Economic disparity to the extent we are beginning to see is unfair.
I don’t know what “fair” means and neither do you. It;s a subjective term, used by politicians to fuel emotions.
What we KNOW is that income and wealth inequality US started to rise in the late 1960’s, and has continued to increase on the same slope since. When you consider that that disparity has increased continually without regard to (a) tax rates, (b) the political ideology of the President, (c ) the political ideology of the Congress, (d) the party of the President, (e) the party of the Congress, and (f) through several iterations of regulation and deregulation in the economy, it becomes pretty clear that the politics of this matter are irrelevant; that there is something systemic in the economy of this period of time that is causing wealth to aggregate.
So, what that tells you is that tax cuts, and tax increases, are irrelevant; you can dislike Trump’s all you like, but they’re not going to change the slope of that line. In fact, counterintuitively…… see that sudden spike in the rate of increase after the early 90’s recession? That happened when Mr. CLinton RAISED taxes; which, along with the entire line, pretty much kiboshes the idea that inequality gets worse when GOP presidents lower rates.
You are correct that it’s unwell and not dead, but that means we the people have to act now to wrest back our money. Restrengthen labor unions. Rescind tax cuts for the wealthy. An amendment capping political donations and forbidding corporate political donations. And….
Whatever. I’ll be interested to see how you “wrest back your money” from Amazon, which has been the most egregious aggregator of wealth, and thus contributing substantially to said inequality, in my lifetime. Labor unions, tax cuts…..won’t matter. That slope started upwards while labor unions were still strong, and when tax rates were much higher than today.
Although people like to think there’s a political solution here, there isn’t, because the problem wasn’t caused by politics; the problem was caused by automation. Just to pick on Amazon again, Jeff Bezos didn’t create anything or invent anything; all he did was pick out existing businesses, starting with books, put them up on his e-commerce platform, and allowed people to buy exactly what they were buying today from tens of thousands of small retailers (or big ones, like Wal Mart) from him. Obviously, the money that was being earned by all those small retailers ended up being funneled into his bank account.
So, maybe you’re more creative than I, but the only way *I* can think of to reverse this trend is to go full-on Luddite. Scrape those tags off your windshields and re-employ ticket takers at toll booths. Ban e-commerce. Can you imagine anyone doing such a thing?
When it comes to income inequality, the enemy is us. It’s our desire to save a buck, and to punch a button for home delivery rather than getting into a car, which is today’s primary driver of inequality. Previously, it was corporate automation that was the culprit; buy a computer, send a bunch of your employees packing. The money flows up to the top.
It’s not political.