REDISTRIBUTION OF WEALTH IN AMERICA

A constant refrain of the Republican party is that liberals are redistributing the wealth of America by giving too much to the poor while damaging the interests of wealthy folk. One can not watch Fox News without encountering the famous argument that America is witnessing a serious assault on the wealthy people of this nation by lazy, union led liberals. Ironically, the same argument was used in the early 1900s, and during the Depression. Of course, for Republicans along came St. Ronald who ended this class war and halted redistribution of the wealth. Let us examine the record:

1. Ronald Reagan inherited a national debt of about $3 Trillion and left office with a national debt close to $5 Trillion.
2. When St. Ron assumed office, the top 1% of Americans obtained 10 percent of the wealth.
3. When Barack Obama assumed office, the top 1% of Americans obtained 22.4 % of the wealth.

In other words, there has been a massive redistribution of wealth from the middle class to the upper class. Today, the top 20% of Americans control 80% of all wealth in the country. The middle class today is worse off than it was in 1980 when St. Ron took office. A central question for this nation is whether the current distribution of wealth will allow us to have a vibrant economy producing middle class jobs and enabling middle class people to purchase homes and have a comfortable retirement.

Naturally, lost in this distribution process is what happens to the poor. Frankly, they are screwed and this nation will not do anything to makes their lives ones marked by respect for their dignity as humans.

Will Americans ever wake up to losing their nation to the wealthy?

  • http://dld.bz/VDfy 4granted

    Great insights! Christian activist Jim Wallis writes about this very topic in his book, Rediscovering Values: “This deliberate and carefully calculated redistribution of wealth from the middle and the bottom to the top is perhaps the most important social change in America over the last several decades, but it is one that has gotten very little attention…media pundits have even made the R word—‘redistribution’—a bad word that no ‘responsible’ person is allowed to say out loud…And yet, redistribution is exactly what the most wealthy and their political representatives have accomplished—redistribution to them, with little attention and even less accountability.” Wallis offers not only a look at how the recession happened but how we can turn things around. Here’s the amazon link: http://dld.bz/VDfy

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  • http://www.theimpudentobserver.com Fred Stopsky

    Warren Buffet, the 2nd wealthiest American came out today for raising taxes on those making more than one million dollars. It is termed–fairness. During WWII, the top rate for taxes was 70% because President Roosevelt did not believe one should make money during a crisis. The same applies today.

  • http://twitter.com/BC00000 BC

    Title IV-D Federal incentive program: violation of human rights (against children), redistribution of assets, “fraud waste & abuse” in local, state, and federal government, family court system corruption destroying the lives of children & the “family unit” laryholland@sbcglobal.net

  • http://twitter.com/BC00000 BC

    Title IV-D Federal incentive program: violation of human rights (against children), redistribution of assets, “fraud waste & abuse” in local, state, and federal government, family court system corruption destroying the lives of children & the “family unit” laryholland@sbcglobal.net

  • http://twitter.com/BC00000 BC

    Title IV-D Federal incentive program: violation of human rights (against children), redistribution of assets, “fraud waste & abuse” in local, state, and federal government, family court system corruption destroying the lives of children & the “family unit” laryholland@sbcglobal.net

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