Almost all the wealth generated in the puny economic recovery has gone to the top 1% of Americans.
The historic inequality of the United States continues to grow. As former Obama Administration economist Steven Rattner said, “This is social dynamite.”
Historic numbers of middle class and working families now say they no longer expect to improve their quality of life or move up the socioeconomic ladder. Many or close to most Americans no longer believe in the American Dream — or no longer believe they have a place in the American Dream.
According to Steve Rattner the top 1% making over $30 million a year got more than 30% increase. This is a non-economic recovery for all of us, but a great recovery for those at the top.
Of course, the Occupy Movement was right.
The New York Times ran an article on economic research that just proves what we all know.
One very important quote from the Times article: “the richest 10% of households own about 90% of the stock, expanding both their net worth and their incomes when they cash out or receive dividends.”
And when the RICH TAKE PROFITS FROM STOCK IT IS TAXED AT LESS THAN HALF THE RATE OF INCOME THAT COMES FROM OUR WAGES.
Clearly WEALTH DOES NOT TRICKLE DOWN. They don’t trickle on us. They piss on us.
“In a free market you’ll always see the heads of corporations making excessive pay,” said Ken Feinberg.
Just more evidence that deregulated, unfettered free market capitalism does not work for the great majority of us.
We desperately need more worker power to tame this economy to work for all of us and to prevent Congress gone mad with tea party insanity from intentionally starving our own people.
It is time we take a hard look internally, and hold our Congress to the same standards we hold the rest of the world.
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