A Quote by Bernie Sanders
This is what income inequality means in America, and why the gap between the very rich and everyone else is growing wider. According to a recent study, CEO pay is now 295 times more than the pay of a typical worker. In 1965, the differential was 20 times. We must create an economy that works for all, not just the top 1%.
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Eye-popping tales of growing income inequality are hardly new. By now, nearly every American must be painfully aware of the widening pay gap between top executives and shop floor laborers; between 'Master of the Universe' financiers and pretty much everyone else.
This kind of inequality - a level that we haven’t seen since the Great Depression - hurts us all. When middle-class families can no longer afford to buy the goods and services that businesses are selling...it drags down the entire economy from top to bottom. America was built on the idea of broad-based prosperity... That’s why a CEO like Henry Ford made it his mission to pay his workers enough so that they could buy the cars he made. It’s also why a recent study showed that countries with less inequality tend to have stronger and steadier economic growth over the long run.
Contrast 1968, when the CEO of General Motors took home, in pay and benefits, about sixty-six times the amount paid to a typical GM worker. Today the CEO of Wal-Mart earns nine hundred times the wages of his average employee. Indeed, the wealth of the Wal-Mart founder's family in 2005 was estimated at about the same ($90 billion) as that of the bottom 40% of the US population: 120 million people.
I'm paid about 20 times more than the average Ryanair employee and I think the gap should be wider. I probably work 50 times harder. I think I'm the most underpaid and underappreciated airline boss in Europe.
Here's what income and wealth inequality is about. Last year, the top 25 hedge fund managers made more than 24 billion, enough to pay the salaries of 425,000 public school teachers. This level of inequality is neither moral or sustainable
I think that the main issue with inequality is not the gap between the rich and the poor. It is the gap between the earnings of top business leaders and the salaries of academics and journalists.
When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.
Any nation that expects to be ignorant and free," Jefferson said, "expects what never was and never will be." And if the gap between the educated and the uneducated in America continues to grow as it is in our time, as fast as or faster than the gap between the rich and the poor, the gap between the educated and the uneducated is going to be of greater consequence and the more serious threat to our way of life. We must not, by any means, misunderstand that.
Pay attention to the gap - the gap between two thoughts, the brief, silent space between words in a conversation, between the notes of a piano or flute, or the gap between the in-breath and the out-breath. When you pay attention to those gaps, awareness of 'something' becomes - just awareness. The formless dimension of pure conciousness arises from within you and replaces identification with form.
Everything in America is so stratified by class now. We have the 93rd level of income inequality in the world. You're already seeing highway lanes that are for pay and ones that aren't.
When the topic is growing income inequality, it's hard to prettify an imbalance between the rich and everybody else, so instead, conservatives try to argue that it doesn't exist.
If I'm owed money, but I say, 'Don't pay me, pay my cousin. Don't pay me, pay my charity,' you can do that, but then the IRS requires that you pay income tax on that. It's your income if you earned it and you directed where it went. If you exercised control over where the money went, you have to pay income tax on that.
The difference between rich and poor is becoming more extreme, and as income inequality widens the wealth gap in major nations, education, health and social mobility are all threatened.
There is, happily, a non-redistributive approach to address income inequality - one that doesn't rely upon government. It's to grow the pie. That is, create more decent jobs that pay more.
Rich people don't pay taxes? Of course they pay taxes - they pay tons in taxes. They pay for everyone else who doesn't pay taxes.
If you are a woman, you might feel torn between logical agreement and emotional resistance. Why? It seems like a simpler solution to blame men for the pay gap than to engineer your own bridge to higher pay.
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