The Beginning Of The End Ad
Gold Buying Guide: Golden Eagle Coins

Recent Posts

The Preppers Blueprint Economic Collapse Blog Get Prepared Now Ad

Enter your email to subscribe to The Economic Collapse Blog:

Delivered by FeedBurner

Will The Banksters And The Corpocracy Eventually Own It All? 29 Statistics About Extreme Income Inequality In America That Will Blow Your Mind

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

Today, average Americans have less power relative to the monolithic corporate and governmental institutions that dominate our society than at any other point in U.S. history.  Sadly, this is not what our founding fathers ever envisioned.  Our founding fathers established a government “of the people, by the people, for the people”, but what we have today is very far from that ideal.  In America today, wealth and power are very highly concentrated, and if you have neither wealth nor power than most of our politicians really do not have any interest in you.  Over the past several decades, those with huge amounts of money and power have been busy rigging the game so that the rest of the money and power slowly but surely funnels into their hands.  If current trends continue, the banksters and the corpocracy will eventually own it all.  Below you will find 29 statistics about extreme income inequality in America.  Sadly, most of these statistics will be out of date in a year or two because wealth and power will be much more concentrated by that time.

If you are a “Kool-Aid drinking Democrat” you are going to be really upset by this article.  If you are a “Kool-Aid drinking Republican” you are going to be really upset by this article.

Most Republicans have been brainwashed into believing that “capitalism” means cheerleading while the big corporations hoover up money and power.

Most Democrats have no trouble with big corporations either because most establishment Democrats have been brainwashed into believing that large concentrations of power (whether governmental or corporate) are generally good.  Most Democrats just wish that big corporations were a little less greedy and were a little more “socially responsible”.

Today, the big banks, the big corporations and the federal government are all in bed with one another and it is average Americans that always lose out.

Our founding fathers tried to warn us about large concentrations of power.  They attempted to establish a very limited central government, they wanted to keep us free from the tyranny of the big banks and they were very suspicious of large corporations.

In a 2010 article, Rick Ungar noted that corporations were very seriously restricted in the early days of America….

After the nation’s founding, corporations were, as they are today, the result of charters granted by the state. However, unlike today, they were limited in how long they were permitted to exist (typically 20 or 30 years), only permitted to deal in one commodity, they could not own shares in other corporations, and their property holdings were expressly limited to what they needed to accomplish their corporate business goals.

My how things have changed.

“Capitalism” is supposed to be about the empowerment of individuals and families and small businesses.

Instead, today “capitalism” has come to mean something completely different.  Today, the biggest, meanest concentrations of wealth devour everyone else with a big assist from the government.

At this point, average Americans mean next to nothing in the political process.  This point was eloquently made in a recent column by Robert Reich….

The unemployed are politically invisible. They don’t make major campaign donations. They don’t lobby Congress. There’s no National Association of Unemployed People.

Their ranks are filled with women who had been public employees, single mothers, minorities, young people trying to enter the labor force, and middle-aged men who have been out of work for longer than six months. You couldn’t find a collection of people with less political clout.

I would not normally quote Robert Reich, but he made a good point.  If you don’t have an army of lobbyists or any money to give to them then most of our politicians don’t really care what you think or how much you are hurting.

Just think about the amount of power and money that Exxon Mobil or Wal-Mart has compared to the amount of power and money that an average American has.

Our society has veered very far from the egalitarian ideal that our founding fathers once hoped for.

The corporate giants are so powerful that it is next to impossible for small businesses to directly compete with them.

Just try it some time.

Many banks and corporations have become so big that the world literally cannot afford for them to fail.

For example, three U.S. corporations control approximately 90% of the world’s grain trade.

So what happens if those three corporations collapse?

That is something to think about.

But of course average Americans are never “too big to fail”.  The big banks begged and begged for bailouts, but if you are late on your debt payments they will chuck you into prison.

Also, when wealth and power are so highly concentrated, economic rewards flow only to a few.  Corporatism (as opposed to true capitalism) produces a handful of winners and a whole lot of losers.

As I have written about previously, the middle class is being destroyed.  If current trends are allowed to continue long enough we eventually won’t have much of a middle class left at all.

The following are 29 statistics about extreme income inequality in America that will blow your mind….

#1 In the United States today, the richest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

#2 The wealthiest 1% of all Americans now own more than a third of all the wealth in the United States.

#3 The wealthiest 1% of all Americans own over 50% of all the stocks and bonds.

#4 The poorest 50% of all Americans collectively own just 2.5% of all the wealth in the United States.

#5 According to a joint House and Senate report entitled “Income Inequality and the Great Recession“, the top one percent of income earners in the United States brought in a total of 10.0 percent of all income income in 1980, but by the time 2008 had rolled around that figure had skyrocketed to 21.0 percent.

#6 Between 1979 and and 2007, the average household income of the top 1% of all Americans soared from $346,600 to $1.3 million.  During that same time period the average household income for middle class Americans increased only slightly.

#7 According to Harvard Magazine, 66% of the income growth between 2001 and 2007 went to the top 1% of all Americans.

#8 More than 3 billion people, close to half the world’s population, live on less than 2 dollar a day.

#9 According to a new report from the AFL-CIO, the average CEO made 343 times more money than the average American did last year.

#10 The number of “low income jobs” in the U.S. has risen steadily over the past 30 years and they now account for 41 percent of all jobs in the United States.

#11 Since 1979, real median weekly earnings for high school dropouts has declined by 22 percent.

#12 During this economic downturn, employee compensation in the United States has been the lowest that it has been relative to gross domestic product in over 50 years.

#13 Half of all American workers now earn $505 or less per week.

#14 Since the year 2000, we have lost 10% of our middle class jobs.  In the year 2000 there were about 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.  Meanwhile, our population has gotten significantly larger.

#15 Ten years ago, the United States was ranked number one in average wealth per adult.  In 2010, the United States fell to seventh.

#16 According to one recent study, approximately 21 percent of all children in the United States were living below the poverty line in 2010. In the UK and in France that figure is well under 10 percent.

#17 Today, one out of every four American children is on food stamps.

#18 It is being projected that approximately 50 percent of all U.S. children will be on food stamps at some point in their lives before they reach the age of 18.

#19 According to Moody’s Analytics, the wealthiest 5% of households in the United States now account for approximately 37% of all consumer spending.

#20 The number of Americans that are going to food pantries and soup kitchens has increased by 46% since 2006.

#21 The U.S. poverty rate is now the third worst among the developed nations tracked by the Organization for Economic Cooperation and Development.

#22 Approximately half of all American workers make $25,000 a year or less.

#23 The wealthiest 1% of the earth’s population controls 39% of the wealth.

#24 It is estimated that over 80 percent of the world’s population lives in countries where the income gap between the rich and the poor is widening.

#25 One year after the recent financial collapse the top 25 hedge fund managers earned a total of approximately $25 billion.  That breaks down to an average of $1 billion each.

#26 Bill Gates has a net worth of somewhere in the neighborhood of 50 billion dollars.  That means that there are approximately 140 different nations that have a yearly GDP which is smaller than the amount of money Bill Gates has.

#27 It is estimated that the entire continent of Africa owns approximately 1 percent of the total wealth of the world.

#28 The top 0.01% of Americans make an average of $27,342,212.  The bottom 90% make an average of $31,244.

#29 58 percent of the members of Congress are millionaires while only about 1 percent of the general population is made up of millionaires.

So what is the solution?

Well, our liberal friends insist that the solution to all of this inequality is to tax the rich and to distribute the wealth to the poor.

Well, there are three major problems with that.

Number one, when you raise taxes too high you eliminate the incentive to work hard.

Number two, when you make it too easy to depend on government handouts you create an underclass of economic parasites.

Number three, the big corporations and the ultra-wealthy have become masters at avoiding taxation no matter what the rates are.

Before you tax the rich too much, you might want to consider the consequences of doing so.

Why should someone bust his or her rear end to run a business and make a lot of money if the government is just going to come along and take over half of all the money that is made?

Personally, if I ever get into a tax bracket where over half the money I make goes to the government then I simply will not work nearly as hard at that point.

But if that starts happening on a large scale, then you have a significant loss of economic activity which hurts the economy overall.

Already, the top 20 percent of all income earners in the United States pay approximately 86 percent of all federal income taxes.

When the government “steals from the rich” and “gives to the poor”, that also tends to create a large group of people that decides that it is easier to take from the government than it is to work for a living.

In 1980, government transfer payments accounted for just 11.7% of all income.  Today, government transfer payments account for 18.4% of all income.

That is not a good trend.

At this point, U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes.

That is not even close to sustainable, but nobody wants to give up their “government benefits”.

Today, 59 percent of all Americans receive money from the federal government in one form or another.

Yes, there will always be those that cannot help themselves and we should always have a “safety net”.

But when you look around it doesn’t take a genius to figure out that things have gotten completely and totally out of control.

Right now, an all-time record 44 million Americans are on food stamps.

Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid.

The U.S. government is even handing out billions of dollars to homeowners that are delinquent on their mortgages.

This is not a formula for long-term economic success.

When people get addicted to government checks they never want to stop.

But this is not what the poor need.

