Why is an increasing wealth gap bad? 
Discussion
It's the symptom.
Whip-saw interest rates push vulnerable middle and lower socioeconomic people out of their mortgages (and other asset building debt too), hence taking their assets.
Then, the rates also increases the cost of living, while wages stagnate to match this. So their buying power is less. The whip-saw nature of this creates this total latency, and some job wages never even make up the difference.
The wealthy class meanwhile swoops in and acquires those very assets once held by the midde and lower class but now for cheaper.
It's not about hating on the rich, it's about recognizing that the system can arbitrarily change the rules and redistribute wealth and assets.
The lower and marginal class never gets a level chance at getting ahead. The system benefits them the absolute least.
If the wealth gap was built on an eqitable set of rules that didn't change so severely, there wouldn't be this issue.
Global total wealth is not a constant
Precisely. As global wealth increases the wealthy disproportionately have means and access to acquire more of it, at the expense of the marginalized.
This is why I support Bitcoin. It's a more equitable system where the rules, at least, are open, transparent, non(or at least very slow) changing and free for all to participate.
25% of the world's population doesn't have access to banking. And a disproportionate of those people are rural women.
A vast number of the top wealthy are profiting from a deeply skewed system.
Bitcoin helps fix some of this.
Still is a problem of government, not of the rich class.
This rich class is in fact a corrupt class friend of the criminals that make the rules.
They are not rich, but only accomplice
Yes, can't paint the whole sector with that brush, but essentially some of them are the rule makers.
for that reason the problem are the rule makers, they are corrupted and decide who win and who lose.
Is an unfair game and then people think that this is a problem of capitalism or rich, they cant see the real problem.
Human engineered natural mimicry - its a good thing. Wealth creation at an individual level increase the floor of poverty at a societal scale.
Wealth parity is strong in poor nations, and tyranny…. The wealth gap screamers are ignorant at best.
💯 Income differences between different professions are inescapable in a free society, since it is the customer that ultimately pays for wages.
The problem for the working class is the corrupt fiat moneyprinting scheme that results in ever higher costs of living and a faster spinning hamster wheel.
Wealth on a hard money standard opens up prosperous ecosystems that benefit local communities with jobs and economic stability.
The upper middle class house requires a range of human work from architects, vehicle operators, builders, carpenters, electricians, plumbers, to furniture designers, interior decorators, piano builders, artists, sculptors, libraries that require books, to maintenance workers and possibly pool cleaners. Add the demand for various types of tutoring and musical lessons.
To this can be added the variety of small or medium companies or freelance endeavors launched or made possible with proper funding from the middle class.
A society without these additional job opportunities is absolutely less well off.
I agree with what you say. But it means that the poor are getting poorer. And that cannot be measured with the wealth gap alone
Billionaires are powerful and will do anything to preserve their wealth. This at a cost of the ordinary man.
Secondly, have you ever heard about the cantillon effect?
Yeah, but arguably the problem is not really the billionaires, it's the corruption of money. There are some particular political parasites who deserve some ire, but it's almost never those people that the "eat the rich" crowd is worried about
Yeah . ampleforth.org proposed a very unique model of issuing inflation resistant USD stable coins pegged against 2019 USD value
To do away with cantillon effect as the new supply is issued the existing holders are distributed the new supply based on their old percentage of holdings.
Satoshi had described this as well just one week after his whitepaper on a ning forum.
Bc labor isnt free, it costs us time.
