Tanya Somanader

The 99 percent movement protests are going global as more and more people seek to register their frustration with corporate greed and injust economic policies. Preferential tax treatment has helped drive the U.S. to its worst level of income inequality since the Great Depression, with the nation ranking more unequal than the Ivory Coast, Ethiopia, and Pakistan. Since 1979, “the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest fifths of the country more than tripled.”

Relying solely on the wealthy to reduce income inequality seems woefully out of touch with reality. Numerous corporations are sitting on enormous profit, paying more to their CEOs than in taxes. Last year, CEO salaries increased by 27 percent while private worker wages increased by only 2 percent. This pattern will hardly help address the disparity.