Inequality and The American Dream (Updated)


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For most Americans living in poverty,
the American Dream has become a grotesque joke, even if most
Americans don’t know how bad it is.
But this inequality is being successfully addressed in Salt Lake City, Utah.
Their upward mobility proves that “the Dream” need
not be over. Those in power, particularly President Trump,
should use Salt Lake City as a prototype
of how to make America better.

November 14, 2017
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Inequality
and the American Dream (Updated)

Bloomberg and The Atlantic and owner Paul Evans
examine an issue that tears American society apart

The Daily Walk with Love, November 14, 2017, by Paul Evans, revised and updated, (email paul.miracles57@gmail.com). News sources are How Utah Keeps the American Dream Alive, Bloomberg View, March 28, 2017, by Megan McArdle; and Severe Inequality Is Incompatible With the American Dream, The Atlantic, Business, December 10, 2016, by Alana Semuels. Featured photo is courtesy of Georgetown Progressive. Included video is Park Avenue money, power and the American dream: Why Poverty, Earthbound and YouTube – 59:03. If you care about America’s future, please share this article!

The CIA, Trump & Co. will not be pleased with me republishing this article, but actually, neither will the Russians. So be it, this is an important article. Between 1950 and 1970, the tax rate for the uppermost income bracket was 93 percent, while the economy grew steadily each year at four percent a year. What has brought America into the position of economic jeopardy she finds herself in is the unmitigated greed of the super-rich, and THIS is actually the weapon the Communists have used against us to set us up to be in a position where we are at risk of a terrible stock market crash and devaluation of the dollar. In other words the Communists, conspiracy or no, have used our own greed as a weapon against our future greatness and prosperity. “Trickle down” and “hypercapitalism” only serve to hurt the common man and put us much deeper in debt. Severe inequality is the greatest single weapon our enemies have against America, and this must be realized in the highest circles.

See Why Big Deficits, Inequality, “Trickle Down,” Greed & Hypercapitalism are Leading Us Into Economic Collapse, The Daily Walk with Love, November 12, 2017: I feel that it is absolutely vital that Donald Trump, our leaders in Congress and in the intelligence services become familiar with the ideas in this article.

See Time for a Revolution in Politics?, The Daily Walk with Love, September 6, 2017, by Paul Evans: Our fractured, failed efforts at healthcare reform show and at immigration reform and tax reform show that it’s time for a major change. In the late first half of the 19th century, the Whigs were at the center of power in American politics. They ceased being relevant so they ceased having power (and ultimately faded into a distant memory). Maybe it’s time for a strong, moral Third Party such as perhaps the Reform Party to be organised and supported. Maybe it’s time we explored more socialistic ideas such as those of Bernie Sanders. Neither the Democrats nor the Republicans as now constituted represent the hopes and dreams of ordinary Americas and the common man, and God know we’re suffering too much as it is. We should stop being so scared of that heretofore taboo word “socialism.” If nothing else, for god’s sake nationalize the banks! If not now, when?

See (my own hope and dream of) A New Alliance Between the Political Left and True Conservatives, The Daily Walk with Miracles, March 25, 2017, by Paul Evans.

As compassionate, Christian Americans, we HAVE TO care about economic inequality. To see 75 percent of Americans living paycheck to paycheck and, for example, 320,000 homeless veterans is NOT an America that we would want to live in, but also, economically it is dragging the whole nation down, and ultimately it will cost the rich dearly. (The real Misery Index forecasts a future depression as bad as or worse than the Great Depression; the only way to avoid this is to lower the Misery Index, that is to say, reduce economic inequality.) How bad is it? See Economic Inequality: It’s Far Worse Than You Think: “The great divide between our beliefs, our ideals, and reality,” Scientific American, March 31, 2015, by Nicholas Fitz:

…The top 20% of US households own more than 84% of the wealth, and the bottom 40% combine for a paltry 0.3%. The Walton family, for example, has more wealth than 42% of American families combined.

…they asked people how much CEOs and workers should earn. The median American estimated that the CEO-to-worker pay-ratio was 30-to-1, and that ideally, it’d be 7-to-1. The reality? 354-to-1 (as of April, 2015). Fifty years ago, it was 20-to-1.

See Here’s the Secret Truth About Economic Inequality in America, TIME Business * Economy, May 12, 2015, by Rana Foroohar. Speaking about Nobel Economic Laureate Joseph Stiglitz’ report for the Roosevelt Institute, Rewriting the Rules, Foroohar said:

There are a number of provocative insights but the key takeaway–inequality isn’t inevitable, and it’s not just a social issue, but also an economic one, because it’s largely responsible for the fact that every economic “recovery” since the 1990s has been slower and longer than the one before. Inequality isn’t the trade-off for economic growth; rather, it’s both the cause and the symptom of slower growth…..

Stiglitz made the point that both Republican and Democratic administrations have been at fault in crafting not only policies that forward inequality, but also a narrative that tells us that we can’t do anything about it. “Inequality isn’t inevitable,” said Stiglitz. “It’s about the choices we make with the rules we create to structure our economy.”

