The Problem With Growing Wealth Inequality

#wealthinequality #incomegap #economics
http://cenkuslaw.com

It’s indisputable that wealth inequality is growing and doing so at an alarming rate. The Occupy Wall Street movement of years past focussed on the inequality between the 99% and the 1%, but the distribution of wealth has become even more uneven than that. The real disparity is between the .1% that hold as much wealth as the bottom 90% of the United States population.

The problem here is that this growing inequality is not sustainable and is a marker of an unhealthy economy. Our economic structure is not a given, and is something that has historically been revisited many times over. I think we’re far from violent upheaval, but, continued unabated, it may very well end there.

So, it’s clear that the gap is widening, but why is it happening? Well, one reason is that those that have money have the benefit of compounding interest while those that don’t are stuck in a spiral of debt paying that interest to those that issue the credit to them.

The other reason is one of political structure. The rules of the economic game we find ourselves in are changed by those that have the power and access to change or directly influence the changing of those rules. Taxation – the tax structure, the types of income taxed, the loopholes that exist – is a major component of how the wealthy are able to hold onto their income.

There are many other contributing factors to the growing income inequality in the United States, so watch the video for my opinion, and please share your thoughts!

Take a look at my video on the future of decentralized power structures and how they can help solve issues of inequality:
https://youtu.be/wUWBllZQwf4

Here’s another vid you’ll like about the real metrics of societal progress:
https://youtu.be/_EhCCmC7At4
_____________________________________________

For a deeper dive into and other legal issues vital to the success of your deals and your business, visit me at:
http://www.cenkuslaw.com

Just starting up? Check this out for my advice on startup success: http://www.thestartupshepherd.com.

You can also reach me at:

https://www.linkedin.com/in/brettcenkus

http://www.cenkuslaw.com

_______________________________________________

About me:

My 20+ years of experience in business finance, business law and entrepreneurship have led me to believe that numbers and logic are awesome tools, but understanding human nature and emotions is the first step to business success.

The Cenkus Law Firm provides services related to mergers & acquisitions, general business issues and startups, including founders’ agreements and fundraising. I also consult with entrepreneurs and have invested my own capital as an angel investor.

From 2010-2013 I served as Chief Legal Counsel of a publicly-traded international oilfield services company. From 2001 to 2006 me and a partner founded and built Paragon Residential Mortgage. Paragon was sold to Bridge Investments in 2006.

I hold a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania.

Now, I live in Austin, TX with my wife and two kids. I enjoy reading, running, classic movies, great food and wine and some great American football.

More info on The Problem With Growing Wealth Inequality