PCDCC’s March 30th public showing of Robert Reich’s movie, “Inequality For All”, was attended by a standing room only audience. The movie provided facts, figures, and graphical representations of how political changes have resulted in a reduction of the economic well being of the average American despite the fact that the U.S. economy has continued to grow.
The disparity between the relative wealth of the top 1% and the other 99% of America’s population has reached levels not seen since the economic crash of 1929. America’s 400 wealthiest individuals hold 50% of our nation’s wealth. Rather than investing their wealth in creating jobs and increasing wages for the American worker, CEOS, business leaders, and shareholders use corporate loopholes and investments that lower their tax responsibility, maximize profits for stakeholders and create more wealth for themselves. Simply put, the rich get richer!
This situation was brought about by tax cuts for the wealthy during the Reagan years and legislation that benefited the rich in succeeding years. These changes have resulted in stagnating wages for workers and lost revenues to the government. Lost revenues have resulted in a reduction of public funding to provide services, build our infrastructure, and support our educational systems. In addition, inflation continues to rise and Americans do not have the buying power that they had in the 70”s and 80’s. As a consequence, the average American carries a greater financial burden.
No matter which political party a person supports, all American workers and small business owners are affected. The problem must be corrected. We can make changes that benefit the 99%. Educating ourselves on the facts is an essential step in the right direction. I highly recommend viewing this movie if you haven’t already seen it. It is well worth watching!