Most of us are aware of the story of Robin Hood, a person who robbed from the rich to give to the poor.
While most likely fictional, it has resonated over the years as a popular story and has inspired a number of books and movies.
This popular legend resonates because it was pretty clear that the rich of that time exploited the labor of the serfs who worked their lands.
The rich exploiting the poor is something that has happened almost everywhere almost always.
It has led to significant disruptions, think the French Revolution or the Russian Revolution to name two.
However the system has always ultimately reverted back to this model, as some of us manage to excel and surpass the rest of us in acquiring wealth.
I don't think too many of us object to the people who do this, like Bill Gates, or Warren Buffet. They managed to create their own money and they certainly have the right to enjoy it.
What strikes many as unfair is how profits are distributed among those who generate them. If you look at the statistics you see a number of trends which basically tell you the rich get richer and the poor are standing still at best.
One example would be CEO pay vs average worker pay. In 1965 CEO's made about 25 times what the average worker made. On average they now make closer to 200 times as much. Have CEO's become that much better?
The problem of wage inequality is further compounded by the wealth inequality. The average American has seen his wealth increase except of course the average hides a disturbing fact. All that increase went to those in the upper percentiles while those in the bottom saw wealth stay the same or even decrease.
In the last election we saw the current President tap into the discontent this has sown by promising to reverse that trend, however he has passed a tax bill that increases is.
The next election may see a whole different populist approach to fixing the problem, call it the Robin Hood one, or if you oppose it you might call it a socialist approach.
We'll see.
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