General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRobert Reich’s sobering message for wealthy elites: You’ll soon be poor if you keep screwing over
Workers (This really goes for the Corporate shills of Both parties)
You are the captains of American industry, the titans of Wall Street, and the billionaires who for decades have been the backbone of the Republican Party.
Youve invested your millions in the GOP in order to get lower taxes, wider tax loopholes, bigger subsidies, more generous bailouts, less regulation, lengthier patents and copyrights and stronger market power allowing you to raise prices, weaker unions and bigger trade deals allowing you outsource abroad to reduce wages, easier bankruptcy for you but harder bankruptcy for homeowners and student debtors, and judges who will let you to engage in insider trading and who wont prosecute you for white-collar crimes.
All of which have made you enormously wealthy. Congratulations.
But I have some disturbing news for you. Youre paying a big price and about to pay far more.
First, as you may have noticed, most of your companies arent growing nearly as fast as they did before the Great Recession. Your sales are sputtering, and your stock prices are fragile.
http://www.rawstory.com/2016/02/robert-reichs-sobering-message-for-wealthy-elites-youll-soon-be-poor-if-you-keep-screwing-over-workers/
closeupready
(29,503 posts)Thus, in the minds of many of those at the top, it holds no lessons or value from which to learn how to avoid the fiscal mistakes made by every society which came before our society.
(Relatedly, what you will also find in societies which experience growth in wealth inequality is the rise of organized crime and black markets, though what form that takes is unique to each society or social sub-group. Though that's not a problem exactly parallel to what Reich is talking about here.)
HughBeaumont
(24,461 posts)They'll be on their islands with their fortunes if they're not dragged out into the streets first.
They own the police and the military. They could give a flying toss what their hoi polloi thinks.
HughBeaumont
(24,461 posts)Of course, the people that need to read this won't.
CrispyQ
(36,446 posts)You follow me? Youve hoisted yourself on your own petard.
WillyT
(72,631 posts)HughBeaumont
(24,461 posts)In fact, some people here need to read this.