There are 44 New Billionaires
in the US, bringing the total to 374 Americans with a Billion Dollars
or more. There are 37
Million Americans living "below the poverty level".
The official Poverty rate in the US has increased for the last for Consecutive
Years as has the number of Billionaires. Almost 400 Billionaires, while there
are still 750,000 homeless in the US, 250,000 of them Veterans... why won’t
the politicians address this glaring atrocity?
Forbes on the
Given the editorialists’ recurring objections to George Bush’s
tax cuts, their implication here was clear: The Bush Administration has been
especially awful in creating inequality. That implication is wrong. The reality
is that measured inequality has been rising steadily for close to 30 years
and hit successive new highs in the Carter, Reagan, elder Bush and Clinton
administrations before doing the exact same thing under the younger Bush.
I agree, it’s not just Dubya, it’s been going on for a long time.
There was a huge wealth gap 30 yrs ago, and now it’s wider than ever. The
NAFTA/WTO Free Trade (tax-free "out-sourcing") screwed millions of Americans
just to make the billionaires richer. Millions are suffering while a few are living
high on the hog.
The driving force behind income inequality has been meritocracy, i.e., workers
get what they’re worth.
Anybody else have a problem with that? Did Bill Gates really work so hard as
to accumulate the wealth of 50,000 millionaires? What if a married couple works
full-time for 50 years, but still have to sell their house to pay the doctor
bills (old age hits everyone)... are they really worth nothing?
How about a working class family whose principal wage-earner is laid off thanks
to out-sourcing. The Bank forecloses on their house and the family is left sleeping
in a shelter... did they "get what they earned"?
The average CEO now takes home a paycheck 431
times that of their average worker. Does he really work that
Does inequality matter? One problem is that concentrations of wealth and
power pose a danger to our democratic system. The corruption of politics by
big money might explain why for the last five years the President and Congress
have been more interested in repealing the federal estate tax, paid only by
multi-millionaires, than on reinforcing levees along the Gulf Coast.
The obvious truth is that someone with wealth can use that as leverage to accumulate
ever more wealth. A billionaire can invest that money in an auto company which
has 30,000 workers making an avg of $25/hr. The workers slave away for 40 hrs/wk
while the billionaire plays golf, taking a profit from every car sold. He profits
from their labor.
What about a wealthy landowner... say some guy like Larry Silverstein owns
thousands of high rise apartments in several major cities. The little people
work full-time to give the billionaire 50% of their paycheck.
It is written in our Constitution that, "All men are created equal".
Yet according to the current US Gov’t, "Some pigs are more equal
USA: There are Still 250,000