What the poor need are good jobs that pay good wages.  Unfortunately, we keep shipping millions of those jobs overseas.  So now the Chinese economy is thriving and our formerly great manufacturing cities are turning into hellholes.

Handouts do not give people hope, dignity and a future, but jobs can.

Also, as I have written about before, the big corporations and the ultra-wealthy have become masters at avoiding taxes.  There is a reason why approximately a third of all the wealth in the world is held in “offshore” tax havens.

What U.S. corporations are able to get away with is absolutely amazing.

The following figures come directly out of a report by Citizens for Tax Justice.  These are combined figures for the tax years 2008, 2009 and 2010.

During those three years, all of the corporations below made a lot of money.  Yet all of them paid net taxes that were below zero for those three years combined.

How is that possible?  Well, it turns out that instead of paying in taxes to the federal government, they were actually getting money back.

So for these corporations, their rate of taxation was actually below zero.

If you have not seen these before, you are going to have a hard time believing some of these statistics…..


Profits: $4.9 billion

Taxes: -$34 million

*Fed Ex*

Profits: $3 billion

Taxes: -$23 million

*Wells Fargo*

Profits: $49.37 billion

Taxes: -$681 million


Profits: $9.7 billion

Taxes: -$178 million


Profits: $32.5 billion

Taxes: -$951 million


Profits: $2.1 billion

Taxes -$72 million

*American Electric Power*

Profits: $5.89 billion

Taxes -$545 million

*General Electric*

Profits: $7.7 billion

Taxes: -$4.7 billion

Are you starting to get the picture?

I wish I could make $7.7 billion, pay no taxes and have the government give me $4.7 billion on top of it.

Our system has become corrupted beyond all recognition.

We need to throw out the current system of taxation and come up with something entirely new.

In fact, the truth is that for most of U.S. history there was not a federal income tax at all.  But that is a story for another day.

If you believe in the U.S. Constitution and in the republic that our founding fathers established, then the very high concentrations of wealth and power in our society today should greatly concern you.  Income inequality is not a “Democrat” or a “Republican” issue.  A vibrant, thriving middle class should be a goal all of us can embrace.

But I have a feeling a whole lot of “Democrats” and a whole lot of “Republicans” were deeply offended by this article.  Feel free to express your opinion by leaving a comment below….

  • Steve

    Of course, twenty million Mexican Proles living illegally in the Republic do tend to skew the stats a bit.

  • Ray W

    I first noticed the large corporate tactics in 1997 when a larger company tried to buy the one I worked for, My boss said no we are just fine. then the larger Co. went to our suppliers and offered kickbacks to make them the suppliers instead of us. By 1999 my boss gave in and sold after losing several main lines. The larger company kept us all on and asked for Ideas to grow thier new company, after 9 months of assimilating our ideas they came in and fired 100% of us and said they could take it from here. I got 3 weeks of severance after ten years of service. The only satisfaction was 1.5 years later they got gobbled up by an even bigger company with nearly the same results.

  • michelle

    Pretty shocking that corporations can pay no taxes, then get paid for making billions. Pretty sad that our Constitution has been shredded and used to line the bird cages of the elite…

  • “If current trends continue, the banksters and the corpocracy will eventually own it all”

    Economics professors Saez (UC Berkeley) and Piketty (Paris School of Economics) show that the percentage of wealth held by the richest 1% of Americans peaked in 1928 and 2007 – right before each crash:

    The banksters and the corpocracy have reached the end of the line. One way or another, wealth is going to be redistributed in America. Much wealth will also be destroyed which is the usual price for excessive greed.

  • the Beast

    When Corporations joined with the State, you’ll have a Fascist state like Nazi-Germany and Mussolini’s Italy.
    Alas, this type of monster has re-emerged again in America.

  • 007

    Great article. Your analysis is spot on in my opinion. Anyone that wants to tax the rich more will likely just slam the upper middle class, bankrupt more business and destroy jobs. The super rich and politically connected corporations will likely snake their way out of any tax increase without a major restructuring of our tax system. Your article failed to mention the best trick for the super rich to avoid tax, contributions their own personal foundations.

    Taxes are too high on the average small business owner. Corporations and the politically connected that pay little or no taxes should be forced to pay the same rate of tax as the small business owner. The correct solution is to close these ridiculous loopholes for these nonpaying businesses and reduce the tax rate on the average small business.

    Tax rates on the average small business owner are out of control and unsustainable. These businesses are going bankrupt and dropping like flies every day. Any tax increase that hits the small business owner in this economy will be an absolute disaster.

    Closing the unfair loopholes on the politically connected and reducing tax rates on businesses is the single best action which could help this economy.

    And speaking of people that pay no tax, over 40 percent of Americans pay no income tax and maybe it’s time for them to pay “their fair share”. Even worse, millions get a tax refund of thousands of dollars that pay no taxes whatsoever. With the state of our country’s pending bankruptcy, this refund scheme is pure insanity.

    Everyone should pay at least some tax and have some skin in the game. If taxes have to be raised everyone should share the pain. Such a tax policy would make the politicians think twice about raising taxes and enciting class warfare. Otherwise, the non payers will continue to act like Gary2 and demand higher taxes from everyone else and demand ever more government handouts.

    Reagan succeeded in a major restructuring of our tax system. He closed loopholes and lowered overall tax rates. It was not perfect because many loopholes survived. However, this tax restructure pulled us out of a terrible recession. It massively increased tax revenues and brought about the greatest economic expansion in modern history.

    Our tax system is so corrupt and inefficient it is killing small business and the economy. We need such a tax restructure again very badly. This type of tax reform would be a big first step in the right direction. I just hope it is not too late.

    • Gary2

      You need to look at all taxes and not just the income tax. All poor people pay a larger % of their income than the rich do in taxes.

      Turn off Rush and think!

      • Jonny

        Poor people pay no taxes. And I know this, because I’m one of them. I get more money back each year in refunds, than I pay in taxes during the year in all categories and forms combined.

        Last year, I netted a “profit” of over 1,000 dollars in refunds, after accounting for how much I paid in ALL taxes.

        And the more kids you have on less income, the better off you are. I know a woman with 5 kids by 4 different fathers – unmarried – who got an 8000 dollar refund. That’s the scam, and that’s why it’s a scam. Because people have figured out the system and to them, it makes sense to live this way.

  • mondobeyondo

    Time to take to the streets.
    Just like the people have done in Tunisia, and Egypt, and Libya. The corporations and the elite have done an excellent job in silencing the masses and taking control.

    There is still hope though. There are some 310 million of us, and – maybe 1 million of them, if that many. A ratio of 310:1.

    Let’s take back this country from the plutocrats. Hey Wall Street – can you hear us coming?

    (Don’t bother with the Prez or Congress. They’re working for Wall Street, not for you. Go to the source, if you wanna fix things)

    • I’m with you — but HOW is the question.

    • Jonny

      The people who take to the streets will most likely be the people clamoring for socialism. The people in the streets of Egypt and Greece are playing right into the hands of the power brokers. They are being manipulated into supporting a “proletariat revolution” by the very people they THINK they are fighting against.

      Which is exactly what the power brokers want. The anarchists in Europe? They smash windows on behalf of the bankers they work for. Why?

      Because what the international banking cabal wants is a world government run by them, on socialist principles. They like large like kings, and everybody else is a serf. And the serfs will be their private army.

  • mondobeyondo

    Oh yeah – how did this nation ever survive without a federal income tax? That tax became effective in 1913, the same year the Federal Reserve came into existence. What a coincidence!

    From 1776 until 1913, there was no federal income tax. Yet somehow, we managed to build railroads, great cities, waterways and canals, and conquer the forests and plains. All without the public contributing financially.

    And so now we need to be taxed? To pay the federal debt?! (Well, actually yes we do, and it still will not be enough. Balanced budget? Dream on.)

    Something went horribly wrong in the last 98 years. Sure, we’ve had wars before 1913. Lots of wars. Revolutionary War, Civil War, Spanish American War, War of 1812 to name a few. But we always managed to pay those off…and guess what? No income tax to pay for them!

    Even in World War Two…!! People were encouraged to buy “war bonds” to finance the war. How many war bonds did you buy today to finance our troops in Afghanistan? Oh wait, war bonds don’t exist anymore. WHAT?!?!

  • Paul

    Book recommended:
    Robert Ludlum: The Matarese Countdown
    In his book from 1997 he describes our current crisis as planned scenario.
    Quite nice.

  • Maria

    Amen! Amen! Amen!

    Do away with the tax system! The IRS and the Federal Reserve too! Get rid of all the corporate keister kissers in Congress, and take our country back…what’s left of it.

    To all the corporations who bailed out on the American workers and took our jobs overseas…good riddance you traitors! Don’t let the slamming door hit you in the keister! I hope we impose tariffs on your lousy junk and bring you to your knees.

    To all you politicians out there, I could care less how many of you are millionaires! Get off the corporate welfare ride and GROW UP! Do something worthwhile and earn your keep! Bring some dignity and integrity back into the profession. Try actually doing something honorable…like defending our Constitution! And reading a bill before you vote on it! Give us a REASON to trust you!

    Fellow Americans, are you sick of hearing how much money we owe? How we are all nothing but a bunch of dumbed-down losers?

