Rich v. Everyone Else or Economic Terrorism
By Christopher R Rice (from around the web)
As the administration and Congress argue over cuts in social programs, inequality in America grows more extreme each day. Even the great financial crash didn’t derail this trend. The richest 400 Americans, for example, increased their wealth by 54 percent between 2005 and 2010, while the median middle-class family saw its wealth decline by 35 percent.
It’s not the result of mysterious global forces, or technology, or China, or structural problems concerning the skills and education of our workforce. Rather, it is the direct result of policy choices made by Democrats and Republicans alike.
The U.S. policy (includes tax policy, financial deregulation, trade policy, anti-labor policy, and much more.) for the past 30 years has been aggressively dedicated to shifting income share away from the poor and middle class and into the pockets of the already rich.
We've allowed our country to be taken from us, for the benefit of the few and the total decimation of the vast many.
THE END OF THE MIDDLE-CLASS
During the short boom of the late 1990s, conservative analysts asserted that, yes, the gap between rich and poor was growing, but that incomes for the poor were still increasing over previous levels.
Today most economists, regardless of their political persuasion, agree that the data over the last 25 to 30 years is unequivocal. The top 5 percent is capturing an increasingly greater portion of the pie while the bottom 95 percent is clearly losing ground, and the highly touted American middle class is fast disappearing.
According to economic journalist, David Cay Johnston, author of "Perfectly Legal," this trend is not the result of some naturally occurring, social Darwinist "survival of the fittest." It is the product of legislative policies carefully crafted and lobbied for by corporations and the super-rich over the past 25 years. New tax shelters in the 1980s shifted the tax burden off capital and onto labor.
As tax shelters rose, the amount of federal revenue coming from corporations fell (from 35 percent during the Eisenhower years to 10 percent in 2002). During the deregulation wave of the '80s and the '90s, members of Congress passed legislation (often without reading it) that deregulated much of the financial industry.
THE EMERGING POLICE STATE
We have entered, at the end of the industrial age, a phase of growth where we must incarcerate an ever-expanding number of people to sustain the growth of all the companies profiting from law enforcement, crime, imprisonment and war. And the overheated stock market must grow or collapse. The reason this nation spends five dollars on prisons for every one dollar on higher education – even after seven straight years of falling crime rates – is because there is more profit in it in the current economic model.
Hell, we have turned police departments into profit making entities through asset forfeiture. This is insane! This economic model is patently no more sustainable than a snake eating its own tail can be considered nourishment.
New enforcement programs involving HUD and the Department of Justice- along with their corresponding butchery of the Constitution – show an emerging police state already. The conduct of Congress and the White House and the CIA further demonstrate the arrogance, and the ever-increasing sloppiness of a system out of control.
The veneer, the illusion that we live under the rule of law cracks before our eyes, grows thinner and ever more difficult to sell with each passing minute.
THE RICH EAT THE POOR
As rich countries, strip poorer countries of their natural resources in an attempt to re-stabilize their own, the people of poor countries become increasingly desperate. This deteriorating situation, besides pressuring rich countries to allow increased immigration, further exacerbates already stretched political tensions and threatens global political and economic security.
UN economists blame "free-trade" practices and the neo-liberal policies of international lending institutions like the IMF and WTO, and the industrialized countries that lead them, for much of the damage caused to Third World countries over the past 20 years. Many of these policies are now being implemented in the U.S., allowing for an acceleration of wealth consolidation.
And even the IMF has issued a report warning the U.S. about the consequences for its appetite for excess and overspending. In developing countries, the concentration of key industries profitable to foreign investors requires that people move to cities while forced privatization of public services strip them of the ability to become stable or move up financially once they arrive.
The U.S. was the largest creditor in the world. Now the debt is in the trillions of dollars. Trillions of dollars transferred from the worlds richest & most powerful country. This is a form of destructive economic management at a level of graft & corruption that has NO parallel. There’s nothing comparable to that in history.
HOW MUCH DO WE REALLY OWE
So far, I have been talking about funded debt. Unfunded debt is $127 trillion at current levels…and rising hourly. This is the debt that we owe to ourselves in the way of Medicare, Social Security, government retirements and so on. In other words, promises that can’t be kept and so they won’t. As a reminder, the unfunded debt is greater than the total wealth of all American households. Many people want to blame one administration or another because that’s easy. It isn’t true, it's not any one administration, the system isn't broke, it's rigged.
The bailouts resurrected high finance and the inequality it inevitably spawns. Instead of putting our foot back on the neck of finance, we’re talking about slashing social programs. Rather than dramatically increasing taxes on the super-rich through a wealth tax, we’re debating how to slash Social Security and Medicare benefits.
