I am also acutely aware that things are very different for today's young. It grieves me -- and it should grieve all of us -- that today a child born into the bottom 20% income group will have a less than 1 in 20 chance of making it up to the top quintile, whereas children born to those in that top tier will almost certainly stay at the top. Surely there is a threat to democracy itself, and not just to social mobility, when 10% of American's population gorges itself on half of the national income.
Yesterday President Obama called inequality the "defining challenge of our time." He made it clear that our disappearing middle class is far from a natural development: that 40 years of relentless attacks on progressive taxation and sharp cuts in support for quality public education have taken a real toll. He should have mentioned the parallel decades-long attack on unions and collective bargaining rights. He should have issued a clarion call for restoring equitable tax rates at the top. But we must still thank him for putting America's shame -- a level of inequality that now rivals that of Jamaica and Argentina -- right out there in the open.
One more thing. Combating inequality on this scale isn't just a test for civil society. It's an acid test for faith leadership. As Mary's Song reminds us at this time of year, God comes to us with good news for the downtrodden -- and also with dire warnings for the indifferent rich.
Yours for a more widely-shared prosperity,
Peter Laarman
Executive Director