    We’re dumb all right!

    We were dumb enough to believe for decades all those wars we paid for and fought were for honorable reasons and not the greed of elite corporations. Dumb enough to send our family members off to foreign lands to be maimed, imprisoned or killed in combat, because our country answered the the call for help. Dumb enough to donate billions to charities to help people suffering in distant lands. Dumb enough to let our government give financial aid to foreign nations in need. Dumb enough to let the Federal Reserve give money to foreign banks and corporations from our bailout!

    We’re dumb all right! We are told we have had an easy time of it, because we are the world’s reserve currency! And what an easy time it’s been! We have paid a huge price for that “privilege”! Nobody complained as long as we were sending billions of dollars in aid or fighting wars for them.

    All for what?

    Wake up America! The whole world’s economy is a farce. The debt is fake, because the currency is fake. The maga banks and corporations have stolen trillions through derivatives and other schemes. Before we pay another dime of debt, we need to hold these criminals accountable. Taking back the wealth they stole from us will pay off the debt they created in our name!

    • Jason

      Tax buys me civilization – please, continue taxing. Just tax progressively and appropriately, and get rid of these offshore scams and loopholes.

      And, yes, the crooks who are now reaping bonuses on Wall St should go to jail and hand over their ill-gotten rewards. But who is going to do that – there’s not yet been a single arrest. We’ve been had, because the government is co-opted by the financial sector.

      • Jonny

        I’m afraid you have bought into the delusion, hook line and sinker.

  • We need to take away the compulsory State apparatus that allows some people to steal from others “legitimately.”

    Private property, wealth and capital must all remain private, and the State must not be allowed to confiscate it and redistribute it for any reason.

    Freedom of association and contract must be protected by the rule of law and not restricted in any way.

    If people are worried about those in need, then charity must be kept voluntary, like it was before FDR came in and exploited the population’s vulnerability that was caused by corporate-State intrusions.

    A system of involuntary taxation, i.e. theft, is an immoral system, and will only lead to corruption, mass “inequalities” as mentioned above, and, finally, collapse of the whole system. Such a system (primarily that President Wilson put in place, including his Federal Reserve) is doomed to fail.

    Brad Spangler has this great piece out today, and I strongly recommend it:

  • A.S.

    Find a way to make the “Fair Tax” come into existence and eliminate all other taxes (not just income, but property, corporate, estate, all of them). The Fair Tax will force even the rich to pay taxes–buying goods and services. It will even force the illegals to pay taxes.

  • Bob

    I’m a republican business owner. I am becoming a democrat for the reasons in the article. I remember hating Clinton with his retroactive tax increase which cost me tens of thousands. Yet my peak earning years were during his presidency. I then remember Bush lowering the taxes. I remember thinking WHY? The middle class started to disappear and my earnings dropped. Now both parties seem hell bent on destroying us through free trade policies. Obama is still pushing for one with Korea. Are they destroying America by design and if so why?

    • Jason

      The fools have bled out the middle class in their greed – the source of our once-famous consumer-driven economy. Now Wall St can have record profits while unemployment is high because they simply no longer need US consumers to be profitable.

      We don’t have free trade, we have wage arbitrage. The race to the bottom continues. Here’s a good read:

    • Otown Right Guy

      I call BS. If you really are a “republican business owner” and you are becoming a democrat then you are both stupid and suicidal. You even admit both parties are destroying us. So why belong to either?!?!?!?!

  • Thanks for posting this information to wake ppl up. I too see the writing on the wall & it all points to a collapse. How long can the govt continue to write checks it can’t cash? How much more money can it print till the currency is worthless? I’m not sure but in light of all the facts listed here, I am getting a supply of emergency water, food, medicine, guns, ammo, seeds & the like to help stave off the collapse which IS coming. One thing to remember is to have fun & teach our children what is right, instead of teaching what our govt is doing, which is wrong.

    Take care, God bless & keep up the good work.


  • Ken

    Great article:

    I agree with a lot of your premises. Will a new tax system curb the corporations power? The elites run the world and I’m not optomistic this will come about. What I do see on the left is class warfare and “tax the rich” mantra.
    What’s the definition of rich? I’ve never been one that subscribes to wealth redistribution but I do agree that the corporations and government are corrupted and we don’t have pure capitalism anymore. Tax the rich ultimately falls on the middle class and the elites skate free. I’d like to see the IRS and FED abolished and a “fair” tax. I don’t see a way out of our financial mess and I hear a lot of comments that Marxism is the solution. History shows what that leads to

    • Michael


      It is true – Marxism is definitely not the solution.


      • Jason

        Marxism may not be the solution, but in all honesty it was never tried. Old Karl did call a lot of things right, though.

  • WeHaveASoul

    Corporation Earth. Too big to fail.

  • Jeff

    I am not offended by the truth. The situation is very much like it was described here, and getting worse.

    I have read theories that claim that our leaders are bent on destroying our economy and the class system it has created, so that they can start from the ashes with a new, “one world” economy.

    I have never been one to listen to conspiracy theories, but this is beginning to sound more believable as the years go by. I am 50, and I have NEVER seen things as messed up as they are in 2011.

  • Eichenlaub

    Tax the super-rich.
    We would be better off if the super-rich “worked” less.
    When the super-rich work, they do not create anything of actual value to our economy.
    In fact the “work” the rich do actually makes our economy less free and less efficient.

    So, tax the rich please.

    I’ll be waiting for my Nobel prize in econ.
    You’re welcome America.

  • Jack Payne

    “So what is the solution?” – Author

    How elementary!

    One must indebt himself for the amount of $50k,minimum,and then sacrifice at least four years of productiveness in order to obtain a virtually worthless sheepskin,from any indoctrination center that accepts him.

    After indoctrination,one must don his sheepskin and behave as such.
    If his wool is thick,his wits dull,AND he permits the shepherds to mount him as often as they wish then..

    Maybe,just maybe,the quality of his cud will improve,as will the amount.
    (Assuming of course,that he was permitted entrance into the field to begin with)

    If he permits the shepherds to fleece his soul enough,he may be groomed to become a shearer himself.


    Mankind can conduct their lives,families,countries and economies in accordance with God’s law.
    (Even though mankind will be unable to execute God’s law perfectly,ANY effort in that direction will produce far sweeter fruit.)

    God won’t steal your wool,and leave you naked in the cold!

    • Michael


      But these days, unfortunately, it seems as though very, very few people have any interest in God’s Law.


  • Mr Carpenter

    I’ve tried to tell this to the R’s and D’s for over 3 decades, and have not had any success, but then again, I didn’t have the internet to help me out most of the time!

    Perhaps people will start to wake up and start demanding that we go back to sensible laws and corporate entities, as described in the article.

    Could “cars” be built by such companies? Yes.

    Airplanes? Yes.

    But we’d have to make sure the tort laws were also made to resemble something sensible, too.

  • GT

    More and more people are realizing it is easier to get a fed handout then to actually work. There is nothing new here. This has been happening for a long time.

    Children are born into poverty in this country as the mothers see them as a government handout. Some will get mad, some will call me a racist, and some will acutally agree with me. I know I work with these mothers. Most do not have a high school education and their mothers raised them in this type of environment. So the cycle continues.

    We think we are smart and can correct this problem by educating people and taking even more of working proples money to throw at it. But honestly, after over 20 years of working with them, nothing will change this trend until we limit what people can receive.

    Hell most of them will even get a part time job or work locally at a fast food joint and quit when they know they are getting close to the income limit.

    I really do not know all of the answers and wish I did. I think we need to add more tax brackets for personal income above the 250k mark. I think we need to close loopholes and lower the corporate tax rate. Better to have them paying taxes then having a 35% corporate tax rate and then have all the loopholes for them to avoid it.

    For once in my life after fighting in two wars I am really worried about our country and the way it is headed.

  • Rhinehart Fox

    Finally an objective article that was neither a diatribe against free enterprise not a defense of pro-business neocons. In the end, the middle class will self-destruct over who to blame while the unholy trinity of big gov’t, multinational corps and banks continue to absorb more and more of our wealth. I’ve frankly given up on our political system. Beware the supposed ‘populist’ who is really just a hack for one side or the other. I do pause to wonder what will happen to the uber-rich once there is no more middle class to market to. They should beware the ire of those whom they deprive of possessions and opportunity. History is full of examples of how ugly things can turn.

  • The US was the top in electronics. They made a killing in sales. Then they became the top in car making. Now they are tops in war equipment.
    How are all of them similar?
    The countries that baught
    these products now have there own factories and produce their own and sell to other countries.
    War equipment is now a big selling point. But they are going the way of the other 2 . Soon other countries will be competing with the US.
    Then what else will we be able to sell?

  • DownWithLibs

    I hear even Obama and his Admin. are stating that it will be better for people to rent instead of own. Perhaps the foundation of a Gov. land/property grab???????????????????

    • Jason

      More likely trying to make you feel better as you lose your home to the bank. The government isn’t trying to take your home – they are just helping their masters in the banks who are.



  • Paul

    “”Capitalism” is supposed to be about the empowerment of individuals and families and small businesses.”

    Are you nuts?
    In capitalism everything is about capital, hence the name.

