls 40 percent of the nation’s wealth, according to economist Joseph Stiglitz.  In 1970, heads of companies made 39 times the salary of the average workers.  By the year 2000, that number had ballooned to 1039 times average salaries.  The current recession has made the gap even larger. The Occupy Wall Street movement clearly articulated the income inequality issue, introducing the 1 percent/99 percent dichotomy in dramatic fashion.  Whether the OWS perspective fires the public imagination and brings about a reversal of the growing problem has yet to be seen.  But one thing seems certain:  inaction will ensure ever-expanding income inequality and further erosion of the middle class.

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