- by New Deal democrat I got waylaid putting together a very detailed post about how the newly-widened Panama Canal is disrupting the internal US transportation network. When it goes up at Seeking Alpha, I’ll link to it. In the meantime, here is something that I found a week or two ago for you to chew on. Over half of all US wealth is not earned but inherited: According to a report summarized recently in the Washington Post, “The wealthiest 1 percent of American households own 40 percent of the country's wealth.” It’s likely that about 25% of all wealth in the US is inherited of the top 1%. I strongly suspect the relationship is even more egregious at the level of the top 0.1% and top 0.01%. It’s hard to argue that the US is at all a meritocracy when the starting points are so
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- by New Deal democrat