With Inequality Rising, Billionaire Steve Schwarzman Expresses Surprise That American Voters Are Unhappy

“I find the whole thing astonishing and what’s remarkable is the amount of anger whether it’s on the Republican side or the Democratic side,” the Wall Street mogul said at the World Economic Forum in Davos. “Bernie Sanders, to me, is almost more stunning than some of what’s going on in the Republican side. How is that happening, why is that happening?”On the eve of the conference, the nonprofit group Oxfam released a report showing that the richest 62 people on the planet now own more wealth than half the world’s population. In the United States, recent data from Pew Research shows the average American’s median household worth has stagnated, as the median household worth of upper-class Americans increased 7 percent. Schwarzman, though, expressed surprise that people are enraged.“What is the vein that is being tapped into across parties, that has made people so unhappy?” he said, telling Bloomberg’s anchor, Erik Schatzker, “That is something you should spend some time on.”

Further down…

In recent years, Schwarzman has made national headlines likening tax increases on the wealthy to the Nazi invasion of Poland.

-David Sirota

Source: With Inequality Rising, Billionaire Steve Schwarzman Expresses Surprise That American Voters Are Unhappy

He’s on a panel at Davos that’s discussing ideas for regulatory reforms that could help foster inclusion while averting future shocks. Hopefully, they’ll have counterpoints.

Americans are fed up

Americans are fed up and fighting back. Seen in isolation, the Fight for $15, Black Lives Matter, the climate-justice movement, the immigrant-rights movement, the campaign for a financial-transactions tax, and the renewed push for single-payer healthcare may seem like unrelated causes. Taken together, they form a rising chorus of outrage over a government that caters to the demands of the super-wealthy, while failing to meet the needs of the many. They share a fury at a politics captured by special interests and big money, where pervasive corruption mocks the very notion of democracy.

-The Editors for The Nation

Source: Bernie Sanders for President

President Lincoln’s “House Divided” speech was written to address the issue of slavery, but with a few tweaks we might refit his words to our current circumstances.

A house divided against itself cannot stand. I believe this government cannot endure, permanently, such inequality. I do not expect the Union to be dissolved — I do not expect the house to fall — but I do expect it will cease to be divided. It will become all one thing or all the other. Either the opponents of gross inequality will arrest the further spread of it, and place it where the public mind shall rest in the belief that it is in the course of ultimate extinction; or its advocates will push it forward, till it shall become entrenched in all the States, old as well as new — North as well as South.