The more unequal income levels are, the worse off everyone does in aggregate. While the rich have the levers of power and are busy installing new and more efficient money vacuums, to siphon money upward toward the top levels of income, the country as a whole suffers. Social systems break down, and the middle class erodes to the point where everyone who isn’t super-rich is working poor. Privilege accumulates at the top, by design.
The economy is driven not by the super-rich, whose wealth supposedly trickles down to the lower classes. The rich horde their money. What trickles down is not money. And when the rich have all the money, the economy stops. I mean, it STOPS. It grinds to a halt. Depressions happen. You know, like this one the US is still in now, reverberations being felt throughout the rest of the world — this crumbling economy whose recovery has been stymied by Republicans in the States at every turn.
Welcome to the new gilded age, ladies and gentlemen. If we don’t do something about it soon, we’ll be here for a very very long time.