The wealth gap between the rich and the poor in the United states has been widening for far too long and has finally reached a 100-year high. “By some estimates, income and wealth inequality are near their highest levels in the past hundred years,” said Federal Reserve chief Janet Yellen. “I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history, among them the high value Americans have traditionally placed on equality of opportunity.” As the rich get richer and the poor get poorer, our economy is sinking and it is sinking fast.
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Many thought President Obama would be the hope and change our country needed to see the middle class restored. Instead of following his campaign promises to renegotiate NAFTA, he has pushed for even more “free trade” agreements including KORUS, TPP and TTIP. Each of these trade agreements have caused our country to sink further into massive trade deficits, and have stripped well-paying manufacturing jobs from our shores.
America was once a prosperous country that was looked upon with envy by foreign nations. In the 1950s our economy was strong and the future looked promising. Our infrastructure was expanding and industrial production was booming. Clearly, we were on the right path. In the past, we produced over 90% of the goods we consumed. Our survival depended solely on the strength of our citizens–the way it should be.
If an enemy was seeking to hire someone to destroy America he might have hired the political leaders who created the foreign, undemocratic World Trade Organization (WTO), job killing North American “Free Trade” Agreement (NAFTA), the disastrous Korean-U.S. “Free Trade” Agreement (KORUS FTA) and the pending unholy trinity of trade agreements – the TPP, TTIP and TISA.
The rich in America continue getting richer and the poor continue getting poorer. A study done at the Harvard Business School showed that the widening gap between the wealthiest and the lower classes is unlikely to improve any time soon. In fact, 47 percent of the respondents to the study said that over the next three years, they expect U.S. companies to be less competitive and less able to pay higher wages and benefits. “Thriving citizens become more productive employees, more willing consumers, and stronger supporters of pro-business policies,” the study said. “Struggling citizens are disgruntled at work, frugal at the cash register, and anti-business at the ballot box.”