David Hetherington appeared on The Drum to discuss wealth inequality, the US government shutdown, and layoffs at Buzzfeed. He was joined by managing director of Thought Broker Parnell McGuinness and freelance writer Saman Shad.
“Income comes from work for most people. It may flow a little bit from assets. The more that, the more you go up that income and wealth ladder, the more income you get from capital,” he said. “For most people, income is what they clear every year in their weekly, monthly pay checks wealth is much more driven by property ownership, shares, bonds, some of the more exotic things.”
“It’s easy to think about this inequality as an abstract discussion about income and wealth, but I think it’s valuable to think about it as lived experience. Over the past decade, if you earn most of your income from work, you have experienced flat wages, less secure work, you’re likely to be spending more time working. And so you feel like you’re going backwards.”