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WAGE INEQUALITY AND THE SUPERRICH

May 4, 2019
WAGE INEQUALITY AND THE SUPERRICH
If I may brag a bit, I have been harping on wage inequality for many years, warning the rich who are hogging a hugely disproportionate share of the wealth and income of our economy for their own that their day is coming, and writing recently that the superrich are directly responsible for the rise of a socialistic impulse among the young today (as can be seen with the rise of AOC).
Milken, the rich ex-con, has brought notice of that gathering storm to his mini-Davos meeting in Beverly Hills, and the assorted zillionaires  who attended talked about the problem but did not develop a consensus in what to do about it. That is unfortunate, but I suppose they want to make every last dime they can while they can and leave the solution to their successors (if their successors have that option).
Unlike me, the superrich don’t seem to see a reactionary socialist state in the immediate offing and want to keep our current Second Gilded Age on track for as long as possible, and in this connection I often mount my white horse and write that I am trying to save capitalism, if the capitalists will let me. It appears they won’t.
I also often write that wage inequality (other than Trump) is our biggest domestic issue, and I hereby reiterate that proposition. The rich and corporate class would be well advised to back off their oblivious and greedy pursuit of assets in favor of a more equitable sharing of the wealth and income with other stakeholders in our economy who helped produce such trove lest under a new regime they find their asset-gathering is strictly controlled and/or ended – and the clock is ticking.    GERALD         E
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