One of the smarter billionaires. Anyway, talking about income is vastly understating the problem. Not only income shares of the top 1% grow much bigger (and squeeze out the rest of the population, not the trickling-down BS), their shares of taxes were also greatly reduced due to the Reaganoids. On top of that, as Piketty mentioned in his book, earned incomes are becoming less and less relevant as wealth concentrates too much into the hands of too few people. What did we call those people who sat on their wealthy asses doing nothing for nobody ? Lords ? Counts ? Barons ? Dukes ? We might as well bring those titles back. =============================================================== Multi-millionaire Nick Hanauer is no dummy. He sees the writing on the wall. Id strongly suggest you read this entire piece titled The pitchforks are coming . . . for us Plutocrats And what do I see in our future now? I see pitchforks. At the same time that people like you and me are thriving beyond the dreams of any plutocrats in history, the rest of the country—the 99.99 percent—is lagging far behind. The divide between the haves and have-nots is getting worse really, really fast. In 1980, the top 1 percent controlled about 8 percent of U.S. national income. The bottom 50 percent shared about 18 percent. Today the top 1 percent share about 20 percent; the bottom 50 percent, just 12 percent. But the problem isn’t that we have inequality. Some inequality is intrinsic to any high-functioning capitalist economy. The problem is that inequality is at historically high levels and getting worse every day. Our country is rapidly becoming less a capitalist society and more a feudal society. Unless our policies change dramatically, the middle class will disappear, and we will be back to late 18th-century France. Before the revolution. And so I have a message for my fellow filthy rich, for all of us who live in our gated bubble worlds: Wake up, people. It won’t last. politico/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014.html?hp=f2#.U63Z8fkvnNw
Posted on: Fri, 27 Jun 2014 20:54:34 +0000
Trending Topics
Recently Viewed Topics
© 2015