    You want to know what capitalism is about? read Marx, he studied the system and wrote the book about it: CAPITAL
    Karl Marx
    A Critique of Political Economy

    Try this:
    D. Effect of Crises on the Best Paid Part of the working class
    .. failure of a gigantic London Bank, immediately followed by the collapse of countless swindling companies…

    Sounds familiar?

  • richard Allen

    You totally miss the point what if there were NO corporate income taxes?

    Tax breaks? You cant refund what you don’t pay. you lose billion you go out of business, you don’t write it off against the next 10 years profits.

    You pay you execs multimillion well the taxpayer doesn’t have to pay for your golden parachute if your company goes broke…no tax rebates

    The good outweighs the bad on this issue…

    I wish I could make $7.7 billion, pay no taxes and have the government give me $4.7 billion on top of it.

  • Gary2

    The wealthiest 1 percent of Americans already have a greater net worth than the bottom 90 percent, based on Federal Reserve data. Yet two-thirds of the proposed Republican budget cuts would harm low- and moderate-income families, according to the Center on Budget and Policy Priorities.

    And yet the repubes want still more tax cuts for the wealthy. They are immoral and sickening.

  • Gary2

    New Gallup poll: By 57-35 margin, Americans feel wealth in the USA “should be more evenly distributed.”


    Whether or not anyone likes it taxes on the rich will increase. I am pushing to have all capital gains taxes as ordinary income if you make over 200,000 per year. I originally wanted 100,000 but was advised 200,000-250,000 was more likely. (OFA WI Group)

    After Obama wins in 2012 he no longer needs to worry about reelection and we can move this country more to the left. My complaint is that Obama is way too conservative.

    Conservatism needs to be wiped out for good. All they have for a solution to any question is to cut taxes on the rich. They are a one trick pony. They are a cancer on our country, holding us back. cutting education etc. what foolish dolts and their cannon fodder tea baggers.

    • wobbly-1

      GARY, you sound like socialist/communist who not only drank the Kool-aid but went back for seconds.

      My friend, explain to me how money I earned, I saved, I managed within my means, and I worked hard to develop into a lifestyle that operates within my income at every level(because I have no debt and yet I have a comfortable custom home, cars, motorcycles, great family, paid college tuition for the kids, etc) should be “redistributed” to those who have not made the same decisions that I have?

      I owe my money to no one. They didn’t do a thing for it and I do not owe it to them. Other people were not there working two, and sometimes three, jobs to become self-reliant. It was me.

      I don’t need to give a penny to those who choose to (a) live above their means, (b) operate with debt/credit overhead, (c) exist off the federal government handouts. The socialist utopia does not work and is unfair to those of us who have made it without reliance on “redistribution and government handouts”.

      …but, I hear your philosophy is real popular in several 3rd world banana republics and failed states of many countries who look to the US and wish they had what we EARNED.

      love ya bubba, but I gotta disagree with ya on this one!

      • Gary2

        thanks-the only way you were able to achieve your success is on the work of others meaning society. There is no such thing as a self made man or woman. You benefit from the institutional roads/schools/etc. and you need to pay.

        If Bill Gates was born in the rain forest he would probably be homeless. (he said this not me)

        The USA is already or quickly becoming a third world banana republic. Look at the wealth/income inequality and it speaks for itself.

        I used to be all the things you said you were. After a good paying job loss and now very underemployed those things can be lost very quickly when you sell them on Craig s List to pay the bills and eat.

  • Gary2

    oh yeah-we need to not give these scum bag tax cheat corporations any tax holiday to bring their profits back to the USA. What a pathetic joke.

    I thing the government should simply take any tax owed from the corporations. If they do not like it they can move to Somalia-that way they will have no government bothering them. (maybe a few warlords)

  • Dale

    Thanks for all your insight. I agree with your analysis. Too many of us, for too long, have been blinded by our adherence to the existing two party system. This system has been corrupted to its very core. Something has to change.

  • Stan H

    The originators of this great nation had the right idea of not allowing the few to monopolize an industry or to create a company that is too big to fail. Breaking up a Walmart and other like them by allowing them to sell only one category of merchandise will go a long way in creating real jobs. The next election should be a mandate for whoever wins to either break up these giant institutions and force them to sell off chunks of their businesses, so that there will be more jobs, or to continue things they way they are going. If Americans do not demand real change and vote accordingly, then they can complain and do little else.

  • Gary2

    Michael-you made a good point saying both the repubes and dems suck, however, in your own words: “Most Democrats just wish that big corporations were a little less greedy and were a little more “socially responsible”.

    At least there is some small redeeming value in the dems. There is NO redeeming value to repubes and I would go so far as to say republicans are a cancer on our country.

    I am all for a third/fourth/fifth party, however, until that becomes a reality I am working from with in the Democrat party to bring about change, however small.

    Our best organizing tool has been Paul Ryan and the republicans in general. Our college drop out governor walker has been absolutely stunning in his ability to help the dems get voting members. I think the 2010 beating the dems took was a good thing as the dems were getting a bit complacent. Not anymore…

  • McKinley Morganfield

    “If you are a “Kool-Aid drinking Democrat” you are going to be really upset by this article. If you are a “Kool-Aid drinking Republican” you are going to be really upset by this article. Most Republicans have been brainwashed into believing that “capitalism” means cheerleading while the big corporations hoover up money and power. Most Democrats have no trouble with big corporations either because most establishment Democrats have been brainwashed into believing that large concentrations of power (whether governmental or corporate) are generally good. Most Democrats just wish that big corporations were a little less greedy and were a little more “socially responsible”. Today, the big banks, the big corporations and the federal government are all in bed with one another and it is average Americans that always lose out. Our founding fathers tried to warn us about large concentrations of power. They attempted to establish a very limited central government, they wanted to keep us free from the tyranny of the big banks and they were very suspicious of large corporations.”

    Well said and in the center of the bullseye! You have put the real problem in a nutshell with these few words.

    IMO the most positive and productive form of resistance is to keep as much of your economic activity as local as possible. If you live in a metropolitan area you should try to retreat to the smaller cities and towns and start a new life. (Or rural areas if you can afford a few acres of land.) For many this will not be an option but for those who can, this is your best long term strategy. To the maximum extent possible barter for goods and services, develop a local currency, and keep in local and small. Local and small are beautiful.

  • Rev. Reggie Jackson

    This is another example of how the devil has taken over our nation. He and his fallen angels are waging war on Christanity and on Gods people. And it is more than the economy that we have to guard and reveal the true evil ones; it is the spiritual fabric of our nation.

    The antichrist beast; who are headed by the International Bankers/Illuminati kingpins are determined to rule the whole world; once they destroy the worlds economy. But first; they must bring down the great American Empire to be successful. And they must try to drive God and Jesus Christ out of our culture.

    And once they do this; they will force the whole world to take their Mark of the Beast chip that is spoken about in Revelation 13 and 14. And Revelation 14:9-11, says that if you take their Mark (chip) in your forehead and hand, that you will be tormented 24/7 in the great lake of fire and brimstone. Why? Because it will mean that you have sided and joined Satan and his antichrist beast leader, as your lord and god.

  • Maria

    To the ancient and noble people of beautiful Greece!

    Fight back against this banking takeover of the world! Have courage in your battle, and set the example for people of all nations! The whole world is praying for your victory!

    You do not have to accept this corporate banking takeover of your country. Stand up against them. Do not pay them another dime. The people of Greece do not deserve to be enslaved to the banks who created all of the fake debt! Help each other to fight!

    Take back what they are stealing from you!

    Hold the criminals accountable, and put them in prison where they belong!

  • Colin

    The only issue I would like to raise is your term “economic parasites”. If I go by what you write, I am an “economic parasite”. I am unable to find work as I am mentally disabled, and I need government assistance to live. If I could get medication for my disability, if I could get a job, I wouldn’t want the assistance. I am very unhappy that I asking for this aid. What can I do?

    Here is another statistic – according to Forbes (, five of those counties (out of six) are located within a hour’s drive of Washington, D.C. The city of Washington, D.C. is undergoing gentrification. (

    In summary, not only are our politicians getting more wealthy, but our capital and the surrounding suburbs are becoming more wealthy. I am thinking that this concentration of wealth and power in our capital is having an influence on the people who live and work in D.C.

    As for getting behind in bills, I am noticing a pattern. Many years ago, if our family got behind in its payments, say on an utility or on cable/internet/phone, by one month, there was no threat of service termination. This year, when our family became one month behind on our cable/internet/phone bill, the service provider – Comcast – threatened to terminate our service. We are not new customers; we have been with Comcast for many years. As prices go up, it becomes harder to pay bills, and when the providers of basic services are quick to terminate service if someone is even a month behind, I don’t see how we can even succeed.

    Finally, I am one of those men who Robert Reich mentions. If my mental disability didn’t exist, I would still have difficulty. I am 38, approaching 39 quickly, and I am becoming long term unemployed. I just don’t see how I will be able to get a job.

    • Michael


      I was certainly not seeking to demean anyone in your situation. My heart breaks for people like you. There are millions out there that cannot get jobs in this economy.


