Just listened to the TED talk and have no idea why this was controversial. He’s merely stating a fact. Income inequality does not help society. I remember when the government gave out refund checks. The middle and lower classes used those checks for necessities, while a (R) Senator from Texas, stated she was happy to receive her check and promptly put it into her savings account. That’s not the way to circulate money.
There are many ways to return money to the middle and lower classes and create jobs.
1. Re-instate Glass Steagall /if additional regulation is required provide that too.
2. Tax the hedge funds and short term traders / 35-75% (Charlie Munger says 99%)
3. Abolish Citizens United and Lobbyists. Let government get back to work. Recreate a level playing ground for voters/1 man 1 vote.
4. Concentrate on America and Americans. Buy American and encourage tourism within our own Country. Kick start the CCC and infra structure programs. Do something and do it now.
5. Abolish the student loan program. What happened to Merit Scholarships?
6. Engage in Regulatory and Agency reforms.
7. Reform Corporate taxation/close tax loopholes for American Corps.
8. Consider a slightly higher inflation target. Knowing that the Fed is not going to raise interest rates for years is demoralizing. It keeps everyone from spending.
Once the economy is growing, the deficit can be addressed. Efficiencies and reform will help reduce the deficit
Agree that a shared society means a “fair” society. Rich and poor are taxed appropriately. There is no” free ride”. This financial crisis was made by man and it can be reversed. Let’s block out the”noise” and work toward job creation.