Income disparity is rising in America. But, the disconnect goes beyond how much people earn. The most troubling aspect of this statistic questions the value to our society and economy of what these highest earners do; or, said another way, questions the honesty of their earnings. There is a growing gap between the rewards for those who speculate on Wall Street and the earnings of those who labor on Main Street.
ON WALL STREET
(To the tune of, “On Broadway,” by Barry Mann, Cynthia Weill, Jerry Leiber & Mike Stoller; most popularly recorded by The Drifters in 1963 and George Benson in 1978)
They say if you can make a deal on Wall Street.
The streets are paved with bucks to steal, down there.
Because your compensation’s tied
To EPS that’s glorified.
In limousines you ride that go somewhere.
You know you’re really out of luck on Main Street
Forgotten desperate people stuck out here
Where there’s no job security
And nothing that you need is free
You realize you’re totally, nowhere
Feels good to be the 1 percent on Wall Street
Where lobbyists you pay don’t miss a beat
Keep carried interest on hedge funds
The tax exemption on your bonds
And never have to work for crumbs
On Main Street
Not on Wall Street
No, not on Wall Street
Lyric © 2013 by Robert S. Steinberg, Esquire
All rights reserved