January 5, 2018  |  by: Catherine Krantz  |  filed under: Issues  |  topics: , ,  

Let’s Talk About WEALTH INEQUALITY

 Today is January 4, 2018.  Today is Fat Cat day in the UK.  It’s the fourth day of the year and the UK’s wealthiest Top Executives will have already earned more in four days than the average citizen will make all year, with executives earning 147 times as much as employees.  In the US it is even worse. Glassdoor, an online job and salary reporting site, found that US chief executives were paid 204 times their employees’ median compensation.  An Associated Press study in 2015 found S&P 500 CEO median pay was $10.8 million dollars a year. The U.S. Census Bureau stated the median household income in the US in 2017 was $59,039.  That means top executives in America make almost as much per day as most Americans will make in an entire year. This is wealth inequality and it’s not good for anyone – at least not for very long.  History has proven unequal societies are unstable societies.

The widening gap between the rich and the poor has a negative impact on us all.  It’s not just about more of us being poor, it’s about the cost of this poverty to society.  The cost in less people paying less taxes to maintain our systems.  The cost of people having less money to contribute to our economy, less money to spend, less money to save.  And it’s about wasted potential, American potential.  Less innovation, less advancement for our country.  Studies prove that poverty begets poverty, so the situation will only get worse if we don’t adjust course now. We need to focus on ways to raise people out of poverty and make it a priority.  We need to invest in improved education that leads to better job opportunities, we need to invest in direct job creation and economic development in low income areas to keep Americans from falling through the cracks and we need to guarantee affordable health care so working families don’t have to worry about an emergency or illness bankrupting their family. A healthy prosperous society benefits all of us.

Catherine Krantz for Congress | 314A West Lennon Drive #119 | Emory, TX 75440 | Tel. 903-221-8181 | all rights reserved, © 0-2018.

Let’s Talk About WEALTH INEQUALITY

by Catherine Krantz