The Heritage Foundation published an article by Patrick F. Fagan, Ph.D., which states:
Much of the debate about the growing gap between rich and poor in America focuses on the changing job force, the cost of living, and the tax and regulatory structure that hamstrings businesses and employees. But analysis of the social science literature demonstrates that the root cause of poverty and income disparity is linked undeniably to the presence or absence of marriage. Broken families earn less and experience lower levels of educational achievement. Worse, they pass the prospect of meager incomes and Family instability on to their children, ensuring a continuing if not expanding cycle of economic distress.
Simply put whether or not a child’s parents are married and stay married has a massive affect on his or her future prosperity and that of the next generation.
This really is all about economics. While the wealthy ownership class further amasses the FUTURE ownership of productive capital assets, subsidized by debt, the majority of Americans who are non- or under-capitalized are not earning enough income to properly support themselves and properly supporting a family is not an option. The country is experiencing a widening divide between an elite income class with well-paid salaries and dividend and capital gain income from stock ownership and low-pay wage earners and those dependent on taxpayer-supported government welfare funded by extracting taxes and incurring national debt. This situation will continue to worsen. Americans need to WAKE UP and realize that the FUTURE is one of technological unemployment and thus less income to support a family. Private sector job creation in numbers that match the pool of people willing and able to work is constantly being eroded by physical productive capital’s ever increasing role. Even if the “boomer generation” does not stay at work and does not block the pipeline for younger people seeking to advance their careers and have a family, due to technological unemployment and the reality that less people are needed to produce the products and services society needs and wants there will not be enough jobs. And as a result of dependency on wages and salaries, most American incomes will decline, which will result in a downturn in the economy as there will be fewer and fewer “customers with money” to purchase the products and services society needs and wants. The result: no or significantly reduced opportunity for income to support the future prosperity of the family.
There is a solution, which will result in double-digit economic growth and simultaneously broaden private, individual ownership so that EVERY American’s income significantly grows, providing the means to support themselves and their families with an affluent lifestyle. The Just Third Way Master Plan for America’s future is published at http://foreconomicjustice.org/?p=5797.