Bloomberg (from an email newsletter):

“There’s no getting around it: For a girl raised on the Upper West Side of Manhattan, Salt Lake City is a very weird place.

“I went to Utah precisely because it’s weird. More specifically, because economic data suggest that modest Salt Lake City, population 192,672, does something that the rest of us seem to be struggling with: It helps people move upward from poverty. I went to Utah in search of the American Dream.

“Columnists don’t talk as much as they used to about the American Dream. They’re more likely to talk about things like income mobility, income inequality, the Gini coefficient — sanitary, clinical terms. These are easier to quantify than a dream, but also less satisfying. We want money, yes, but we hunger even more deeply for something else: for possibility. It matters to Americans that someone born poor can retire rich. That possibility increasingly seems slimmer and slimmer in most of the nation, but in Utah, it’s still achievable. …”

Watch Billy Joel: Allentown, YouTube – 3:45.

Also read Severe Inequality Is Incompatible With the American Dream, The Atlantic, Business, December 10, 2016, by Alana Semuels: “In the 1980s, the top 1 percent of adults earned 27 times more than the bottom 50 percent. Now, they earn 81 times more.” This data is from The Atlantic, a mainstream, respected magazine. Why this disparity of income? Why isn’t America more equal than this, in terms of income? It’s a POLITICAL problem with political solutions. You super-rich could fix it if you wanted to. This is too much inequality. Sure, there’s going to be some inequality, Jesus himself said there would be poor always. But America has gone from leading the world in upward mobility to being “in the middle of the pack,” about 20th among developed nations. What went wrong? GREED went wrong, greed caused the crisis of 2007-2008, and only the political will of all Americans directed at Congress can fix this. If you don’t make some concessions to the poor you will trigger another Great Depression, that much IS obvious to me. Beyond a house, a car, a wife/husband and a decent job, with a few real friends, just what do you rich folks think is going to “save you” and make your life better?

More and more money will NOT make you happier. Look within yourselves, and turn to the Word of God and faith, that will make your life right, not these window dressings, not a new car. I tell you, it will not help you be happy, only God can do that. Being kind makes you kind, but kindness to the poor will please God and make you feel happier. Kindness can do that, plus it will save the economy from collapse. God loves the poor and hates injustice, it’s shot through the Bible, what exactly about that is so hard to understand?

Paul Evans: So, apparently the first author wants you to believe that the American Dream Lives: In other words, in Utah, there is hope. Without hope the people can have no faith in their leaders, nor the confidence to make enough purchases to fuel the economy. But in “fairly prosperous” Wooster, most of the “have nots” I know have mostly lost hope. In the U.S. right now, while we read that the super-rich have invested $552.9 Trillion in derivatives and OTC swaps, somewhere in the neighborhood of 50 to 75 percent of Americans live paycheck to paycheck. For us, the possibility of actual homelessness is lurking in that one unexpected large expense where we cannot, for example, repair the car which takes us to our minimum wage job, and protects us and our families. In my home state of Ohio, fully one quarter of our children are at the risk of real hunger each and every month. This IS too much inequality, and it invokes economic karma.

If Donald Trump can’t fix this and give us more and better and better-paying jobs, soon it WILL be “all up” and the global economy will collapse. See Stockman, Soros, Paul, Others: A 40-50 Percent Market Crash is Inevitable, The Daily Walk with Love, October 3, 2017, by Paul Evans. I really wish someone would call that article to President Trump’s attention. The fact is, the real misery index (not the fake government one) makes the probable future clear. And if the economy does collapse, it would be TWICE as bad as the great depression, so say the experts. But IF we fix inequality, perhaps using something along the lines of the Salt Lake City model, then the misery index goes down and America’s economic future looks much better, right?

How can “the masses” buy televisions or computers or newer cars if we live paycheck to paycheck? In this way it should be understood that the American economy CANNOT really grow much unless economic inequality is addressed in a fundamental way. You cannot really base an economy on the purchases of the top ten percent. And also, the super-rich and the investment banks have raided the people’s savings accounts too. There remains (I have read) only 1/4 to 1/2 cent left in our savings accounts backing every dollar in circulation. This is known as “unleveraged debt,” and it is VERY unsafe for an economy and a society. We MUST do better.

Utah and Salt Lake City, apparently, are capitalism working the way it should work. President Trump should take notice and copy the models and methods employed there. The example of Utah, specifically Salt Lake City, does give me some reason for hope. But not a lot. I think like the creeping NWO they are basically planning on the utter demolition of the middle class and the destruction of the underclass. That’s exactly what the new push on robots is about.

See Why Big Deficits, Inequality, “Trickle Down,” Greed & Hypercapitalism are Leading Us Into Economic Collapse, The Daily Walk with Love, October 29, 2017, by Paul Evans.

Park Avenue
and the American Dream
Why Poverty

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