A New Approach to the Sharp Divide Between Rich and Poor

Most of us agree that a society which has a dramatic fault line between the rich and the poor is not a good one.  How can we attack the problem with useful policies?  Stop discussing the middle class.  In simplest terms, the issues impacting the growing chasm are 1) Disproportionately high income in the top one percent and 2) Failure to prepare the poor for jobs in the new information economy.

Beating up on either the rich or the poor is not productive.  Ask why the rich are so rich today?  And why are the poor so poor?  Then address those issues. Take the dialogue out of a left-right debate.  Try instead to solve a problem. Below are proposals worth considering.

Our correspondent Lloyd McAulay a New York political activist and attorney, suggests the following:  Use taxes, not by hiking them on the rich, but by eliminating some favorable treatment.  Rethink luxury taxes.  Limit salaries in publicly -traded companies.  Limit power of the highly-skilled unions and government employees.

Train and educate people for jobs in the information economy.  Training must not be a cover for doing nothing.  Tie rewards from the system to work.  (Earned income credits).    Further ideas.   New Policies for the Income Divide

The Income Divide

 

 

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