an interesting op/ed by Robert Reich (Worked in three administrations) regarding this trend. He says and I quote:
"In the late 1970s the richest 1 percent of Americans received 9 percent of total income and held 18 percent of the nation’s wealth; by 2007, they had more than 23 percent of total income and 35 percent of America’s wealth."
His op/ed is about how the conservatives of today are not conservatives but regressives. I will let you read his take on this as I have something else on my mind.
It would seem odd that as the richest one percent gathered and consolidated more wealth, our economic position began to show cracks. This transfer of wealth went unnoticed until it finally collapsed under its own weight. And even then, our leaders propped up the transfer of wealth so more of the wealth could move from Main St to the endlessly deep pockets of Wall Street. In the meantime our wages went down, our hours were cut or just disappeared.
It seems obvious to me this is not a healthy situation for the majority of Americans. Yet, these same robber barons have convinced a sizable chunk of the folks affected that what they are doing right in front of us is "good" for the nation. Some of us even embrace the recent hot tax plan 9-9-9 that will by almost every account I have read only take more from the poorest of us and put even more money back in the pockets of the sleaze bags who have been pillaging our economy. I gotta say, a national 30% sales tax on top of the state sales tax would kill my retail business.
Okay fine. Perspective, political slant, ideologies. But the fact is, the richest of the rich have been quietly tipping the economic scale more and more in their direction. And I guess this is fine if one believes that power consolidated in fewer hands is a good thing. Because we have now become a country that judges power on how big our paycheck is. At some point, once our pockets have been completely picked clean, they will go to work on restricting the diminishing rights like voting, right to negotiate labor contracts, and who we pray to as a nation.............. Uh, oh yeah they already are.
Keep it 'tween the ditches.......................