    • unspeakable

      I think when he said economic parasites he was implicating people who are able to work but aren’t…and are you sure you’re mentally disabled? You’re post is thorough…far better than most other ones I have seen thus far.

  • VegasBob

    Actually, Michael, I’m a liberal Democrat, but there is nothing in this article I take issue with. In all important respects, your view is spot on.

    The truth is that for nearly 50 years, the Democratic Party has veered off course from its traditional core principle – middle class jobs for working class people. Instead, Democrats became obsessed with special-interest left-wing issues – gender politics, sexual orientation, racial issues, public unions, environment, anti-nuclear, education, social welfare programs, etc.

    While many of these issues merit public discussion, Democrats forgot about their basic commitment to America – middle class jobs for working class people. Democrats forgot that the best social program in the world is a good middle-class job.

    The Republicans haven’t veered much from their basic principle over the years – whatever is good for big business is good for America – and we see how that’s turned out as millions of good jobs were simply sent overseas. The truth is that globalization and de-industrialization have been disasters for American workers, and Democrats have timidly gone along with Republicans on these issues as the Americans middle-class has been destroyed.

    The Republicans have managed to implement their vision of a Corporate police state through their misguided alliance with the so-called ‘religious right.’ They prefer to avoid thinking about the constitutional provision for separation of church and state.

    Sadly, America has devolved into a totalitarian police state. Democrats present us with public policies rooted in Communism, while Republicans present us with public policies rooted in Nazism.

  • To answer the title’s question…it certainly appears so.

  • Tripseven

    Gary2 did you read this part? :

    Well, our liberal friends insist that the solution to all of this inequality is to tax the rich and to distribute the wealth to the poor.

    there are three major problems with that.

    1, when you raise taxes too high you eliminate the incentive to work hard.

    2, when you make it too easy to depend on government handouts you create an underclass of economic parasites.

    3, the big corporations and the ultra-wealthy have become masters at avoiding taxation no matter what the rates are.

    Before you tax the rich too much, you might want to consider the consequences of doing so.

    Why should someone bust his or her rear end to run a business and make a lot of money if the government is just going to come along and take over half of all the money that is made?

    Why dont you save yourself a lot of work: move your sorry attitude into an already communist country, rather than wrecking this one.


  • Perry

    I agree that we (the lower 90%) are up the proverbial creek without a paddle. The upper crust has managed, through the media outlets they own, to whip the sheeple up into a frenzy fighting each other over meaningless ideological issues that have very little to do with what is really happening in our country. They are trying to convince the sheeple that it is the bottom crust that is sapping the wealth of the country. Looking at your lists, I don’t see this happening. Is the wealth of the bottom 10% growing at a nearly exponential rate? I don’t think so.

    I have been reading these articles in hopes that you will provide real solutions. The closest you came in this piece was the suggestion that “We need to throw out the current system of taxation and come up with something entirely new.” That’s the best you can come up with? How about something that could actually happen in the real world?

    Even though I didn’t vote for Obama, I hoped that he would turn against the wealthy people that are destroying the middle class and lead this country for the good of all of our citizens, not just the upper crust. Is he saving that for the second term? What a total disappointment! We may as well have left Bush in office.

  • Nick

    “Number one, when you raise taxes too high you eliminate the incentive to work hard.”

    Do you think that Paris Hilton is rich because she works hard???

    “Number two, when you make it too easy to depend on government handouts you create an underclass of economic parasites.”

    What if you triple the minimum wage, set the maximum working hours at 40/week and provide free health benefits and free schools and college? Does it create parasites? If not, how are you going to fund these if not by taxing the rich?

    “Number three, the big corporations and the ultra-wealthy have become masters at avoiding taxation no matter what the rates are.”

    Only because they set the rules. You said it yourself that “58 percent of the members of Congress are millionaires”. Do you think the millionaires in Congress want to tax the millionaires???

  • Nick

    Let me repeat this:

    It is very easy to tax the rich and the corporations. It is very hard to find people in Congress who want to do so. Why? Michael gave the answer:

    “58 percent of the members of Congress are millionaires”

    Are they going to tax themselves and their friends and sponsors? Of course not!

    • Gary2

      your are 100% correct. Good Insight Nick!

  • Hellonwheels

    The economic situation is getting very exciting and interesting each and every day.
    If you love horror movies and thrillers like i do then this coming economic collapse should have some hellish bang for your bucks.
    Many fine good religious folk yahall are praying that it will not happen.
    The banksters and criminal wallstreeters/real es-taters that are making a profit in these bad times are saying do not rain on my parade.
    But then there are the “US” the similar minds that “LOVE” excitement and want to see things change.
    Why you ask would we welcome a economic crash???
    Because life the way it is is not satisfying for most. We get up go to work come home eat Sh$#T and go to sleep and repeat this over and over again except for 2 or 3 weeks a year called vacation.
    Come on people that’s no way to live!
    Let the excitement begin!!!!!

  • El Pollo de Oro

    “The merger of state and corporate power is called fascism, and fascism has come to America.”—Gerald Celente

    “Il fascismo dovrebbe più appropriatamente chiamarsi corporativismo perch’è una fusione tra stato e potere corporativo.”—Benito Mussolini

    “Capitalism should not be condemned, since we haven’t had capitalism.”—Ron Paul

    Benito Mussolini, a.k.a. Il Duce, knew a thing or two about fascism. In fact, he was an expert. And he had a definition for fascism: “Il fascismo dovrebbe più appropriatamente chiamarsi corporativismo perch’è una fusione tra stato e potere corporativo.” Translation: “Fascism should more properly be called corporatism because it is the merger of state and corporate power.” And as Gerald Celente has often pointed out, this country now fits Mussolini’s definition of fascism.

    What is transpiring in this Third World horror movie called The Banana Republic of America (formerly the USA) is not “socialism” or “Marxism” any more than it is “capitalism,” “free enterprise” or “rugged individualism.” This is fascism, as defined by Il Duce himself. And as the American middle class continues to erode and become the neo-poor, we find ourselves looking more and more like a Third World economy. We find ourselves looking more and more like a banana republic.

    Goodbye, USA. Hello, Banana Republic of America (BRA). God help us.

    Che dio ci aiuti.

  • Kevin

    Vegas Bob

    You stated, “Democratic Party has veered off course from its traditional core principle – middle class jobs for working class people.”

    Veered is an understatement when 83% of US Senate Republicans voted for Chine Free Trade while 80% of the opposing party the Democrats did the same. Some choice.

    Both horses are bought in a two horse race.

  • Chuck S

    We need free enterprise, not government favored capitalism. I think big business wants big regulation and maybe even big taxes that they can evade. I read once that in 1913 the Rockefellers were supporting the income tax while setting up the tax-exempt Rockefeller foundation. Warren Buffet urges higher taxes, but put much of his money into a tax-exempt foundation.

    I think that they want lots of regulations because they hurt their smaller competitors more than themselves, actually giving them an advantage. Especially if they have operations out of the country, so they don’t have to abide by them at all. We need to drastically cut bad regulations (most of them) to help our businesses prosper and hire people.

    We need relatively low taxes on producers – workers, savers, investors, and employers. Tax the rich means tax your employer – maybe to become former employer. The top 1% of income-earners pay 39% of the taxes and the lower 40% of income earners pay zero. Those at the top are already paying their fair share.

    Increasing taxes on them would hurt us more than them – by hurting the economy and killing jobs. The government would take in less that you’d think because of lower income. In fact, the Reagan tax cut and the Bush tax cut both resulted in much more income to the government. Unfortunately, the government spend even more. Tax revenue increased $500 billion after the Bush tax cuts, but spending increased $1 trillion.

  • Joe

    Maybe Marxism is the answer. The federal govt spending already accounts for 30% of our gdp add in state and local government and it must be over 40%. Why not declare a complete socialist state where everyone is guaranteed health coverage with a single payer govt system. Give everyone a job, even a govt job so they can feed and house their families. Please don’t tell me the Soviet Union already tried that, they didn’t, what the Soviet Union had was a Communist Oligarchy. An economy where a few thousand families do really well while millions are without a job is not a good system at all.

  • Shouri the Shilent

    You are concerned about these things because you are not rich. If you were, you wouldnt be concerned about it because the system benefits the wealthy.

    And since people without money are powerless this is all talk and some smoke but no fire.

    Money changes things. Get rich, change the world. But you wont even if you get rich, because as I said, the system benefits the rich.

    Rich are designing the system to feed their needs.
    Poor cant do nothing but talk and make some smoke.

  • Jason

    Nice collection of data points. I’m not sure I agree with all of your conclusions, though.

    History shows that your statements regarding taxation (eg tax the rich) are unfounded. Looking back to the great depression, taxes were progressively raised and overall receipts and economic activity went up (along with deficit spending/stimulus). This continued after the war – during Eisenhower the highest marginal tax rate was 91% and the economy was booming for three decades. Then in the 70’s the ‘great divergence’ began in which corptocracy was reinforced and middle-class income staggered while regulations were removed and taxation eased. The only result – if you ignore three major and a few minor bubble/busts – was who got to experience the rewards of the economy.

