Originally Posted by patteeu
Why is inequality bad?
Because it limits economic freedom, upward mobility, keeps people confined to the class they were born in, destroys the notion of being better off than your parents (average american income has gone down). You know, generally ruins the American Dream.
A capitalistic economy requires the movement of wealth through the system. A capitalistic economy requires the movement goods. If wealth is concentrated and monopolized at the very top, then that money is doing nothing for the overall economy. Its not moving through the system. It turns it from capitalism to a sorta Corporate Feudalism.
I have two questions for you:
1) Why would high levels of wealthy inequality be good?
2) If the top percent have increased their share of the economic pie, why haven't we seen any sort of trickle down?