STOCK MARKET WATCH -- Tuesday, 24 November 2015

[Hotler]

2. Income inequality makes rich Americans stingier, study finds

What's behind the findings? The authors say concentrating wealth in the hands of a few may lead to "the belief that one is more important and deserving than others." That sense of entitlement may make the rich less altruistic and lead them to "believe that resources rightly belong to them."

The findings are consistent with unpublished research that shows cuts to social welfare programs, such as unemployment insurance, followed increases in inequality at the state level, says Lyle Scruggs, a political scientist at the University of Connecticut. "If the people in charge are even richer, are they less likely to care about those less fortunate, and therefore be less generous, as a mindset?" he said.

http://www.msn.com/en-us/money/markets/income-inequality-makes-rich-americans-stingier-study-finds/ar-BBnmg4o?li=BBnbfcN