November 25, 2020
Income and Wealth Inequality Worsen
The stock market hit a new high yesterday –– the rich get richer, and the super rich get even super richer–– while a large segment of the population is impoverished and tens of millions lack adequate food and shelter. As income and wealth inequality worsen, Republicans emulate whoever it was in the French royal family, who when told that most people couldn’t afford bread, said “Let them eat cake.” This country needs a much more progressive tax and subsidy structure. Otherwise, though it may retain the trappings of democracy, its essential character will increasingly be that of a plutocracy.