Moral Outrage
Whew! God help us!

What Class War in America Looks Like

The wealthiest 5% of Americans control 72% of America’s financial wealth. The bottom 80% control only 7% of the nation’s financial wealth.

The richest 400 Americans have more combined wealth than the poorer HALF of all Americans. That means 400 people have more wealth than 150,000,000 people combined.

Nearly 80% of all economic gains made in the past thirty years have gone to the richest 1%. In the 1970s, the average CEO made 30 times what an hourly worker made. Today, a CEO makes 300 times what an hourly worker makes.

If you were among the beneficiaries of this trend, if you had more financial wealth than 375,000 of your fellow citizens combined, if you made 300 times what one of your hard-working, middle class employees made, and if you saw the everyday struggle that middle-class and working class families go through, and if you were a humane, reasonable human being, your heart would go out to them. You could conclude that it was time to share the wealth.

But instead, the strategy of the wealthy is:
First, pass massive tax cuts that primarily benefit large corporations and wealthy individuals.
Second, use the resulting loss of revenue to declare a “financial crisis” and begin making massive cuts to state and federal budgets.
Third, undermine the ability of middle and working class people to fight back by taking away their rights to collective bargaining and by selling off the institutions of a democratic state.

When you see this pattern repeated in state after state across the country, when you see this same pattern reflected at the federal level, when you see it happening again and again you cannot escape the conclusion that it is a national, coordinated strategy to further enrich the wealthiest 2% at the expense of everyone else.

[Full story at Daily Kos]


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