During an era in which the rich were getting richer anyway, we deliberately set out to reduce their tax burdens so that they could become even richer.
• In 2010, the top hedge fund manager earned as much in one HOUR as the average (median) family earned in 47 YEARS.
• The top 25 hedge fund managers in 2010 earned as much as 658,000 entry level teachers.
• In 1970 the top 100 CEOs made $40 for every dollar earned by the average worker. By 2006, the CEOs received $1,723 for every worker dollar.
As Citizens for Tax Justice and USPIRG reported, 280 large and profitable corporations contributed $216 million to Congressional campaigns over four election cycles and got nearly a quarter of a trillion dollars in tax breaks.
That’s a terrific investment for them – a return of more than a thousand to one – but it’s a bad deal for the American people.
The official, or “statutory,” corporate tax rate is 35 percent. But the actual rate paid by American corporations is only 12 percent, less than that paid by many middle-class Americans.
In fact, US Corporations pay less tax as a percentage of the GDP than corporations in Canada. Or Japan, South Korea, Norway, Luxembourg, New Zealand, Israel, the Czech Republic, Sweden, Belgium, Switzerland, the United Kingdom, Denmark, Finland, and Italy.
(Source: OECD StatsExtract interactive database.)
The 1% own most of the wealth and each year they own more. And many Americans view the poor as being poor because they didn't work hard enough or weren't smart enough to not be poor. Our tax system gives the rich an unfair advantage in not paying their fair share of taxes and corporations often pay NO TAX.
Soon the rich will literally own everything. They will own us, our families and our children's children.
They already own our politicians and our political system. The rich have forced us into debt while shipping our jobs overseas. Now we have an emerging police state and a federal government that is completely out-of-control.
It doesn't matter if you're a conservative or a progressive or anything else. Unless we put aside our differences and start fighting back, the American dream will be dead.
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On this site:
The Super Rich (Economic Terrorist)
Related: (click link)
EDITORS NOTE: To all police (LE) priest (churches) and hypocrites (snitches): This is my mind and my body, not yours. I will get high and fornicate as much as I want. You should just go back to stuffing your stupid faces with doughnuts and leave the rest of us alone. Why don't you get a real job and stop sucking on the public tit? Try working for a living like the rest of us, you lazy worthless bastards!
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Should We Trust Police Officers?
Are police officers allowed to lie to you? Yes the Supreme Court has ruled that police officers can lie to the American people. Police officers are trained at lying, twisting words and being manipulative. Police officers and other law enforcement agents are very skilled at getting information from people. So don’t try to “out smart” a police officer and don’t try being a “smooth talker” because you will lose! If you can keep your mouth shut, you just might come out ahead more than you expected. Related article: 46,000+ American citizens are currently serving time for crimes that they did not commit
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Wake Up or The Cult of Personality
By Christopher R Rice
Hi, back in 2007 an unknown Senator from Chicago claimed that all of his campaign contributions came from "small individual donors." Which was a complete and total lie, but people still repeat it today as if it were fact. I reported back in 2007 that Obama's major contributors included Goldman Sachs and every other Wall Street firm. I didn't leak some deep, dark secret, I merely reported what OpenSecrets.com publishes all the time. By law, politicians must release this information. Obama's idea of change turned out to be to maintain the status quo. And promote everyone from the previous administration from Ruben to Petraeus. Wow that's some kind of change. I was shocked and horrified that my fellow country men were so easily duped. Not only did Obama fail to get us out of Afghanistan but we're now back in Iraq and if that's not bad enough we're in Libya and Syria too. Had Bush pulled this same BS all hell would've broke loose. But let a democrat bomb women and children and there's not even a peep from the population.
Fast forward to 2016 and we now have a rich cock sucker making the same empty promises to the Republican base. Same acceptance speech Michelle gave, same I'm not the establishment candidate, same small donor BS and again my fellow Americans are just gullible enough to believe it all over again. But the Super rich do not give two flips about the working man. Rich people use or should I say abuse our court system to avoid paying their own workers. They certainly do not care about you and your family. They shut down American businesses and move them overseas, for greed. Just like you can't spend your way out of debt, voting for one corrupt party or the other corrupt party has only ensured the continuation of corruption.
I wish that it was different but Obama and Trump are nothing more than con men. To believe otherwise is to be gullible, naïve and ignorant. Wake up, no one will come along and save us. Now one will wave a magic wand and change everything or make America great again. I wish it was otherwise, because my fellow Americans are obviously not up to the task at hand. Which means we are doomed and we might as well bend over and kiss our asses goodbye.
Realted article: Obama IS a War Criminal