The Cost of Inequality

Posted December 18, 2013
By Clay Cerny

A report in Common Dreams examines a survey of economists about the impact of inequality in the U.S.  Economists across all political ideologies agree that pushing money to the top earners limits the ability of those in the middle and working class to spend.  The report cites Paul Krugman, who writes:  “On average, Americans remain a lot poorer today than they were before the economic crisis. For the bottom 90 percent of families, this impoverishment reflects both a shrinking economic pie and a declining share of that pie.”

Economists agree that inequality is a problem.  Too many politicians, however, fear the charge of “class warfare” and ignore this problem.  They are also ignoring that wealth has been redistributed for the last three decades.  It has been taken from the many and given to the few.  This issue should concern everyone who works for a living.