America's Middle Class Slide Since the Reagan Administration
Wattree's Actual Factuals
America's Middle Class Slide Since the Reagan Administration
The problem with the GOP is they've never seen a tax cut for the rich that they didn't want to enact, and they pay for it on the backs of the poor and middle class. That's why since the Reagan administration the simply rich have become filthy rich, and the poor and middle class have been constantly sliding downhill. Today the top 5% of the population controls 72% of the wealth. What happens when it becomes 82%, or 92%? By definition, we'll then be slaves. The only difference between that and being actual slaves is that we'll have to provide our own housing.
.
"In 1982, Forbes magazine began its now much-read annual list of America’s richest men and women. At the time of the first list, there were 12 billionaires in the country and fewer than 200,000 millionaires. By the year 2000, there were nearly 300 billionaires and about 5 million millionaires. Smith’s account of the rise of the rich and super-rich tells the story of five types of individuals: entrepreneurs, dealmakers, investors, tycoons (corporate executives, who are distinguished from
entrepreneurs), and entertainers."
http://www.beardbooks.com/beardbooks/the_rise_of_todays_rich_and_super_rich.html
.
"No matter how you slice it, when it comes to income and wealth in America the rich get most of the pie and the rest get the leftovers. The numbers are shocking. Today the top 1 percent of Americans control 43 percent of the financial wealth (see the pie chart below) while the bottom 80 percent control only 7 percent of the wealth. Incredibly, the wealthiest 400 Americans have the same combined wealth as the poorest half of Americans — over 150 million people."
.
A recent Princeton study Shows that America is no longer a democracy. We are now an Oligarchy, controlled by the rich. So it is essential that we wake up. Racism is no longer the war; racism is now merely a TOOL of war. We are now knee-deep in a CLASS WAR, and the American people are losing badly - ALL of the American people.
.
Here’s the game that we're allowing the corporatists to run on us. They’ve convinced America that if we give the rich enough money, they’ll use that money to create jobs for the poor and middle class. Now, I don’t claim to be an intellectual giant, but it doesn’t take a great mind to understand that demand fuels supply, not the reverse.
.
If I made my living selling Gucci Bags, for example, I don’t care how much money you give me, I’m not going to hire anyone to produce any more Gucci Bags than I have in stock if I'm being forced to sell those bags in a homeless shelter. It wouldn’t make sense, because in a homeless shelter no one would have the money to purchase my product. The only way that you’re going to get me to hire people to produce Gucci Bags is if you gave that money to the people in the shelter so they’d have the money to buy my merchandise.
.
That's exactly what's happening in America today. Corporate profits are at record highs, and the information and charts above clearly show that corporations and corporate executives are currently making more money than they've ever dreamed of in the past. So there's no reason for high unemployment. The rich are not putting that money into creating jobs; that money is going into offshore accounts, and we never see it again. That's why the rich are getting so much richer, and the middle class so much poorer.
Eric L. Wattree
.
Religious bigotry: It's not that I hate everyone who doesn't look, think, and act like me - it's just that God does.
Labels: Corporatists, Economy, GOP, Middle Class, Poor, Rich, Wattree
<< Home