Monday, August 11, 2014

WEALTH INEQUALITY - A simple Solution : Saving the Middle Class

http://www.alternet.org/economy/finally-simple-plan-can-reverse-inequality-and-save-americas-sinking-middle-class?akid=12113.294211.orX4iT&rd=1&src=newsletter1015019&t=19

Even though good-paying jobs are in decline, there’s a lot of wealth in our economy. It produces an enormous amount of wealth. So the economy, as a whole, is okay, but the money isn’t flowing to labor.
So if we want to have a middle-class we have to take somehow from the wealth that we actually do have, and spread it around in ways that aren’t tied to people’s time-clock labor. All right, so what is all that extra wealth out there that doesn’t come from labor? A lot of it, if you really start to dig deeper, below the surface, is wealth that is either stuff that we inherit—like all the gifts of nature; the soil, the water, the air, the minerals, the trees, etc. Also, a lot of our wealth comes from stuff that society created—all of our science, knowledge, techologies, that stuff.
Plus, and here’s the key to it, there’s a lot of social infrastructure—such as the financial systems, or legal systems, our copyrights and patent laws. All of these create enormous amounts of wealth. This is wealth that is not created by individuals, not created by private corporations, but created by society. So what I’m saying is that some of that wealth should be shared equally among everybody. And that would be the basis for supplementing labor income.

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