Obama: Income Inequality ‘Challenges the Very Essence of Who We Are’

“But this increasing inequality is most pronounced in our country. And it challenges the very essence of who we are as a people. Understand, we've never begrudged success in America. We aspire to it. We admire folks who start new businesses, create jobs, and invent the products that enrich our lives, and we expect them to be rewarded handsomely for it. In fact, we've often accepted more income inequality than many other nations for one big reason, because we were convinced that America is a place where even if you're born with nothing, with a little hard work, you can improve your own situation over time and build something better to leave your kids."