    Another couple things that rather simplistic “well if I’m going to get taxed more I’m not going to bother trying to work more” doesn’t consider. First, when building a business the income/profits are rolled back into the business rather than taken as income. This lowers your tax bracket and has the double effect of building your economic activity and increasing employment. If you need to cash out that half-million per year salary I’d say you aren’t spending enough building up your business… or it’s at a critical mass, doing well, and you can start *another* business and build it up. Once done building businesses, sit back, put the thing on auto pilot, take out a hefty salary, pair fair/progressive tax and enjoy life.

    Second, even if a successful business owner decides he doesn’t want to expand his business because he’s worried about the higher tax bracket he’d be in he has left an opening for another entrepreneur to enter the same market space. This actually keeps *more* people employed and assists in the de-concentration of wealth… or, spreading more wealther to more, smaller businesses rather than fewer, larger ones.

    Where exactly is the downside in either of these scenarios?

    As for offshore tax havens – that’s simple enough, close the loopholes. A bill was introduced earlier this year but summarily shot down to do something like that. The merger of the industrial-corporate-state has seen that this is protected turf.

    You mention Britain and France – two states with very much bigger social safety nets than the US has. Britain was hit by the downturn very hard because of their following of the US-lead into a finance-driven economy. France was much less impacted. France also has the best rated healthcare in the world and pays per capita less than half of what the US does, and everyone in the country is covered. Healthcare costs need to go down, and with a single-payer solution, coverage also goes up. It’s a win-win for everyone except the likes of Big Pharma and Big Insurance.

    No doubt about it, you are right: the winner-takes-all society we are almost living in cannot last. View the latest events in the Middle East. It could happen here if enough people are tired, poor and sick enough (ironically, the same we used to open our arms and opportunities to many decades ago). Maybe that is what will be needed to affect change.

    • Gary2

      Michael-I think Jason here called you out:)

      He is not giving into the simple right wing talking points like tax me more and I will work less bs.

      Jason-you make very good points.

      Good Work

  • Nickelthrower


    I’ve got something to say that really pisses off the Libertarians and will probably piss off anyone that agrees with the author of this article and his views on taxes.

    I have no problem with letting the Rich keep more of their “hard earned” money. No problems. I have no problems with deregulation. No problems.

    I have no problems with this very Free Market as long as those same rules apply to those that labor within that market. Lets have a look at what a free market would look like when ALL restrictions with regards to how labor organizes itself (to include a “militant” wing)are removed. Let labor and corporate power compete in an open and free world wide market place and we can let the market decide who will come out on top.

    Of course, the Libertarians clam up and freak out over the question of Armed and Organized Labor as it remove the monopoly of power away from the wealthy elite.

    Think I’m wrong? Go ask a Libertarian their thoughts on Labor Unions. Go ahead.

    • McKinley Morganfield


      I’m basically a libertarian, but not a Libertarian. I am opposed to public sector unions. However, I have no problems with organized labor in the public sector. Workers have the right to collective bargaining. This is particularly important when it comes to workers in the corporate world. It doesn’t work so well when applied to the 5 or 6 employees at the local mom & pop grocery or any small business cocern. In the case of a small business it would probably result in bankruptcy.

      Right now there is no such thing as a ‘free’ market. ‘Free markets’ went the way of the dinosaur back in the 19th century.

    • McKinley Morganfield

      Oops, I meant no problems with unions in the PRIVATE sector.

    • Hi Nicklethrower,

      Are you familiar with the libertarian philosophy of mutualism, also known as market anarchy (see for more info)? We agree entirely with your argument: given a truly free market, the great concentrations of power and wealth (that is, Big State and Big Capital) would be broken up and widely distributed and controlled. As libertarians we reject the State as an agent of economic justice and indeed of anything, so we look to alternative means. One of these is organized labor, especially radical organized labor, like the Wobblies [] (of which I am card-carrying member). We reject the idea that we ought to sit around and wait for the State to save us from Corporate Capital- as if the two were opposed to each other! Rather, it is up to us to build a better world in the shell of the old, without resorting to the violence and disorder of State and Corporate Capital.

  • DaveC

    That’s nothing. From 1945 until 1989, the Communist Party of the Soviet Union was the richest organization in the world. With millions of soldiers and thousands of nuclear warheads, it didn’t just rule 15 percent of the world’s land area, it OWNED all that land. It also owned all buildings, machinery, raw materials, and people (who were effectively slaves). Yet the Party ultimately went bankrupt and lost everything.

    Sic transit gloria mundi — Thus passes the glory of the world (in other words, all wealth/power/fame is fleeting) IRS statistics reflect this — while the top 1% takes home a huge share of total income, few stay in that 1% for more than a couple of years. Or look at Hollywood, where yesterday’s it-girl is today’s crazed druggie.

    • mondobeyondo

      Sad that the Russian elite sat around in their palaces eating caviar, while the common people dug potatoes for something to eat (and drink, too… vodka)
      I sense a trend here…. for the U.S…. arghhh

  • “#1 In the United States today, the richest one percent of all Americans have a greater net worth than the bottom 90 percent combined.”

    That’s the best takeaway for party conversation.

    Nice article, Michael. Yes, the system is broken beyond all reasonable capacity for repair, and, yes, anyone who at this point really “believes in” either political party is either a raging fool or “in on it”!

    • Parmalat

      Yes, eactly, this is the point! New political ideas must emerge in the States, the current 2-party system can not function anymore, it has been bought by these instruments of evil banks and corporations.

  • Will The Banksters And The Corpocracy Eventually Own It All?

    What they will end up with be pretty worthless, due to their insatiable greed.

    On the smallest level, soon the bankers will own my home. But guess what? At that point, the day I get thrown out, it’s not going to be worth much — I plan on making sure of that.

    Try to understand (if you are not in this position-yet) the absolute RAGE of the displaced…look at the ruined, spray painted and burned homes in Detroit, for a start. I totally get that. Multiply it by millions, for all those who are unemployed, foreclosed, homeless, at least those who aren’t so beaten into the ground by their situation. And that will be OUR contribution to the economic revolution.

    But hey, just kidding here : )

  • Colin


    Regarding your use of the words, Communism and Nazism, I think, “I do not think it means what you think it means.” (Inigo Montoya, The Princess Bride)

    Here is a link to both words:
    * Communism –
    * Nazism –

    I agree with you, however, that Democrats have abandoned their former positions, but so have the Republicans. As our politics has moved right-of-center over the past sixty years, the parties have moved in tandem.

  • Rob

    Its not an accident that you have the greatest level of wealth inequality at the same time that you have the government occupying the largest share of the economy they ever have.
    Big government = wealth inequality.
    Always has, always will.
    That’s how the people at the top keep the people at the bottom right where they are. Drown them in red tape and taxes! Works every time…

    • McKinley Morganfield

      Rob says: Big government = wealth equality.

      So very true. Big government & huge corporations sleep in the same bed and too many on the ‘left’ refuse to acknowledge what they do under the covers.

  • mark

    A fair tax would be the best approach for taxes. Property tax on residential property including apartments should go away since taxes are paid the people living in them. Industrial, comerical and farm/forest land should have property tax since these lands are not lived on. Give the farmer an exemption where their house sits from property tax. No rebates for low incomes, everyone should have skin in the game. Then if taxes go up even the poor will vote the big spenders out of office. We do need some way to tax the big corporations since they are not american any longer. They are global in nature and will just increase their power and wealth more.The smaller american companies can have a pass on the big corporate tax. We can only tax the big corporations on the profits made here, otherwise they will go over seas. Military support for global corporations, Europe and Asia needs to end. We no longer have the funds to be the policeman of the world. We need to produce our energy here. We need a much smaller Federal government and way fewer regulations so that we can compete in the world markets. Forget about too big to fail or bail outs and subsidies for all. I am sorry if this might sound mean, but I have seen a lot of folks on disability that can work. Families used to take care of their own. Privite charities with small or no labor costs are better than having the government for a safety net. We cannot afford to pay the wages, benifits and pensions for government social workers any longer. When this country was wealthy, more people picked up themslves by their own bootstraps and tried too be the best that they could be. They did not step up to the public trough for support by the tax payers. They were proud even if they were poor. In this country you can still work your way up the ladder, but this is quickly going away with our spending and debt. Most want to cut spending, but not if effects themselves. Like it or not every group recieving money from the government must take a large haircut. Sadly the people will not vote in a congress that will do this.

    • You are an uniformed mind. A fair tax is an increased property tax. The tax stays local, is managed local, and it liberates labor to earn and it rewards capital to hire. Hire more and your property tax goes down. Obviously you are a fan of increased central planning or you would sponsor a taxing system that would truly diversify power and thus create pockets of autonomy.

  • John Hendricks

    I’d be willing to bet serious money that the favored corporations have many advantages we are not aware of, including low or negative taxes, and low or zero interest rates, favorable regulatory treatment. Small wonder they are so successful.

    • randy

      What is the use of increased economic activity if it results in employment offshore, off shore banking accounts, low or no taxes paid on offshore income, and higher unemployment in traditionally higher wage regions (such as: Detroit, St Louis etc.), AND extended unemployment benefits (entitlements)?

      Higher taxes on higher incomes is necessary to pay for entitlements to keep the peace with those who live in america and miss out on the american dream, and those who inherit or lobby for it.


