Wednesday, July 22, 2009

I haven't posted in some time, but I saw a news article today that covers many issues (and facts) that are important to me.

WSJ: Concentration of Wealth at the Top is Draining Social Security

Well, gee. Is this a bug - or a feature? Who could ever have predicted that concentrating all the wealth at the top and exempting them from increased Social Security taxes would lead to a decrease in the Social Security trust fund?



You may hear conservatives argue that we are "soaking the rich" by increasing marginal taxes for those making high salaries (over $1 million) to pay for public programs like Health Care. Well, the reality is that the rich have been giving themselves huge pay raises for decades, and the top wage earners are sucking up larger and larger pieces of the pie. So of course you will hear them whine when they are asked to give some back to society. The rich are greedy, plain and simple. They have alot, but they always want more. Wealth disparity is the great undiscussed problem in this country. It created the Great Depression - the top 1% had 90% of the wages and wealth during the "roaring" 1920's and we know what happpened then. Income distribution spread out during the 1950's and 1960's when the middle class expanded and flourished. Well, we are back to the 1920's again. The middle class is disappearing and we are going back to the two class system - rich and poor.

No comments:

Post a Comment