And DC is not alone. Nationwide, cities like New York, New Orleans and Atlanta have economic inequality rates so high that the thread that once tied these cities together -- the ideals of community and shared prosperity -- is now frayed.
Listen to sermons throughout religious America and you are likely to hear variations on the lofty principle featured in both the Old and New Testaments: "Love your neighbor as yourself." But as we well know talk can be cheap.
Evidently, the trillions of dollars in bailouts to Wall Street banks and to their top investors, which didn't happen under FDR during the 1930s, has been having the result that Wall Street and their friends could be expected to have sought.
Though 401(k) plans (a defined contribution retirement plan) are supposed to build wealth, a new study by the Economic Policy Institute suggests that these plans are actually exacerbating wealth inequality by not adequately providing for most people's retirement.
I hear people complain about it almost every day, in one way or another. And of course it means that there are less resources available for 99 out of 100 people, if one percent are hoarding. The question is, what can we do about it?
In accepting the gross income inequality, obscene wealth gap, inexcusable corporate excesses, and blatant political corruption that we do today, we are already laying the groundwork for a real-world Elysium.
Many of the demands advanced at the 1963 March on Washington led to considerable gains for African Americans. However, with respect to the wealth -- the area that impacts economic mobility the most -- African Americans are actually losing ground.
While corporate profits soar and our biggest corporations increase in value by billions, the people of the city of Detroit, some of whom are also the customers and employees who keep those corporations in business, are insolvent.