Turns out when you ask Americans what kind of society they want, they prefer a much more even distribution of wealth than currently exists. According to a comprehensive study conducted by Professors at Duke & Harvard, Americans' notion of an ideal distribution of wealth is closer to Sweden, where the top quarter of the population owns 36% of the wealth. That same percentage of the population owns 84% of the wealth in the U.S.
The findings of this study (based on a sample of about 5,000 respondents) confirm one of my long-held theories: Americans have great instincts when it comes to the economy, but they have been brainwashed into ignoring those impulses!
From the Abstract:
First, respondents dramatically underestimated the current level of wealth inequality. Second, respondents constructed ideal wealth distributions that were far more equitable than even their erroneously low estimates of the actual distribution. Most important from a policy perspective, we observed a surprising level of consensus: All demographic groups – even those not usually associated with wealth redistribution such as Republicans and the wealthy – desired a more equal distribution of wealth than the status quo.
As we try to come out of the worst recession since the Great Depression, it now seems clear that the ammunition is availble for anybody who might want to fix the twisted frame in which we currently debate economic policy. The Census has recently reported an increase in poverty and greater income inequality. Chronic unemployment is ravaging our society. We all know the official statistics tell only half the tale. National polling indicates an appetite for increasing taxes on the rich, even amongst some Republicans!
As a politician, you have two choices after taking in all of this. Enact the people's agenda or pander to your wealthy donors. Popular ferment CAN do a lot to ensure the former. I would like it very much if the Netroots would latch onto this evidence and use it to bludgeon those who claim that ending tax cuts for the rich (or even raising them higher!) is a form of class warfare that goes against the will of the American people!
Update:
Baseline Scenario presents the major findings from this survey in an easy-to-understand graph!