It’s Called Class Warfare

March 13, 2014

Everyone knows America has a hyper inequality problem. The six Walton family heirs who own Walmart have the same wealth as the bottom 42% of Americans.  In the latest data through 2011, researchers Emmanuel Saez and Thomas Piketty show the top 1% of income earners in the U.S. get 20% of all the income.  Both the Organization for Economic Cooperation and Development (OECD—the organization of the advanced industrialized democratic countries) and the International Monetary Fund (IMF) recognize that high levels of inequality hurt economic growth.  The question is: What do we do about the inequality?

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