“RISING INEQUALITY” COULD IMPACT AMERICA’S AAA CREDIT RATING: MOODY’S: IT “WILL EXACERBATE ALREADY MATERIAL FISCAL CHALLENGES ON THE HORIZON.” IF UNADDRESSED, “SOCIAL TENSIONS WILL CONTINUE TO RISE.” | WHAT REALLY HAPPENED


“RISING INEQUALITY” COULD IMPACT AMERICA’S AAA CREDIT RATING: MOODY’S: IT “WILL EXACERBATE ALREADY MATERIAL FISCAL CHALLENGES ON THE HORIZON.” IF UNADDRESSED, “SOCIAL TENSIONS WILL CONTINUE TO RISE.”

Credit-analysis firm Moody’s Investors Service is sounding the alarm bells over “rising inequality” as the gap widens between America’s rich and poor, potentially threatening the country’s AAA rating.

So much for that vision of a newly emboldened American working class …

Instead, Trump’s $1.5 trillion in tax cuts, according to Moody’s, have helped make the rich richer, putting more of the onus of repaying the country’s debt on the poor.

“Since 1995, the top 10% of US income earners have experienced an overall median net worth increase of close to 200%, while the bottom 40% of income earners have seen a decline. There has been a particularly sharp increase in wealth and income inequality ratios since the global financial crisis,” Moody’s noted in a report released on Monday.

Webmaster's Commentary: 

Scary to acknowledge, but that's about the long and short of it on those tax cuts, which gave a tremendous economic boost... to the already monied and advantaged.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA