The Redistribution of Wealth (Steal From the Poor, Give to the Rich)

[inna]

Steal From the Poor, Give to the Rich
The Redistribution of Wealth


The United States is undergoing a great redistribution of wealth from the poor to the rich. President Obama and the Congress have done nothing to alter this trend. Despite the corporate media’s obsession with the alleged differences between the Democrats and the Republicans, this transfer of wealth has increased in both size and speed regardless of the party in power. The number of poor people has steadily increased and their loss of income has made their situation increasingly desperate.

In September of this year, the U.S. Congress Joint Economic Committee released a report called Income Inequality and the Great Recession. A statement from that report summarizes the problem. “Over the past three decades, income inequality has grown dramatically.…” Most of this inequality was observable in “…the share of total income accrued by the richest 1 percent of households. Between 1980 and 2008, their share rose from 10.0 percent to 21.0 percent, making the United States as one of the most unequal countries in the world.”

The report also states that “Income inequality peaked prior to the United States’ two most severe economic crises—the Great Depression and the Great Recession.” If you want the rich to steal from the poor at a faster rate, join whatever political outfit seems most likely to promote economic disasters. At present, when comparing the two major parties, I see little difference between their respective abilities to promote economic crises at a rate satisfactory to the corporate plutocrats who rule our lives.

more: http://www.counterpunch.org/irelan09272010.html

[Cresent City Kid]

1. The only difference between the parties on this is the rhetoric

The only real action taken in recent memory was a modest increase in the top tax rate during the Clinton years. This didn't approach undoing the Reagan cuts, but the economy improved. Even this half-assed attempt to bring wealth distribution in the direction of fairness got the republicans screaming bloody murder. They could't wait to reverse it in 2001 with the help of some Democrats.

I am astounded by the faulty logic swallowed by so much of our voting public. If the Bush tax cuts are extended, where is the benefit? All we'll get is more of what we have now, we're 10 years in with no benefit for anyone but the rich. If the money that would be taxed from the rich kills jobs, then what about their salaries?

Understanding republicans on this issue is easy. Their plan has two parts: 1. Help the rich. 2. repeat.

The Democrats are a mixed bag. Some say the right things, some fight the good fight while others stall progress. I don't understand how things don't get done with what we had in place. By failing to aim the public outrage at the rich where it rightly belonged, the Democrats find this outrage pointed squarely at them with an election pending. With the White House and Congress and the task at hand clearly laid out, the Democrats have buggered the whole thing up. The economic crash had the gop's fingerprints all over it, but by letting it linger, the Dems have added their own. On the issue of the Bush tax cuts, they can't even get a vote before the election, their last chance of turning things around for themselves and the country. The broader issue of income distribution in general will continue in the same direction with these two parties to chose from.

[inna]

2. I am astounded by the faulty logic swallowed by (nearly ALL of) our voting public.

It really doesn't take a rocket scientist to figure out that there has been deliberate redistribution of wealth (from bottom to top) for decades (at least 30 years), and that the ruling class has been getting more and more rapacious.

What will it take to stop this process?

[closeupready]

6. Probably civil unrest/disobedience.

n/t

[leftstreet]

3. K&R

[ladjf]

4. It's the "American Way". (The rest of the World as well.) nt

[ladjf]

5. Either this practice is effectively dealt with or it's all over for us. nt