By Servando Gonzalez
August 15, 2015
“My administration is the only thing standing between you and the pitchforks.” —Barack Obama talking to Wall Street bankers, April 3, 2009.
According to “conservative” millionaire disinformer Rush Limbaugh, the growing chasm between the mega rich and the hyper poor is nothing but a figment of the imagination of Marxists, communist and the Left encouraged by Obama — Limbaugh blames Obama for everything that is wrong in this country.
Nevertheless, he has never explained how it is possible that an impostor with a third rate intellect who spends most of his time playing golf and have never written anything worth reading, can conceive things like Obamacare and Obamatrade to screw Americans.
Unfortunately, despite claims on the contrary, there is a widening economic gap between the 1 percent of Americans who are doing extremely well and the 99 percent who are barely surviving paycheck to paycheck and have lost their hope on the American dream.
In a previous article, I mentioned French economist David Picketty’s book, Capital in the Twenty First Century, whose main thesis is that the gap between the poor and the rich has reached dangerous levels. Picketty warns that the U.S. may be on the same trajectory as France before the Revolution, where the very rich ended with their heads chopped-off.
Picketty is not the only economist concerned about the inordinate growing inequality in America and the world. For more than a century, economists have documented the existence of this alarmingly growing gap using a scale, known as the Gini coefficient or Gini ratio, devised by Italian statistician Conrado Gini in 19122. The Gini index is used to represent the income distribution of a nation’s citizens, and is commonly used to measure income inequality
According to the Gini index, if all the income in a country would were earned by one person and the rest earned nothing, they would have a Gini index of one. On the other hand, if everyone in that country earned exactly the same income, they would have a………