A stunning 64% of American say the US no longer offers everyone an equal chance of ‘getting ahead’, according to a new poll by Bloomberg. The widening gap between rich and poor – as we have previously noted as wide as during the roaring 20s – has eroded faith in the American dream. The lack of faith, Bloomberg reports, is especially pronounced among those making less than $50,000 a year with 73% of those saying the economy is unfair. As class warfare is stoked, by none other than the President himself in his recent speech, noting economic trends have “jeopardized middle-class America’s basic bargain, that if you work hard, you have a chance to get ahead,” man-of-the-year Pope Francis recently commented, “such an economy kills.”
Inequality wider than during the Roaring 20s…
“Everyone on both sides of the aisle talks about the American dream,” says Sekac. “Right now, that’s not something everyone in this country can aspire to.”
Still, respondents are almost evenly split on the need for government action to narrow the income gap: 45 percent say new policies are needed, while 46 percent say it would be better to allow the market to operate freely even if the gap gets wider.
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“More people who are of color get opportunities now than they did,” but a lack of education holds too many back, says David Bakker, 56, a model-train builder in Baltimore.
In the Bloomberg poll, 68 percent of Americans say the income gap is growing, while 18 percent say it is unchanged and 10 percent say it’s shrinking.
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While the public is divided over whether the government should take steps to close the income gap, support for greater action is strongest among lower-income Americans, with 52 percent saying officials should do something and 35 percent putting their faith in the market.
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“The government keeps taking and taking and taking from us,” she says. “Eventually, people are going to strike back.”
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By 56 percent to 35 percent, they endorse [The Pope’s] criticism of “trickle-down” economics, which provides tax cuts for the wealthy as a means to spur job growth. And 66 percent say they have a favorable view of the pontiff compared with just 13 percent who view him unfavorably.
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“If we don’t address it, it’ll just continue to deteriorate, the gap will just continue to get bigger,” says Marini. “And who knows what that will lead to in 10 or 15 years? Social unrest? Economic unrest?”
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/rXNxP-Zeivc/story01.htm Tyler Durden