The Growing Income Gap

Plutocracy Reborn.

More on the growing income gap — and the diminishing top marginal tax rate from Business Insider.

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One Response to The Growing Income Gap

  1. Jerbigge says:

    All true. Problem is that the rich are very much aware of the situation and see no reason to return to times when they paid high taxes on their incomes. Most of the income generated by the rich comes in the form of “surplus value” extracted from those below. Karl Marx saw this clearly back in the 19th Century and it holds true today. As a former employer, I was very much aware that those who worked for me were producing “surplus value” which went into my own pocket. This is the nature of a capitalist economy however. The reason we have economic conditions like what we are now experiencing is because of free trade and lower taxes on the rich. Any American businessman understands that the road to wealth is to increase the gulf between net profit and net cost as far as you are able to do so. By laying off your well paid (unionized) workers and moving your production outside the US to where people are eager to work for a fraction of what American workers get, you can considerably improve your profit to cost ratio. That is “the road to wealth” for American business today. And there are also ways that you can reduce what you pay to the IRS through various deductions and loopholes to the point that your actual tax rate as a percentage of income is no higher than someone flipping burgers at McDonalds! And to make things even better, the Supreme Court recently decided that corporations could donate as much money as they wished to political campaign funds. Creating a situation where in reality we now “have the finest government money can buy”! It should also be noted that those founded the United States of America deliberately designed our system to “protect wealth” as much as possible. This was why in the early years of this country that only “property owners” could vote. And the term “property owners” meant those who owned businesses, not just everyone who happened to own a house. All these facts are available to anyone who cares to go to their public library and learn for themselves the truth of the matter.