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Many believe income inequality is the result of economic systems problems. Many economists have devoted themselves to shed light on some of the flawed incentives and loopholes built into our policies and laws. Certainly, we can try to eliminate those policies and laws that amplify income inequality. We could increase income tax rates, do away with reduced tax rates on capital gains taxes, increase estate taxes and take that money to invest in education, job training, health care, etc. Are these worthy pursuits? In any event, how do you get any real action to combat the unlevel playing field we have here in America? It requires the will of the people who have the power to push agendas. Many of those in power, however, do not feel compelled make changes that reduce income inequality. I believe that regardless of our economic system, income inequality persists because of values that many of us have developed over time. In this episode, I speak to Dr. Robert Marino, a clinical psychologist and professor. Dr. Marino's specialty is working with people who have become financially successful. We discuss the problems created by income inequality, how income inequality is generated, why it persists, and most importantly, how to reduce it in an organic way. It was a very interesting discussion, and the take-aways may be useful to each of us.
Many believe income inequality is the result of economic systems problems. Many economists have devoted themselves to shed light on some of the flawed incentives and loopholes built into our policies and laws. Certainly, we can try to eliminate those policies and laws that amplify income inequality. We could increase income tax rates, do away with reduced tax rates on capital gains taxes, increase estate taxes and take that money to invest in education, job training, health care, etc. Are these worthy pursuits? In any event, how do you get any real action to combat the unlevel playing field we have here in America? It requires the will of the people who have the power to push agendas. Many of those in power, however, do not feel compelled make changes that reduce income inequality. I believe that regardless of our economic system, income inequality persists because of values that many of us have developed over time. In this episode, I speak to Dr. Robert Marino, a clinical psychologist and professor. Dr. Marino's specialty is working with people who have become financially successful. We discuss the problems created by income inequality, how income inequality is generated, why it persists, and most importantly, how to reduce it in an organic way. It was a very interesting discussion, and the take-aways may be useful to each of us.