Yes, extreme income disparity is very dangerous to democracy, one of the worst things possible. It doesn't just mean that more people can't meet their basic needs; it's bad for society as a whole because it threatens infrastructure, progress and competition. I read an article tonight that the US is 18th in internet speed. Korea is number one, largely because of government support. If the rich can live in gated communities, fly in private planes, send their children to private schools, what incentive do they have to contribute to the general good? In the end this selfish shortsightedness harms the rich as well, but as we saw in the financial crisis, they don't always act in their best long-term interest. Surveys of standard-of-living and happiness consistently rate at the top those countries with a strong sense of civic duty and a relatively low ratio between the incomes of CEOs and their workers. One only has to look to Latin America to see the effects of the extreme concentration of wealth. The richest man in the world is now a Mexican, so why aren't Americans emigrating to Mexico?
As for the redistribution of wealth, we Americans seem to be singular in our utter hatred of taxes, despite all the benefits those taxes bring. Regarding all the warnings of impending socialism from conservatives, I don't know what that means. Government by nature redistributes wealth. That's what government does. It just seems conservatives only notice when that redistribution goes to health care or the poor, and turn a blind eye when it goes to agricultural companies and the Department of Defense.
