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Opinion
Siesta Key Thursday, Dec. 15, 2011 3 years ago

Letters to the Editor

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by: Observer Staff
 

+ Occupation points out income inequalities
Dear Editor:

It boggles the mind that the top 1% in the U.S. has more wealth than the bottom 90%. And the concentration of wealth in the hands of a select few is projected to continue.

Since extremely wealthy people do not need to spend more than a small fraction of their income, their wealth is bound to increase just from the effect of interest or investment return, especially when the growth from investment return (interest and dividends) is taxed hardly at all. Add to that the access to favorable regulation and legislation that the super rich enjoy, and one can easily see that we are headed towards a plutocracy, where just a few people have all the power and wealth and the rest are barely able to eke out a subsistence living.

We are far advanced in this direction already.

This grim future could change if our legislators could stand up to the big-money interests and not give them unfair advantage. 
Terrence Greenwood
Venice

 

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