Sep 13, 2010
We can measure it statistically: in 1979, the wealthiest one% of the population got 10% of all the income in this country. By 2007, 24% – almost one quarter of the country’s income was grabbed by this same tiny part of the population, the capitalist class and their close allies.
This is the picture of the increased exploitation of those who do the actual work.
We can measure it by the deterioration in our everyday lives: by the loss of value in our houses – or even the loss of our homes; by the reduction in what we have to spend on school clothes for our kids this year; by the vacations we didn’t take; by the fact our elders’ income has them scraping at the end of every month.
If this is not bad enough, tax law changes over the past 30 years have screwed us too. The laws passed by Democrats and Republicans alike helped their wealthy friends pay much lower taxes, lower in% than anything since income taxes began.
The top one%, these few households, has saved on average $300,000 per year in federal taxes on income.
If we want to know why our pockets feel pinched, these tax and income policies are the reason. If we wonder what happened to all the billions of dollars needed for education or health care, it went to the wealthy.
Let them collect the money needed to run the society from those who have too much! That debt is way overdue.