Monday, April 11, 2011

USA Income Inequality: No Longer, "Of the People, By the People, For the People" But Rather "Of the 1%, by the 1%, for the 1%"

At Vanity Fair, Joseph E. Stiglitz writes about massive and increasing income inequality in America at Of the 1%, by the 1%, for the 1%, an ever-increasing income inequality that essentially has nothing at all to do with the existence of an alleged "democracy" in America, an alleged democracy which is a fata morgana. A mirage.

Income inequality will ultimately destroy America if it is not corrected soon, but what is the solution?

We have posted about this serious problem in the USA numerous times before at LawPundit:

Income Inequality is the Cancer of the American Economy : WSJ Errs in Trying to Exculpate Bush Tax Cuts as a Major Cause of Federal Deficits

The Causes of the Recession and Government Deficits : A Reply to a LawPundit Posting and Our Rebuttal

Wealth in America : Who Has the Money? : Wealth Income and Power in U.S. Society : Owners and Top-Level Managers Dominate : The Average American Loses

Income Equality Best in Europe : USA Lags Behind : Robert Paterson's Weblog: EconomPic: Income - Destruction of the Middle Class

Hat tip to CaryGEE.

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