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View Diary: Wealth Condensation: Why the Rich Get Richer (172 comments)

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  •  it's the same issue, but on a globalized scale. (1+ / 0-)
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    Wealth distribution from the G-7 to the new players in the game.

    And I think you're misssing the point fo this diary.

    For a couple of decades after WW2 we seem to figured out how to generate a reasonable and improving standard of living for everyone.

    The reason was fair and progressive taxes redistributing wealth combined with organized labor movements.

    As I see it, not only is it imperative that we institute a new progressive tax policy, but it is likewise important that we start to institute a new tariff policy as well. China will flip, but we have to take advantage of the limited and dwindling ace up our sleeve - our buying power - to negotiate a stop to the drain on jobs. We must propose and help China build  a better self-sustaining economy based around a growing middle class like we once had. Rather then continuing to rely on simply sucking the jobs and wealth from other nations as their economic model.

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