RSN Fundraising Banner
FB Share
Email This Page
add comment
Print

Reich writes: "Chuck Collins from the Institute for Policy Studies has new data showing the majority of Americans now have less than $1,000 in their savings and checking accounts combined."

Robert Reich. (photo: unknown)
Robert Reich. (photo: unknown)


The Jaw-Dropping Realities of Our Widening Economic Divide

By Robert Reich, Robert Reich's Facebook Page

03 May 16

 

huck Collins from the Institute for Policy Studies has new data showing the majority of Americans now have less than $1,000 in their savings and checking accounts combined. If they slip on the sidewalk or have a problem with their car, they can be left penniless.

On the other side of the widening economic divide is an equally jaw-dropping reality: The 400 wealthiest Americans now own more wealth than the entire GDP of India, a nation of nearly 1.3 billion people.

The problem isn’t inequality per se. It’s the consequences of the degree of inequality: a shrinking middle class that’s increasingly frustrated and angry, a politics that as a result has become polarized and shrill, fewer opportunities for the poor to ascend into the middle class, and a democracy that’s overrun with money from the wealthy. The trend is unsustainable, politically and economically.

Bernie’s campaign is a start. But regardless of whether he’s elected president, we must be mobilized and organized to reverse this.

What do you think?

e-max.it: your social media marketing partner
Email This Page

 

THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.

RSNRSN