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Mon Oct 1, 2012, 09:06 AM

A Plutocrat Epiphany: All Votes Need Not Count

from Too Much: A Commentary on Excess and Inequality:

A Plutocrat Epiphany: All Votes Need Not Count
September 30, 2012

America’s billionaires have realized they really don’t have to bother convincing a majority of people to vote their way. They can put their cash instead into campaigns to keep the hard-to-convince from voting.

By Sam Pizzigati

Our two major presidential candidates descended on Ohio last week, and legions of reporters followed closely behind. Those reporters filed tens of thousands of words on what they saw and heard on their quick in-and-out Ohio excursion.

But not one of those reporters filed a word about what may have been the most nationally significant news out of Ohio last week: the release of a new analysis on income inequality from the Federal Reserve Bank of Cleveland.

This new Cleveland Fed analysis examines both “labor” and “capital” income in America since 1980. Labor income includes everything we make from our jobs: wages and salaries, pensions and health insurance benefits.

Capital income comes from the ownership of assets. Interest, dividends, and the capital gains from buying and selling stocks, bonds, and other forms of property all count as capital income. .................(more)

The complete piece is at: http://toomuchonline.org/a-plutocrat-epiphany-all-votes-need-not-count/

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