Our Senate and Congress that listened to their Lobbyists and relaxed the Banking Regulations, and which killed the 80%, and higher, Upper-Tax Brackets, [which limited the amount of money any one person or one organization could steal] were as guilty of Democratic Malfeasance, and of depriving America of the bill;ions of dollars as was the sleaze-bags who, took the bonus.
Obviously there were many other people of despicable character, who aided, abetted, and profited from this fraudulent transaction: And this is only one sleazy deal. There have been literally millions of others, which have stolen millions by similar orchestrated thievery. And the millions of unearned dollars taken by the millions of conniving, greedy, Autocrats equals not only many billions of dollars; but Our US Treasury, over the last half-century, has been cheated, via this Legislative Malfeasance, out of trillions of dollars.
Contrarily to the steady stream of political brain-wash, which is constantly spewed out over the air, neither cutting taxes for the wealthy, nor deregulating Banks, nor deregulating other Mega Businesses, has ever made a dimple in the unemployment rate, in the short, or in the long term.
In the long term, these Legislative Errors in judgment, bare most of the responsibly for America’s drift into mediocrity. America has been brought to her knees, has been robbed of her Wealth, Financial Health, by Our Legislators; which sold their souls for Pac-Money, and rigged the Income Tax code to favor the High and Mighty, and deregulated the Banking Industry until the greedy had free access, to just take what they wanted. And Greed knows no limits: They wanted it all.
Now with America deeply in debt, and running a huge monthly deficit, the Psychopathic World’s Wealthiest, in search of a few more dollars, have ordered their Obliged Legislators to cut Social Security, cut Medicare, and cut School Aide drastically. Also the number of police and firemen on the streets, school lunches, and food stamps, among a host of other safety net features, are being trimmed. Of course America’s top money makers will all get another huge raise.
On average, in 2010, according to the AFL-CIO analysis of 299 companies, in the S&P 500 Index; the CEO’s of major companies received an average of 11.4 million dollars each last year. The 299 CEO’s combined pay amounted to a shocking $3.4 billion dollars, enough to support 102,325 jobs paying the median wages for all workers.
The following, is the first part of an article written by the National Public Radio Staff, and copied from the net at: http://www.npr.org/2011/07/10/137744694/
Income Gap Balloons, Is It Holding Back Growth?
By the NPR Staff
Members of the Federal Reserve Board of Governors tend to speak cautiously: Their words can move markets. Yet last month, Fed Governor Sarah Bloom Raskin was remarkably candid about the growing gap between America's rich and poor.
“This inequality is destabilizing and undermines the ability of the economy to grow sustainably and efficiently," She said; “Income inequality,” she continued, is anathema to the social progress that is part and parcel of such growth."
The income gap in the United States has ballooned: It's wider than any time since 1928, in the days before the stock market crash triggered the Great Depression. The numbers are startling: Top CEO’s salaries were up 23 percent last year, according to the New York Times; the average worker's pay was up only .5 percent.
Meanwhile, the top 0.1 percent of American earners now take in more than 10 percent of the nation's collective income. That puts the U.S. in the same inequality ballpark as developing countries like Cameroon and Ivory Coast.
This degree of income inequality has produced plenty of outrage - most of it about the moral implications of the gap. The idea that people make the same or less today than they made 40 years ago is a stunning historical fact.
Obviously there were many other people of despicable character, who aided, abetted, and profited from this fraudulent transaction: And this is only one sleazy deal. There have been literally millions of others, which have stolen millions by similar orchestrated thievery. And the millions of unearned dollars taken by the millions of conniving, greedy, Autocrats equals not only many billions of dollars; but Our US Treasury, over the last half-century, has been cheated, via this Legislative Malfeasance, out of trillions of dollars.
Contrarily to the steady stream of political brain-wash, which is constantly spewed out over the air, neither cutting taxes for the wealthy, nor deregulating Banks, nor deregulating other Mega Businesses, has ever made a dimple in the unemployment rate, in the short, or in the long term.
In the long term, these Legislative Errors in judgment, bare most of the responsibly for America’s drift into mediocrity. America has been brought to her knees, has been robbed of her Wealth, Financial Health, by Our Legislators; which sold their souls for Pac-Money, and rigged the Income Tax code to favor the High and Mighty, and deregulated the Banking Industry until the greedy had free access, to just take what they wanted. And Greed knows no limits: They wanted it all.
Now with America deeply in debt, and running a huge monthly deficit, the Psychopathic World’s Wealthiest, in search of a few more dollars, have ordered their Obliged Legislators to cut Social Security, cut Medicare, and cut School Aide drastically. Also the number of police and firemen on the streets, school lunches, and food stamps, among a host of other safety net features, are being trimmed. Of course America’s top money makers will all get another huge raise.
On average, in 2010, according to the AFL-CIO analysis of 299 companies, in the S&P 500 Index; the CEO’s of major companies received an average of 11.4 million dollars each last year. The 299 CEO’s combined pay amounted to a shocking $3.4 billion dollars, enough to support 102,325 jobs paying the median wages for all workers.
The following, is the first part of an article written by the National Public Radio Staff, and copied from the net at: http://www.npr.org/2011/07/10/137744694/
Income Gap Balloons, Is It Holding Back Growth?
By the NPR Staff
Members of the Federal Reserve Board of Governors tend to speak cautiously: Their words can move markets. Yet last month, Fed Governor Sarah Bloom Raskin was remarkably candid about the growing gap between America's rich and poor.
“This inequality is destabilizing and undermines the ability of the economy to grow sustainably and efficiently," She said; “Income inequality,” she continued, is anathema to the social progress that is part and parcel of such growth."
The income gap in the United States has ballooned: It's wider than any time since 1928, in the days before the stock market crash triggered the Great Depression. The numbers are startling: Top CEO’s salaries were up 23 percent last year, according to the New York Times; the average worker's pay was up only .5 percent.
Meanwhile, the top 0.1 percent of American earners now take in more than 10 percent of the nation's collective income. That puts the U.S. in the same inequality ballpark as developing countries like Cameroon and Ivory Coast.
This degree of income inequality has produced plenty of outrage - most of it about the moral implications of the gap. The idea that people make the same or less today than they made 40 years ago is a stunning historical fact.
But is income inequality putting the brakes on the stalling economy? And how did the gap between the wealthy and the middle class get so big?
The noted capitalist, Henry Ford, once gave his employees an unsolicited raise. When asked why? He asks; "If I don't give them a raise, who will buy my cars?"
Obviously modern CEO's and Boards of Directors and Our Legislators in Washington, are oblivious to the logic of the genius' statement. If people do not have money, they cannot buy goods and services. One way under current law is to tax the money and use the revenue for public works. That will employ many that will put the earnings into circulation. Curiously, as Ford noted, that will contribute to the wealth of the people taxed!
Again I ask: Please read their whole article. But the question: Is income inequality causing, or contributing to America’s slide into mediocrity? Can easily be answered; with a definite: “Yes.”
Exactly what is causing the ever widening gap between the Psychopathic Rich, and America’s struggling Middle Class, has been addressed: Legislative Malfeasance has skewed our Income Tax System and given the Ultra Rich a license to steal; while it robs the middle class of their fair share.
