Causes Of Wealth Inequality

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Income and wealth inequality in the western world is an extremely destabilizing force. These levels of inequality have not existed since the gilded age or the 1920s. Without the redistribution of wealth in the short term and creating a more equal playing field in the long term, the future of humanity looks dystopic. The digital revolution and the ever moving progression of globalization, alongside economic policies that greatly favoured the wealthy, has caused inequality to skyrocket. According to the top .1% of Americans make on average 198 times more than people in the bottom 90%. Such distinctions have not existed in the United States since the 1920s and the 1920s were famously the party that never ended. Even stepping outside the United States into a more reasonable place such as the European Union, one still finds inequality creeping upward. It seems that western nations are all plagued by a progressive disease one that has already caused many unnecessary problems. Whether it be Brexit in Europe or Donald Trump in the United States, growing nationalism and populism is already shaking the foundations of civilization. If the root problem of inequality is not solved the shaking will only get worse until the foundation of civilization completely collapses.
The solution to lower income and wealth inequality is two pronged. In the short term it is clear that a redistribution of wealth is necessary. This can be achieved through higher taxation of the upper
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