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Monday, January 27, 2014

Yipes! NPR reports on Oxfam finding that the rich/poor divide is growing so fast there could be unrest (deservedly so, I'd say).


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From the article:
In the U.S., where the gap between rich and poor has grown at a faster rate than any other developed country, the top 1 percent captured 95 percent of post-recession growth (since 2009), while 90 percent of Americans became poorer.

"Oxfam is concerned that, left unchecked, the effects are potentially immutable, and will lead to 'opportunity capture' — in which the lowest tax rates, the best education, and the best healthcare are claimed by the children of the rich," the relief agency writes. "This creates dynamic and mutually reinforcing cycles of advantage that are transmitted across generations."

In other words, Oxfam says that if trends continue, the rich will get richer and the poor will get poorer.

"[People] are increasingly separated by economic and political power, inevitably heightening social tensions and increasing the risk of societal breakdown," the report says.


That's right, Oxfam is worried about societal breakdown. What the hell is wrong with big money people? Why do they seem to see no need to temper their greed? Or is it that being a non-rich person I just son't understand what it's like to have more money than I could possibly spend in my lifetime?

Yeah, I'm sure it would all make sense if I had more money than I could spend in my lifetime. Can someone hook me up so I can better understand this?

Thanks.

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