inequality is destroying America.
Bernanke can talk about the growing inequality but there is little he can do about, says Mark Dow of hedge fund, Pharo Management, in this accompanying clip. Inequality is the result of an economy that favors the financially savvy and the globalization trend that has decimated our manufacturing sector.
Dow agrees with Bernanke that education is the key to closing the gap. Unfortunately, retraining and re-educating an aging workforce is a long and painful process. Plus, America is not attracting educated foreigners the way it used to. Globalization has tampered with that long-held tradition as well.
Third, Bernanke said we need to simplify the tax code, cutting rates and eliminating "loopholes."
This, he says, will incent people to make more investments
Answer by Anonymous at 2:59 PM on Dec. 6, 2010
Answer by itsmesteph11 at 2:59 PM on Dec. 6, 2010
Answer by UpSheRises at 3:04 PM on Dec. 6, 2010
Answer by lovinangels at 3:08 PM on Dec. 6, 2010
You know what's destroying this country? It's not the "evil rich"......it's Class Envy.
Answer by SavageGrl at 3:13 PM on Dec. 6, 2010
Answer by tony1638 at 3:18 PM on Dec. 6, 2010
Answer by SuperChicken at 3:30 PM on Dec. 6, 2010