Herbert mentions a concession that some good can come from having a large gap between the rich and everyone else. He quickly shuts that down, calling those who think that foolish. "Anyone who thinks there is something beneficial in this vast disconnect between the fortunes of the American elite and those of the struggling masses is just silly."
Herbert has many supports for why this divide between classes is a rough situation:
- "There is no way to bring America’s consumer economy back to robust health if unemployment is chronically high, wages remain stagnant and the jobs that are created are poor ones."
- "Extreme inequality is already contributing mightily to political and other forms of polarization in the U.S. And it is a major force undermining the idea that as citizens we should try to face the nation’s problems, economic and otherwise, in a reasonably united fashion."
- "Societal conflicts metastasize as resentments fester and scapegoats are sought."
- Billionaire mayor of New York, Michael Bloomberg, selected multimillionaire with no education background, Cathleen Black, to be the city's schools chancellor.
- Ms. Black will be peering across an almost unbridgeable gap between her and the largely poor and working-class parents and students she will be expected to serve.
- "So here we have the billionaire and the millionaire telling the poor and the struggling — the little people — that they will just have to make do with less. You can almost feel the bitterness rising."
- As The Times reported this week, U.S. firms earned profits at an annual rate of $1.659 trillion in the third quarter — the highest total since the government began keeping track more than six decades ago.
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