WEALTH: The distribution disparity

I was impressed to hear that the GDP (Gross Domestic Product) was up 3.2 percent in the first quarter. So, I asked a few friends, “Did you hear that the GDP was up 3.2 percent in the first quarter?” They all replied, “Really, I didn’t notice.”

I have a degree in accounting with a minor in economics. Which means … I know just enough to be dangerous. For that reason, I wonder if there aren’t, actually, two GDPs?

Is it possible that the last recipients of the big Trump tax cut (big corporations and really rich people) have a GDP (Great Deep Pockets) of, say, 6 percent, while the average person has a GDP (Generally Desperate People) of, say zero, which averages out at 3.2 percent for all of us?

I can remember a few years ago when Bill Gates’ income raised the average income of all Washington state citizens by $1,500. Could that be happening in the whole country? Could that be why the average “Joe” doesn’t feel the good economy?

We now have three Americans worth more than the bottom half of all Americans. If you don’t feel that the unencumbered accumulation of wealth isn’t a problem, think of this: If you had invested one dollar at 6 percent interest when Christ was born, it would now be worth more than all the money in circulation in the world today.

We see Americans worth $10 billion, $20 billion, or more. What will that be in 50 years, or 100 years? Aren’t we all destined to serfdom?

R.H. DUFFIELD

Coeur d’Alene