    • Parmalat

      You should see how it’s like in emerging countries: they work people to the grave for $300 a month, they bribe governments and local officials to get their hands on resources for 1/10 of their real price.

      This is war they’re waging against mankind, they abandoned the US without looking back for 1 minute – in order to go and pillage other territories because it was much more simple to pillage territories where hungry people lived. These corporations are like locusts.

      • Ricardo

        this is true I’m brazilian and they have corruption to take all resources from us at a fraction of their price, while keeping us in “debt” at the other end

  • parallax

    Okay, so the main gist of your article is that a very small percentage of people earn & control ridiculous amounts of wealth and the solution is to NOT tax them because at least 50% of ‘the rest of the people’ are by definition lazy parasites?

    Sounds logical to me.

    • Gary2

      Please forgive our good moderator. I love his articles but he is 100% wrong on not taxing the rich. We need to tax the rich HARD and spread the wealth.

      PS-Also watch when he misquotes Michael Moore 🙂

      • I, Enemy Combatant

        How has that worked in California?

  • Barack Obama and the Federal Reserve are trying to transfer as much wealth as possible to the elite. Our elected government officials are beholden to the banksters and other unaccountable corporate interests that paid for their campaigns. So of course they’re going to do what benefits their corporate masters, not what benefits the actual people of the United States of America.

    We help Americans find jobs and prosperity in Asia. Visit for details.

  • Richard

    “What has destroyed every previous civilization has been the tendency to the unequal distribution of wealth and power”
    – Henry George

    • Gary2

      Amen Brother!

  • “And the kings of the earth, and the great men, and the rich men, and the chief captains, and the mighty men, and every bondman, and every free man, hid themselves in the dens and in the rocks of the mountains; And said to the mountains and rocks, Fall on us, and hide us from the face of him that sitteth on the throne, and from the wrath of the Lamb.”
    —Revelation 6:15-16

  • They “knew not until the flood came”

  • Only God knows the truth and He WILL judge! As believers, we must keep in mind that God is still on His throne!!! God has the Final Word concerning world conditions. You may rest assure that God knows exactly what is going on in the minds of the rulers of earth. God will only allow men to go so far. No one is going to get away with sin! It is important not to get side-tracked from our main duty as believers, soul-winning! Nevertheless, I believe we need to know what is happening in the world in which we live. We must be sober and vigilant because Satan wants to destroy us and remove our God-given freedoms (1st Peter 5:8;John 10:10). If you don’t think our freedoms as Americans are in jeopardy, wake up! “…the time cometh, that whosoever killeth you will think that he doeth God service” (John 16:2). The average person today is woefully ignorant concerning the truth. Sadly, this includes believers

  • “Why do the heathen rage, and the people imagine a vain thing? The kings of the earth set themselves, and the rulers take counsel together, against the LORD, and against his anointed, saying, Let us break their bands asunder, and cast away their cords from us” -Psalm 2:1-3 Why do the heathen rage? Why are they so adamant against the Lord Jesus? John 3:20 tells us, “For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved” (John 3:20). Mankind loves sin! A man would rather burn in hell for an eternity, than to repent from his sins and come to the Lord for forgiveness. Notice, I did not say “give up” his sins–there’s a big difference. To be saved, one must condemn his own sins; thus, in so doing he has repented (or changed his mind about his sinful condition). “Repentance” is a “change of mind” about yourself, your sins and the Savior. Whereas you used to reject Jesus, think you were a good person and think sin was acceptable–Now you accept Jesus, realize your a wicked sinner and condemn the sins in your life. The Hue Hefner’s and the Madonna’s of the world love their sins and REFUSE to see themselves as sinful. They REFUSE to come to Christ, ” lest his deeds should be reproved” (John 3:20). They REFUSE to repent! They REFUSE to change their mind about their sinful lifestyles (fornication, adultery, nudity, filthiness, lasciviousness, greed, lust, sodomy, drunkenness, etc, etc.) They are servants of Satan!

  • SO IF YOUR POOR SICK DYING HUNGRY THIRSTY IN PRISON OPPRESSED DOWNTRODDEN THE SHIT OF THE EARTH REMEMBER THIS!!”And the King shall answer and say unto them, Verily I say unto you, Inasmuch as ye have done it unto one of the least of these my brethren, ye have done it unto me.” —Matthew 25:4

  • Be glad over her, heaven, and you saints, and Apostles, and prophets; because she has been judged by God on your account!!!!!!! WERE TOLD TO REJOICE BE HAPPY!!I CANT WAIT!!!!!!!!!!!!!!!!!!!!!!!.After these things I saw another angel coming down out of heaven, having great authority; and the earth was bright with his glory. 2 And he gave a loud cry, saying, Babylon the great has come down from her high place, she has come to destruction and has become a place of evil spirits, and of every unclean spirit, and a hole for every unclean and hated bird. 3 For through the wine of the wrath of her evil desires all the nations have come to destruction; and the kings of the earth made themselves unclean with her, and the traders of the earth had their wealth increased by the power of her evil ways. 4 And another voice from heaven came to my ears, saying, Come out of her, my people, so that you may have no part in her sins and in her punishments. 5 For her sins have gone up even to heaven, and God has taken note of her evil-doing. 6 Give to her as she gave, even an increased reward for her works; in the cup which was mixed by her, let there be mixed as much again for herself. 7 As she gave glory to herself, and became more evil in her ways, in the same measure give her pain and weeping: for she says in her heart, I am seated here a queen, and am no widow, and will in no way see sorrow. 8 For this reason in one day will her troubles come, death and sorrow and need of food; and she will be completely burned with fire; for strong is the Lord God who is her judge. 9 And the kings of the earth, who made themselves unclean with her, and in her company gave themselves up to evil, will be weeping and crying over her, when they see the smoke of her burning, 10 Watching from far away, for fear of her punishment, saying, Sorrow, sorrow for Babylon, the great town, the strong town! for in one hour you have been judged. 11 And the traders of the earth are weeping and crying over her, because no man has any more desire for their goods, 12 Gold, and silver, and stones of great price, and jewels, and delicate linen, and robes of purple and silk and red; and perfumed wood, and every vessel of ivory, and every vessel made of fair wood, and of brass, and iron, and stone; 13 And sweet-smelling plants, and perfumes, and wine, and oil, and well crushed grain, and cattle and sheep; and horses and carriages and servants; and souls of men. 14 And the fruit of your soul’s desire has gone from you, and all things delicate and shining have come to an end and will never again be seen. 15 The traders in these things, by which their wealth was increased, will be watching far off for fear of her punishment, weeping and crying; 16 Saying, Sorrow, sorrow for the great town, she who was clothed in delicate linen, and purple, and red; with ornaments of gold and stones of great price and jewels! 17 For in one hour such great wealth has come to nothing. And every shipmaster, and all who are sailing on the sea, and sailors and all who get their living by the sea, were watching from far away, 18 And crying out when they saw the smoke of her burning, saying, What town is like the great town? 19 And they put dust on their heads, and were sad, weeping and crying, and saying, Sorrow, sorrow for the great town, in which was increased the wealth of all who had their ships on the sea because of her great stores! for in one hour she is made waste. 20 Be glad over her, heaven, and you saints, and Apostles, and prophets; because she has been judged by God on your account. 21 And a strong angel took up a stone like the great stone with which grain is crushed, and sent it into the sea, saying, So, with a great fall, will Babylon, the great town, come to destruction, and will not be seen any more at all. 22 And the voice of players and makers of music will never again be sounding in you: and no worker, expert in art, will ever again be living in you; and there will be no sound of the crushing of grain any more at all in you; 23 And never again will the shining of lights be seen in you; and the voice of the newly-married man and the bride will never again be sounding in you: for your traders were the lords of the earth, and by your evil powers were all the nations turned out of the right way. 24 And in her was seen the blood of prophets and of saints, and of all who have been put to death on the earth.

  • During the Sermon on the Mount Jesus tells us not to worry, Matthew 6:25-34. In this passage three times Jesus tells his disciples not to be anxious, not to worry.
    Worry is Futile

    Matthew 6:25-27 “Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more important than food, and the body more important than clothes? Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Who of you by worrying can add a single hour to his life?

    Worry is empty and gets you nowhere. We need to learn to trust God. He gave us our life and he will sustain it. An example is the birds of the air. Birds don’t plant any crops. Birds do not store any food in barns or silos. Birds do not shop at supermarkets and they don’t use refrigerators or freezers. Each new day they must hunt and gather food, yet they don’t seem to worry. They are up every morning singing joyfully.

    Can you imagine a scene in the bird nest where Momma Bird asks Papa Bird, What’s wrong Papa why aren’t you sleeping?

    Papa bird says, “I’m worried. We have three newly hatched chicks in the nest. How can I sleep when I do not know what we will do if I can’t find any worms tomorrow?

    Matthew 6:26 says, Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them

    The term used for a having a “nest egg” stored did not come from the birds. They do not store anything. God takes care of them each day. Be like the birds and “Don’t Worry be Happy” (blessed).

  • Go to the ant, thou sluggard; consider her ways, and be wise:

    7Which having no guide, overseer, or ruler,

    8Provideth her meat in the summer, and gathereth her food in the harvest.

