Of the 1%, by the 1%, for the 1%

[L. Coyote]

Of the 1%, by the 1%, for the 1%
Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.
By Joseph E. Stiglitz•
Illustration by Stephen Doyle
May 2011 - http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105?currentPage=all


It’s no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. One response might be to celebrate ...........

[peacebird]

1. fascinating article.

[ladjf]

2. This inequity needs to be hammered into the heads of all Americans

until they fully realize to what extent they are being fleeced by the 1%. Then, and only then, will they be angry enough to turn this around. And please don't try to make the argument that this robbery can't be stopped. It most definitely can. Exactly how? I don't know. But, it can be done.
We need to get started by doubling the taxes on the super rich. That would immediately solve the
debt crises.

[mrdmk]

3. K & R, must read

[Mojeoux]

4. Do 1%ers live in Rand Paul's District? nt

[subterranean]

5. Great article. My favorite part:

"Virtually all U.S. senators, and most of the representatives in the House, are members of the top 1 percent when they arrive, are kept in office by money from the top 1 percent, and know that if they serve the top 1 percent well they will be rewarded by the top 1 percent when they leave office."

[L. Coyote]

6. Author on Democracy NOW

http://www.democracynow.org/2011/4/7/nobel_economist_joseph_stiglitz_assault_on

[hifiguy]

7. Brilliant piece

k&r

[tpsbmam]

8. I posted this article 3 days ago....as usual, it sunk like a stone.

If I'd posted it under one of the *hot* names, it would have gotten attention. But no, people are more interested in some asshole with his ass stuck to a walmart toilet seat. Yeah, I'm pissed that another one I posted today has already sunk to page 3. I'll bump it once and then I'm out for a while -- done with this crap.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x808945