Tag: Michael Moore

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Opinion

Is income inequality ‘morally wrong’?

President Barack Obama speaks at the University of Central Missouri in Warrensburg, Mo., Wednesday, July 24, 2013. Obama hit the road to deliver remarks in Illinois and Missouri kicking off a series of speeches that lay out his vision for rebuilding the economy. (AP Photo/Susan Walsh) (CNN) — It’s getting harder to shock people with stats about income inequality. Americans know they live in a two-tier country — one where the uber-super-ultra-rich are leaving the rest of us behind; where, as Michael Moore famously put it, 400 of the richest people control the same amount of wealth as 150 million others; where, as President Obama said in a speech on Wednesday, the “average CEO has gotten a raise of nearly 40% since 2009, but the average American earns less than he or she did in 1999.” “Even though our businesses are creating new jobs and have broken record profits,” the president said in his prepared remarks, “nearly all the income gains of the past ten years have continued to flow to the top 1%.”