Education and Inequality

 

Education and Inequality

 

This report was based upon new data and analysis and if inequality was not addressed it could lead to economic consequences that will affect the world globally.  The film lists countries where it is currently impacting the quality of life and described the global middle class and the global middle class.  Top earners or 1% of global growth capturing so much of income growth establishes the problem, and how wealth could be owned by private and government interest.  The equation of private versus government wealth is problematic as the film stated, specifically in relation to the top 1% owning over 40% of wealth.  These are staggering numbers.

If the question is do I agree with the four points made in the short video, the answer would be:  I agree with the importance of education, and opportunity.  In my opinion the federal registry and taxation does little to impede the rich getting richer. In fact, in recent events, our current administration wanted to create a similar program through the IRS, but the news reports the concern was to identify transactions in the $600.00 range to increase revenue and punish tax evasion.  Somehow, I don’t believe that has any effect on the top earners in the US.  The problem with government sponsored programs is that they generally are at the behest of private individuals and lobbyists who are stakeholders and want taxes, laws, and programs slanted in their favor.  In law we connect this with the perverse incentive.  What poor people think is helping them is robbing them.

In conclusion the key would be education and creating opportunities for the poor to create higher quality of life across the spectrum.  Real estate ownership would have to be linked to that as well.  Something no one is willing to discuss because of the nature of economics, supply chains, production, GDP, fiat money, and more, is a cap on earnings.  If you ask the common person how much is too much that is a difficult question to answer. What we do know is that the richest one percent of the world have accumulated most of the wealth of the world at the expense of others.  Does it make sense for people to literally starve while someone is worth 500 billion dollars, and continually earning more by the minute?