Ex-lawyer turned relationship coach

How A Democracy Can Serve The Few

In 2013, Obama gave a 45-minutes speech on income inequality. Adding that’s where his administration would focus all their efforts. Yet shortly after, Obama dropped his promise like it was a hot potato.

Why?

Because all major Republican networks were quick to call his fight against income inequality an attempt at class warfare. Completely derailing his campaign.

Throughout American history, all presidents who’ve tried to tackle issues of inequality have come under attack by the Republicans. Feeling that it’s best to let the marketplace decide where the wealth goes.

Want to know what the market decided to do with all the money in 2020? It gave the top 1% about 20% of America’s total income. Which is similar to cutting a pizza into eight parts and giving two slices to a microbe.

Besides being almost more ridiculous than the name of Elon Musk’s baby, income inequality actually hurts overall growth.

And it’s not just an American problem. The globalization-technology combo is increasing the wage gap across the developed world. But it’s rising much faster in the land of the free.

The top 1% of America now has 15 times more wealth than the bottom 50% combined. How’s that for running up the score against the poor. If this was a little league game, a ref would have already ended the game for poor sportsmanship.

Meanwhile many American politicians are focused on creating policies that make the gap even larger. In 2019, billionaires actually paid less in taxes than the working class.

Which is absolutely cuckoo in a democracy. How can policies that benefit very few people at the expensive of very many ever come to fruition?

Thanks to America’s greatest quality: ferocious optimism in the face of atrocious odds.

Americans are “deeply pessimistic about the fairness of the economic system.” But 6 out of 10 Americans also believe that they can get ahead if they work hard enough!

This is like believing you can win the lottery if you just liquidize all your assets and buy Powerball tickets.

Yes, moving up to the top is that difficult. While Forbes claims 70% of their top 400 made their fortunes from scratch, a report from United for a Fair Economy says that number is actually closer to 30%

Which means that out of all the 263 million souls who tried to crawl their way out of the middle and lower class, only 130 people made it.

Odds too small for me. But clearly big enough for most Americans.

And that’s because they don’t see themselves as exploited worker bees, but as momentarily broke billionaires.

By Jeroen Elsing
Ex-lawyer turned relationship coach