...in other related news, 12pm is still noon.
We are a capalist nation where the circulation of money allows demand to promote the creation of goods and services. When the vast majority of people have less money, and a small segment has more, it is counterproductive to a functioning capitalist system.
"WASHINGTON The growing gap between the richest Americans and everyone else isn't bad just for individuals.
It's hurting the U.S. economy.
So say a majority of more than three dozen economists surveyed last week by The Associated Press. Their concerns tap into a debate that has intensified as middle-class pay has stagnated while wealthier households have thrived.
A key source of the economists' concern: Higher pay and outsize stock-market gains are flowing mainly to affluent Americans. Yet these households spend less of their money than do low- and middle-income consumers who make up most of the population but whose pay is barely rising.
"What you want is a broader spending base," said Scott Brown, chief economist at Raymond James, a financial advisory firm. "You want more people spending money."
"The broader the improvement, the more likely it will be sustained," said Michael Niemira, chief economist at the International Council of Shopping Centers.
Income inequality has steadily worsened in recent decades, according to government data and academic studies. The most recent census figures show that the average income for the wealthiest 5 percent of U.S. households, adjusted for inflation, has surged 17 percent in the past 20 years. By contrast, average income for the middle 20 percent of households has risen less than 5 percent."
A myriad of sourcesIt's hurting the U.S. economy.
So say a majority of more than three dozen economists surveyed last week by The Associated Press. Their concerns tap into a debate that has intensified as middle-class pay has stagnated while wealthier households have thrived.
A key source of the economists' concern: Higher pay and outsize stock-market gains are flowing mainly to affluent Americans. Yet these households spend less of their money than do low- and middle-income consumers who make up most of the population but whose pay is barely rising.
"What you want is a broader spending base," said Scott Brown, chief economist at Raymond James, a financial advisory firm. "You want more people spending money."
"The broader the improvement, the more likely it will be sustained," said Michael Niemira, chief economist at the International Council of Shopping Centers.
Income inequality has steadily worsened in recent decades, according to government data and academic studies. The most recent census figures show that the average income for the wealthiest 5 percent of U.S. households, adjusted for inflation, has surged 17 percent in the past 20 years. By contrast, average income for the middle 20 percent of households has risen less than 5 percent."
We are a capalist nation where the circulation of money allows demand to promote the creation of goods and services. When the vast majority of people have less money, and a small segment has more, it is counterproductive to a functioning capitalist system.
