The Coming Class War
Ponder this for a moment*… 53% of all stocks in the market, are owned by just 1% of American households. Couple this with a 60% decline in net worth for the middle class due to mortgaging. Then add the fact that payment for overtime no longer exists. That’s right there is no such thing as overtime. Please refer to page 15, 576 of the Federal Register. You can work over 40 hrs but you will not be paid for it. That is a grand total of 2.7 million workers losing overtime. But they probably didn’t count on overtime in their budget. Overtime is a bonus anyway. FDR must have been a little tired in those first 100 days to enact such a measure. These figures begin to solidify and like cancer the haves and have mores increase there parasitic ways. For example, here is another bit of statistical information to make your blood boil; according to the World Bank the
posted by JDAvignon at 3:34 PM
3 Comments:
How can you say America is becoming a mirror image of Saudi Arabia. That is just a bunch of ill informed garbage. I used to live there and had to cover myself from head to foot so I wouldn't offend their sick and twisted interpretation of their religion. I couldn't work because I was born without a third leg. Yes, there is a disparity in income, but there is comparison to the US. This country gives all opportunity to thrive, in Saudi Arabia only the men have that opportunity, but even at that their religion hamstrings them. The word tolerance is not in their vocabulary, if your not Muslim you are expendable and Alah will forgive the perpetrator for anything that they do to you. Wake up the real threat here is from those who would impose their brand of society on others based on their interpretation of what was written down 600 years after the death of Christ.
I use to live there to, what a country? (My family left after there compound was bombed by Al Qaeda http://www.cnn.com/2004/WORLD/meast/04/21/saudi.blast/index.html)
Also, on a side note, were you looking for work in the Kingdom because of the wonderful climate or to make money and escape the tax burden of the US?
I used the Kingdom to drive a point across. Classes in this country are been divided into clear SES sections, denying this situation does not make it less true. Please take a moment to read any of the past years (2005-2006) federal employment or energy bills. Look closely are subsides and welfare revisions, corporate welfare that is.
The founders of our country were certainly suspicous of great accumulations of wealth, which they though would foster a new aristocracy of wealth to replace the aristocracy of title they had just overthrown. The estate tax was one instrument which had been modestly successful in discouraging private accumulations of wealth. Its relabeling as the "death tax" was a brilliant piece of class warfare jujitsu--making the extremely wealthy appear as the defender of the family farmer and blue collar worker.
The gini coefficient is a statistical device used by economists to measure inequality in a society. The number ranges between 0 and 1, 0 being a perfectly equal society and 1 being a society where one person holds all the wealth and everyone else has nothing. It's worth noting that the gini coefficient of our economy has not been as high as it is now since the great depression.
The trick of our economy or any economy with great inequality is to promote two somewhat contradictory claims.
1. Get people to believe that they too will be rich some day if they are clever enough or work hard enough and play by the rules.
2. Get people to believe it's not so great being rich anyway.
Like the Boss said, "Poor man wants to be rich, rich man wants to be king, and the king ain't happy till he owns every single thing."
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