Why are Americans more willing to tolerate economic equality than political equality?

Answer 1

After having lived all over the United States, traveled extensively internationally and having worked at one of the biggest investment banks on Wall Street, I can tell you that most Americans refuse to see the truth of their/our dire situation. They refuse to see the systematic destruction that is being inflicted upon the middle and poor classes in this country by Wall Street and CEOS and big corporations in general. There has always been a class war being waged against the poor in this country and now the rich elite are waging war against and destroying the middle class.

But your question is wrong. It is Americans' very willingness to tolerate political inequality in our flawed campaign finance system that only allows millionaires to enter the race, that has led to our disastrous third-world-levels of economic inequality. While in other countries I have learned that they have campaign finance funds, a set amount allotted to each candidate to run their campaigns. This allows people from all walks of life to be able to afford to participate in the political system of their own country, not just the millionaires. America needs campaign finance reform immediately. I only hope it is not too late for this country. Although I see it sliding closer and closer toward third world status everyday.

While at the investment bank, I heard managing directors say with distaste in their voice "well, at least THOSE PEOPLE" got to live in a nice home for a little while" while talking about the unfortunate Americans who have lost their homes. And guess who "those people" are? Yep! That would be all us poor and middle class Americans who are NOT millionaires. And Americans still let these people run their country! It is truly quite unbelievable. Middle class Americans vote against their own interests, the wealthy elites do NOT. You can bet they're going to make sure their buddies, the other millionaires get and stay in office. In the meantime, the corporations will keep the poor and middle classes too exhausted from working their three jobs to be able to actively participate in the running of their own country.

And to answer your question, we Americans have been sold a bill of goods that if we work hard enough we will succeed and become one of those wealthy elites...one day. That may have been true for my grandparents generation, The Greatest Generation, but what that generation also had was the complete lack of competition. They lived in a world where the rest of the world was still decimated by World War II. But now the world has caught up with us and we have absolutely no idea what is happening, what to do about it or how to help ourselves. Working hard and getting something in return for that hard work is no longer the case and it is the unwillingness to let go of that fairytale that will finally destroy the middle class and ultimately, America itself.

We also need to take an example from the CEO of Costco. He never pays himself any more than a certain percentage of his lowest paid employee. That is what Americans need to demand for themselves from their employers. How much money is enough for the top guy? A country that has all the money pouring into just one pocket will surely fail. Fair wages and salaries are the true trickle down economics and true spreading of the wealth.