What If the Greedy Rich Paid Their Share? 8 Things to Know About Wealth and Poverty in the US

We're far from poor -- we just have a wildly lopsided distribution of wealth that makes us seem poor.

April 17, 2012

America is loaded. We are not a struggling nation ready to go under. We are not facing an enormous debt crisis despite what the politicians and pundits proclaim. We are not the next Greece.

Rather, we have an enormous concentration-of-wealth problem -- one that must be solved for the good of our commonwealth. We are a very rich nation but it doesn’t seem that way because our wealth is so concentrated in the hands of a few. This is America’s disaster.

But wait. Doesn’t the wealth belong to the super-rich? Didn’t they earn it fair and square? Isn’t that the way it’s always been?

Not by a long shot. The amount of wealth that flows to the super-rich is determined by our public policies. It’s all about how we choose to share our nation’s productivity.

Productivity and the Wealth of Nations  READ MORE

New Study Finds that Rich People are More Likely to Lie and Cheat

Bloomberg (yes, the same Bloomberg news outlet owned by multibillionaire New York City mayor, because you can't make this stuff up) reports that a new study in the Proceedings of the National Academy of Sciences found that the "upper class"--their words--are more likely to behave unethically than those of us with less money.

Elizabeth Lopatto at Bloomberg wrote:

The “upper class,” as defined by the study, were more likely to break the law while driving, take candy from children, lie in negotiation, cheat to increase their odds of winning a prize and endorse unethical behavior at work, researchers reported today in the Proceedings of the National Academy of Sciences.

Taken together, the experiments suggest at least some wealthier people “perceive greed as positive and beneficial,” probably as a result of education, personal independence and the resources they have to deal with potentially negative consequences, the authors wrote.    READ MORE