Part 3/10:
As wealth flows towards the top, essential resources become increasingly out of reach for the working and middle classes. Gary notes that crises, such as the 2008 recession and the COVID pandemic, exacerbated this wealth transfer, resulting in a troubling landscape where the working class has lost their savings and entered debt while the wealth of the richest continues to grow.
The Call for Tax Reform
To address the looming economic crisis, Gary advocates for a robust reevaluation of taxation. He argues that the only feasible way to shift wealth back to the working class and middle class is through increased taxation on the wealthy. This perspective is both contentious and politically challenging, given the opposition from affluent individuals who benefit from the current system.