Robert Reich: The Perfect Storm That Threatens American Democracy

[marmar]

via AlterNet:




Robert Reich's Blog / By Robert Reich

The Perfect Storm That Threatens American Democracy
The top one-tenth of one percent of Americans now earn as much as the bottom 120 million of us.

October 20, 2010 |


It’s a perfect storm. And I’m not talking about the impending dangers facing Democrats. I’m talking about the dangers facing our democracy.

First, income in America is now more concentrated in fewer hands than it’s been in 80 years. Almost a quarter of total income generated in the United States is going to the top 1 percent of Americans.

The top one-tenth of one percent of Americans now earn as much as the bottom 120 million of us.

Who are these people? With the exception of a few entrepreneurs like Bill Gates, they’re top executives of big corporations and Wall Street, hedge-fund managers, and private equity managers. They include the Koch brothers, whose wealth increased by billions last year, and who are now funding tea party candidates across the nation.

Which gets us to the second part of the perfect storm. A relatively few Americans are buying our democracy as never before. And they’re doing it completely in secret. ............(more)

The complete piece is at: http://www.alternet.org/news/148558/the_perfect_storm_that_threatens_american_democracy/

[Enthusiast]

1. It's really very simple.

Middle class spenders that made up the bulk of our consumer oriented economy are no longer spending. They have little money to spend or they fear the trend of job loss will continue. Is it any wonder that consumers are not spending? The ultra wealthy have all the money.

[MedicalAdmin]

2. We KNOW where the money to fund democracy is.

We just have to go get it. With guns if necessary.