It's one thing for the wealthy to embrace policies that allow for this "unequal distribution of wealth," but it continues to amaze me the number of middle class and working class folks who make it all possible. Take a look at these numbers below (from Bernie Sanders, U.S. Sen. VT) and then tell me again about "trickle down economics" or the job creators.
Listen, if you don't want to vote for Barack Obama, that's fine--I can understand that. But don't vote for Mitt Romney thinking he's going to implement policy that will be beneficial to anyone other than people like Mitt Romney (I'm referring to his wealth, not the fact that he is white and male).
And this from Ben Eisenberg ("Friends of Bernie Sanders")
* * * * *
Robert Reich, Secretary of Labor in the Clinton administration, discusses what's behind the failure to address what's really going on w/ the economy (it's 2.5 minutes long):
Public vs Private Morality
Listen, if you don't want to vote for Barack Obama, that's fine--I can understand that. But don't vote for Mitt Romney thinking he's going to implement policy that will be beneficial to anyone other than people like Mitt Romney (I'm referring to his wealth, not the fact that he is white and male).
In the United States today, we have the most unequal distribution of wealth and income since the 1920s. Today, the wealthiest 400 individuals own more wealth than the bottom half of America -- 150 million people. Today, the top one percent own forty percent of all wealth, while the bottom sixty percent owns less than two percent. Incredibly, the bottom forty percent of all Americans own just 3/10 of one percent of the wealth of the country.
The distribution of income is even worse. If you can believe it, the last study on this subject showed that in 2010, 93 percent of all new income created in the previous year went to the top one percent, while the bottom 99 percent of people had the privilege of enjoying the remaining seven percent. In other words, the rich are getting much richer while almost everyone else is falling behind.
And this from Ben Eisenberg ("Friends of Bernie Sanders")
Bernie believes that at a time when the six largest financial institutions have assets worth $9 trillion, which is the equivalent of two-thirds of the GDP of the United States, and when the top six banks provide half of the mortgages in America and over two-thirds of the credit cards, it is clearly time to break them up.
* * * * *
Robert Reich, Secretary of Labor in the Clinton administration, discusses what's behind the failure to address what's really going on w/ the economy (it's 2.5 minutes long):
Public vs Private Morality
The Gilded Age analogy fits our times well. But take the next step. Who are the new robber barons? It's not the 1%, it's the .1% who make the rules that benefit themselves. The vast majority of the 1% are some of the best amoung us. The Steve Jobs of the world aren't the problem. It's the John Corzines who steal $8 Billion from people. Did he go to jail? Hardly. He testified before Congress with the word 'Honorable' before his name on his name tag. We need to focus our fury at the right target, the bankers. To hit the honest wealthy just because they are successful is wrong and dangerous.
ReplyDeleteI half agree w/ you, Brian--the rule makers/vote buyers are the primary culprit. Just know what I advocate is not class warfare or any kind of class envy--where you and I differ is that I believe we all need to pay our fair share; I hope the Bush tax cuts expire, even for myself. And then we make the big corporations pony up.
ReplyDeleteHaving said that, I'm all in for going after the big fish (and making our government hold themselves and the big fish accountable).
per your point, Bernie seems to hit on it here:
"Today, the wealthiest 400 individuals own more wealth than the bottom half of America -- 150 million people."
PS--appreciate you dropping by again