About Me

My photo
New York City, New York, United States
41 year old African-American Male. I like to think of myself as a jack of all trades and a master of none...I rely on reasoned common sense, rationality and what my gut tells me is right/wrong (combined with the well reasoned opinions of others!). I don't consider myself an expert on anything in particular, but I have lots of opinions.

Saturday, March 26, 2011

Rising Income (really, it should be wealth) Inequality

Bob Herbert, [now a former] NY Times columnist, wrote his last column today.  I generally enjoy ready Herbert's work, which today centered on the growing income inequality in the country (one point that I would like to note is that these periods the rosy less income inequality generally didn't apply to black, women, Latinos...but, hey...that's a minor issue)...The problem of income inequality has gotten out of control and we all seem to accept it as inevitable, which it is not.  Yesterday, the Times ran 2 other interesting articles....One concerned G.E.'s successful tax avoidance strategies (which should give all of us pause for concern...)  and the other concerned a borrower who was sent to jail to taking a "liar loan" (also known I think as a "stated loan" where a borrower states his/her income on the mortgage application without providing any substantiation)---this is contrasted with the former CEO of Countrywide Home Loans, whose CEO got a slap on the wrist...Yes, I do suppose that the rich are different from you and I---they don't actually have to suffer the consequence of their actions, we do!  (and, apparently, we no only suffer from our actions, but we suffer from their's too...).

Just a thought...in light of this article on G.E., the President should ask for Jeffrey Immelt resignation from this Presidential Commission (that I am certain doesn't really do anything...)...I am certain that I am expecting too much, but its a thought...

No comments:

Post a Comment