The dangerous concentration of wealth and the slowing of the United States economy / by kevin murray

The United States has proven that it cannot grow at even 3% on a per annum basis, and this despite a decade of economic expansion.  While there are many reasons for this, one of the most obvious ones is that the concentration of wealth held in the hands of the very richest of the richest Americans is such a staggering amount of money that if just the three richest Americans, of which according to Forbes magazine of February 2019, those three Americans are worth $310.4 billion, were somehow to magically have their money appear, instead, in the hands of all those that are currently living in poverty in America, which is estimated at 39.7 million peoples, than each of those persons would have in their hands $7819.  Not too surprisingly, if that money was to show up in the hands of those suffering from the most debilitating poverty, those people would make it their point to primarily spend that money on consumer goods, paying back bills, on their transportation, dental, medical, and so on and so forth, of which all of this money so spent would help boost the economy.


The fundamental problem with all the wealth in America being concentrated into so very few hands, is that those that have that wealth, are not going to spend much of it, and often do not invest that money in any meaningful way that would definitively impact employment in a positive way or increase the consumption of consumer goods, because rich people only have so many mouths to feed and only so many houses that they can buy, before really they have pretty much everything that they need or might desire.  On the other hand, poor people lack just about everything, so that, factories and manufacturers in America are never going to be running at true full capacity because those that have the money, don't have any reason to overbuy what they are producing and manufacturing, so these factories and manufacturers produce less than they could or ought to.


The current mindset of dealing with this overconcentration of wealth appears basically to do a whole lot of nothing.  This means that those that lack ready money are forced to borrow through their credit cards, through their student loans, through their homes, and through payday lenders, in order to achieve some sort of semblance of a proper American life, but all of this borrowing for those that really do not have the ready means to pay back that money is just kicking the can down the road, and isn't helping to fundamentally alleviate the poverty problem.


If America really cared about the poor as well as the impoverished, they would spend a lot less time exploiting and incarcerating them, and a lot more time creating the conditions that would allow at least future generations to have a fair shot at being successful.   That would necessitate wholesale changes in addressing the insane concentration of wealth in America, which only benefits those that are superrich at the expense of the very poor and most vulnerable; as well as unfairly overburdening the middle class so that they pay more than their fair share in taxes and services, as well as unjustly pinning future generations with staggering loads of federal debt because this government will not properly tax the very people that have the money to get our fiscal house in order.