Plutocracy Reborn

[tex-wyo-dem]

The first two charts, the income gap from 1917 - present as compared to the top marginal tax rate, were published in The Nation almost a year ago. The third one is of the national debt vs. GDP since the beginning of WWII and the fourth is household savings vs. debt since 1982.

Notice how these charts track each other.

As they say, a picture is worth a thousand words...and what this picture says is obvious.



http://www.thenation.com/doc/20080630/extreme_inequality

[WCGreen]

1. I firmly believe the Reagan big lie is perpetuated by the News

readers on Cable who are knocking on the door of that top brackett and don't want their taxes to go up...

[tex-wyo-dem]

2. Yes, particularly when with "News" organizations are one in the same with...

those who profit from war and our treasury (i.e. Wall Street, etc.).

Question is, where are we heading?

Published on Tuesday, February 1, 2005 by CommonDreams.org
Nobles Need Not Pay Taxes
by Thom Hartmann

A new aristocracy is taking over not just the United States of America but also the world...

<...>

Whether the power and wealth agent that takes the place of government is a local baron, lord, king, or corporation, if it has greater power in the lives of individuals than does a representative government, the culture has dissolved into feudalism.

Bluntly, Bloch states: “The feudal system meant the rigorous economic subjection of a host of humble folk to a few powerful men.”

This doesn’t mean the end of government, but, instead the subordination of government to the interests of the feudal lords. Interestingly, even in Feudal Europe, Bloch points out, “The concept of the State never absolutely disappeared, and where it retained the most vitality men continued to call themselves ‘free’…”

The transition from a governmental society to a feudal one is marked by the rapid accumulation of power and wealth in a few hands, with a corresponding reduction in the power and responsibilities of governments that represent the people.

<more: http://www.commondreams.org/views05/0201-23.htm>

[WCGreen]

14. It's pretty mych how I feel...

[tex-wyo-dem]

3. ...

Published on Wednesday, March 18, 2009 by CommonDreams.org
How To Destroy the Government in Three Easy Steps
by Joe Brewer

In eight short years, conservatives have effectively bankrupted many state governments and left the fed in shambles. And now citizens have to "make tough decisions" and share the suffering equally across the land (unless of course, you're part of that lucky 1% who co-opted the functions of government to serve their own ends... they'll be cozy with their offshore bank accounts, golden parachutes, and permanent tax holidays).

Are you a teacher who educates our future citizens? Too bad. You've got to tighten your belt and let that job go. Manual laborer? Sorry but that job can earn more money for our shareholders if its done in Micronesia. Need a college degree? Prepare for indentured servitude because you'll be working to pay us off for most of your adult life. Health care? Ha! That's just a ponzi scheme dreamed up by a bunch of socialists.

Ever wonder how conservatives did all this?

Well here's your very own how-to manual for getting Big Government out of the way so you and your buddies can horde all the wealth to yourselves and build your empire.

<...>

Step 1: Blame the Individuals

<...>

Step 2: Cut Taxes

<...>

Step 3: Exploit Disaster

<more: http://www.commondreams.org/view/2009/03/18>

[starroute]

4. So 'redistribution' is essential to stabilize the system

That's the one lesson even the business types (the saner ones) might be prepared to hear.

Redistribution is not about socialism. It's not about soaking the hard-working wealth-producers to coddle the lazy poor. It's about keeping the whole bloody capitalist system from destabilizing and crashing into ruins.

Let's hope somebody gets the message.

[leftchick]

8. yes it is the answer

that and regulation of all aspects of the financial sector. Will it happen before we crash and burn? As of today, highly unlikely.

[ShortnFiery]

9. They haven't yet. The money is still be sent UP the ladder instead of DOWN to the people.

:(

[rhett o rick]

16. Maybe you haven't noticed, it crashed. nm

[inna]

5. K&R! the first chart is TRULY striking. talk about "EXTREME" inequality...

the national debt one doesn't look TOO bad, surprisingly.

thanks for posting these, it's realy educational.

[Deja Q]

6. top 0.01%? How about the top 1%?

Who's at the top 0.01%? Apart from Gates, Buffett. and one or two others?

[Deja Q]

7. K&R

Nice chart on the GDP vs debt ratio. Statistically speaking, it is NOT gloom and doom... just yet.

[killbotfactory]

10. It's not the system! It's all just a bunch of personal failures!

People wouldn't be so broke or with so much debt if they just worked harder or some other bullcrap.

[n2doc]

11. The real story- bottom 90% income goes down, top 0.01% goes up 5X

from Reagan to Bush II. And Clinton is right there in that time period.

[Pale Blue Dot]

12. K&R because the Geithner/Obama plan announced today makes this much, much worse. nt

[tex-wyo-dem]

13. That is what I worry about....

As Krugman put it, they are treating it as if the system is fundamentally sound...that we just need to get back to the status quo, where in reality the system is teetering and needs a complete overhaul.

[tex-wyo-dem]

15. An interesting chart on the marginal tax rates since 1913...

As you can see (with the exception of three years between 1987 and 1992) the top rate is currently at its lowest level since before the Great Depression. In the 1950s, for every dollar earned over $400K one would pay a whopping 90%+ in tax! Kind of makes the crying about allowing the chimp's tax reductions for the rich to expire ring hollow.

http://en.wikipedia.org/wiki/Income_tax_in_the_United_States

[lostnfound]

17. Another series of charts published at DU 2 years ago on similar subject

Includes tax burden information as well.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=358x4527