Tag Archive | 9.9%

Barry’s Gleanings: “The Birth of the New American Aristocracy”

We know that the income gap is growing in the U.S.  More and more people are having to work two or three jobs just to break even each month.  If you miss one payment on our credit card, your  interest can jump to 23% or more (as young people we know have found out).    Before the previous U.S. government regulations stopped it, Wells Fargo, for instance, was allowed to charge 300% interest!   Now the the current U.S. administration is proposing to let banks return to giving high interest small loans.   We talk about the 1% in the U.S. who have most of the money – and we want them to change, to be compassionate, to be fair.

But what if we (yes, I’m including you – and me – who have time to read this instead of working an extra job) were part of the problem?  What if we are in the 9.9% who keep the other 90% down?  The article, “The Birth of the New American Aristocracy” by Matthew Stewart in the June 2018 issue of The Atlantic, makes me reflect on the unearned benefits in my life.  Awareness is the first step toward change.  Read this article and see what you think – and consider what you can do.

Read:

https://www.theatlantic.com/magazine/archive/2018/06/the-birth-of-a-new-american-aristocracy/559130/

Instead of just blaming the 1%, we could be doing more – much more – to promote justice and equality.

Wealth Gap

FILE – In this Wednesday, Oct. 5, 2011, file photo, Occupy Wall Street protesters join a labor union rally in Foley Square before marching on Zuccotti Park in New York’s Financial District. The richest Americans got richer during the first two years of the economic recovery while average net worth declined for the other 93 percent of U.S. households, says a report released Tuesday, April 23, 2013. The report is the latest to point up financial inequality that has been growing among Americans for decades, a development that helped fuel the Occupy Wall Street protests. (AP Photo/Jason DeCrow, File)Image from: https://www.theatlantic.com/membership/archive/2018/06/the-masthead-discusses-a-new-american-aristocracy/562760/

Aloha, Renée

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