Throughout this decade, rising income inequality has become a profound image of the new American economy. Our economy is built on service, financials, health care and government spending. But, underlying the American economy of the 21st century is a wide income gap, growing wider each year. The gap is even larger today than the gap preceding the Great Depression.
This gap is problematic for several reasons. First, any functioning democracy and capital system cannot have too much concentration of wealth. It skews true supply and demand. The fewer the economic elites, the fewer people determining the economic outcomes for the many.