No matter who wins election, america loses
By: Dayon Cotton
Tags: Politics, Society, Equality, Elections, Election 2020

Wealth inequality has gone too far

People are pissed off with the current state of this country — and for good reason. The pandemic revealed just how out-of-control inequality has become within this country. Like a runaway train, it just keeps on going with seemingly with no end in sight. For all of the talk of keeping America united, nothing could be further from the truth.

Immediately after the pandemic started, the shock to the American economy became unfathomable. The American economy was defeated by an enemy that it was grossly unprepared for. As a result, millions of people across the country are struggling to make ends meet and are in constant fear of their financial future.

Unless you’re in the upper echelon of a big name stock market company — then you’re just doing great. Ever since March, the economy has been in the midst of a K-shaped recovery. When the pandemic first broke out, Mr. Trump introduced the Cares Act as a rapid response to the crashing economy. This financial stimulus gave the markets exactly what it needed to persevere, however, it’s uneven distribution led to even greater problems. While many American households were given increased unemployment and a one-time $1200 check, it paled in comparison to the millions big-name companies received. This resulted in one of the greatest wealth inequality creations thus far. It’s mind boggling how so few people control so much of the country’s money.

At this point, you may be wondering…what the hell is a K-shaped recovery? Basically, if you created a line chart, it goes something like this:

First, the economic markets spiral downwards — represented by a line that simply goes down.

Then once the economic recovery begins, that line then splits into two different lines — one line that will trend upwards, and the other that will gradually trend downwards. Thus forming the aforementioned K-shape.

The line that goes upwards is represented by those with the wealth and resources to outlast a global pandemic/recession. This means those that have access to cash, money-making assets, jobs that allow WFH (work from home), and other traits that allow the power of wealth building.

The line that leads downwards is the vast majority of those without those resources. People that lack wealth, a steady job or employment, WFH access, and a host of other financially constraining factors. Unfortunately, this line encapsulates much of the middle and lower classes.

Photo Via CFM Advocates

Photo Via JP Morgan

Long story short — the rich have become significantly wealthier while average, middle-class workers have become increasingly broke.

Wealth inequality has become so blatantly obvious, that it can no longer become hidden. The wealthy elite of this country has created a system where only they can win.

Regardless, of who wins the election, it’s highly unlikely this will change. In fact, it will most likely get worse. If President Trump wins, you can expect more of the same as he will now be free to enact whatever policies he wants without a care in the world. No more worrying about re-election due to being on his second term. Since Donald Trump is a natural capitalist, you can expect wealth inequality to become dramatically worse.

Meanwhile, if Biden wins, he intends to redistribute wealth by raising taxes on the rich and the companies that enable them. While this could become a boon for the middle class and America’s infrastructure, his opposition will no doubt use this as a way to blame him for America’s increasing budgetary issues and spin Trump’s supporters against him even further for the next election.