There’s no doubt that income inequality is finally getting the attention it deserves. President Barack Obama assailed it in his second inaugural address saying we can’t succeed “When a shrinking few do very well and a growing many barely make it.” Ben Bernanke decried inequality for “creating two societies.” Pope Francis famously tweeted his opinion. Even Goldman Sachs CEO Lloyd Blankfein called for “some redistribution” to create a stable and just society. But for all the talk, not much is happening. Why is that?
It turns out that the solutions to income inequality are difficult and rather long-term. There are also signs that the population really doesn’t care yet, meaning there is no pressure on our leadership. But there are a few things that we can do to start improving income distribution and create genuine opportunity today.
It’s a Barataria tradition to not complain without offering solutions. Don’t like these? Please suggest your own!