The poor are not poor because the rich are rich

By Star Parker

A new study released by the left-leaning Institute for Policy Studies in Washington, D.C., headlines what the organization sees as shocking news: that in America some people are much wealthier than others.

Some findings of the study, entitled “Billionaire Bonanza: The Forbes 400 and the Rest of Us,” are:

“The three wealthiest people in the United States – Bill Gates, Jeff Bezos, and Warren Buffett – now own more wealth than the entire bottom half of the American population.”
The 400 billionaires on the Forbes 400 list “now own more wealth than the bottom 64 percent of the American population.”
“One in five U.S. households …have zero or negative net worth. Over 30 percent of black households and 27 percent of Latino households have zero or negative net worth.”

The message IPS wishes to convey here is that there’s a connection between wealth at the top and dismal economic circumstances at the bottom. That is, the poor are poor because the rich are rich.

Their proposed solution for narrowing the gap between rich and poor follows this premise. The way to make the poor less poor, in their view, is to make the rich less rich. And, of course, they propose to do this with government …read more

Source:: World Net Daily