    9How long wilt thou sleep, O sluggard? when wilt thou arise out of thy sleep?

    10Yet a little sleep, a little slumber, a little folding of the hands to sleep:

    11So shall thy poverty come as one that travelleth, and thy want as an armed ma

    • Parmalat

      “And why should you not fight in the cause of God and of those who, being weak, are ill-treated [and oppressed]? Men, women, and children, whose cry is: ‘Our Lord! Rescue us from this town, whose people are oppressors, and raise for us from You one who will protect; and raise for us from You one who will help.’” [Qur’an 4:75]

      “And fight them on until there is no more tumult or oppression and there prevail justice and faith in God. But if they cease, let there be no hostility except to those who practice oppression.” [Qur’an 2:192 – 193]

      Why are we killing each other?? They are not our enemies, we are not their enemies, it is banks and corporations who are the enemies of mankind, they want to control everything.

      Christianity and Islam must unite for world peace. The devil laughs when he sees that people of God from the East and West kill each other while the power of the devil grows.

    hallowed be your name.
    Your kingdom come,
    your will be done,
    on earth as it is in heaven.
    Give us this day our daily bread,
    and forgive us our debts,
    as we also have forgiven our debtors.
    And lead us not into temptation,
    but deliver us from evil.”

  • mondobeyondo

    The banksters will succeed.

    The banksters can be stopped. Unfortunately, most Americans are not aware, or simply don’t care, about what’s really happening. They don’t have the fighting spirit of our ancestors. Many of us still do, but there are so few of us. Numbers alone would be enough. There are 310 million Americans. Sadly, 309 million or so, are too busy watching the NBA Finals and America’s Got Talent.

    Therefore, the banksters will succeed.

    • Parmalat

      I don’t think they will, while Islam exists – there also exists another model and an alternative.

      This is why they’re waging war on Islam – to eliminate the alternative.

      Islam is strong enough and has a theoretical basis to fight ususry banks and multinational corporations. Those people know no fear. However, their efforts are targeting the wrong people. Because us Christians from Europe and the States are also victims of these banks and multinational companies. Islam and Christianity have a common enemy, but while they do not really understand our world – we are also pushed by our mass-media to consider them as enemies.
      Muslims and Christians must not be enemies, they can live together – each by his law, each in his territory. The only common enemy of Allah and of peace on earth are usury banks and corporations.
      Somehow we must unite around this idea, the message must be transmitted to El-Khazar, the revival of mankind has to start from somewhere. People must stop killing people, it will only make the enemies of freedom stronger.

      • McKinley Morganfield


        Nice try, but I ain’t buying. Yes, there are many Muslims who can live peacefully with their neighbors without regard to religious differences. They want to live a good life and make a better future for their children. I know a few of these Muslims. Unfortunately, under sharia its a bit difficult to separate religion from politics and there are many things under sharia that are totally unacceptable to the rest of us. Most glaring of all you fail to acknowledge that there are tens of millions of Muslims who want to bring back the caliphate and rule the entire planet by the sword. Those of us who are not Muslims will not submit to Allah under any circumstances.

        McKinley Morganfield

        • Parmalat

          Yes, there ARE millions of Muslims whose desire is to bring back the caliphate.
          But on the other hand, the revival of Jihad has been brought by corporations. By politcians supporting Israel at all costs, by corporations exploiting Saudi oil etc… (see Usaamah bin Laden’s fatwa from 1996 where he speaks about that).
          I am sure that if we just let them be, the spirit of Jihad will fade. And their religion does not forbid trade, trade with the West will go on, maybe on even better terms than corporations impose right now.
          But going after their land, after their resources, supporting Israeli crimes in Palestine can only bring back anger and a desire for revenge.
          Certainly the path of waging war on Muslim territory is much worse than leaving them alone.

      • Ricardo

        no man, Parmalat really got a point there.
        all the other bullshit talking about “differences” is meant to divide us.

      • Jonny

        We must also remember that the Left and Islam are not enemies. They are allies.

        They aren’t against corporations and finance. They want to own and control them and use them to control the masses ideologically.

  • mondobeyondo

    Rich people care about themselves. Poor people care about each other.

  • jeff198524

    I have no pity for most people in the US. Most of the people having financial problems lived on credit cards and bought more house than they could afford. I have absolutely no pity for them. Americans voted for deregulation and outsourcing. Instead of protesting most Americans would rather have half a dozen kids and live on welfare. My neighbors are already on their fourth kid and the woman wants to have ten.

  • James

    The poor and middle class need to band together and stop buying stuff from those corporations and Big Box stores. Starve the bastards. If inflation gets high enough, nobody is going to buy anything these corporations produce anyways. Also, if the higher prices stop people from buying things, the corporations will be force to lower their prices or they won’t be making any money. Most of the corporations sell stuff made in other countries, not here. Local mom and pop businesses and farms would flourish if they could get the business that these corporations and big box stores get.

  • freethinker

    USURY that terminal Satanic evil has brought the world to its current tragic state ! The Protocols of Rothschild (read them !) mapped out the frightening diabolical enfolding scenario over a 100 years ago.Everyone just ignored it.Benjamin Freedman tried to warn the world-he was ignored likewise ! The power of the Satanists comes from that surrendered by all the employees of the “System”-their apparent unflinching loyalty to this filth and willingness to enact the most appalling atrocities keeps the show on the road.If that’s what everybody wants and apparently it is,then hell is here to stay UNTIL PEOPLE START



  • Parmalat

    What has happened to the Crusading warriors of Europe?! Can’t anyone see that we’re being herd like cattle by these banks and multinational corporations?! I understand that while the economy grew nobody was concerned with the big picture, but now the veil has been lifted, everything is there for people to see.

    How could they reach such levels of control over the brave people of the United States?!

    Something has got to change: America’s political system is encouraging such behavior, when you only have 2 parties succeeding in power it’s very easy to control both of them in order to achieve your agenda. America must change to a multi-party sistem, new and widespread ideas must emerge.

  • Charles Wheeler

    Brilliant! Point out the obscene excesses of inequality and then disavow any practical solutions.

    Guess what? When the US had a more progressive tax system it coincided with one of the most productive periods in American history and saw a subsequent rise in social mobility and a lessening of inequality.

    You may not wish to be taxed, but extreme inequality is not economically efficient, and has brought America to the brink as low income groups have been forced to borrow the money the wealthy would have otherwise been taxed.

    Labour unions were an important counter-balance to the power and political influence of corporations, and its hard to see how the free association of workers could be objected to by a libertarian.

    Your highlighting of this issue is redundant when you object to any real-world solutions – which involve the closure of tax ‘avoidance’ schemes and a recognition that financiers earn what they do not solely from ‘working their butts off’, but because they have control of the money supply.

    • Gary2

      you are 100% correct. The rich need to be taxed hard and the wealth spread.

  • natew

    Great article, but in my scrub for integrity, I want to challenge a couple points.

    “The following are 29 statistics about extreme income inequality in America that will blow your mind….”
    #6 -interesting that the time period stops at 2007…
    #8 has what to do with inequality in america exactly? same for #23

    Other than that, it would be nice to link to the source of the stat directly. Some of the links referenced other papers.

  • cazmo

    It would be nice if authors would distinguish between competitive capitalism and monopolistic capitalism, so people aren’t confusing the two. We used to have competition, where gov’t enforced anti-trust laws and broke up companies with too big a market share. Now we have monopolistic capitalism, when gov’t promotes oligopolies where they dub certain companies “too big to fail” while others get tossed to the side. History doesn’t usually have countries going back to their roots, but I still hope we may be able to recover the republic and recreate competition some day.

    • Michael

      Very good point Cazmo.


  • Native American

    Income tax is for one reason and one reason only. To make sure the interest on the national debt is sure to be paid.
    Anything left over, if anything, is used for bread of the “bread and circus fame”

  • Cornwall_5

    We need a revolution (yes, a **************) in thought to shake out of our collective heads what the notion of “work” and “job” is.
    Forcing people to choose between sitting at home in poverty versus expending ridiculous amounts of energy – just to say they are “doing work”, even if that work TOTALLY does not benefit anyone, such police officers, who force hostages into prison against their will – has to be eliminated.

    It is better to pay people to sit home, read, think, conserve energy, not eat animals, and to pay them a comfortable amount for survival, than to pay them extraordinary amounts to go out and be advertising executives, corporate stooges for products we don’t need, or (as I already suggested) be police officers who get rich running concentration camps.

  • Cornwall_5

    I totally sympathize with jeff1985. The few Americans with whom I sympathize are pro-animal rights vegan Green Party members like myself: those who go out of our way to NOT buy meat or animal products or products made overseas (when we can avoid or forego that product) – in other words, those of us who EVERY DAY go out and give up comforts and make economic choices to go without or buy a more expensive animal-friendly labor-friendly product EVEN THOUGH WE ARE NOT LEGALLY REQUIRED TO.

    Again, repeat:

    Again, repeat:

    One can NEVER know if one’s moral choices not to rape and murder and other immoral acts (like extreme greed) are really one’s own unless rape and murder and immoral acts are legalized.

    And, no: I am not “anti-war” or “anti-violence” or “pro-life”. I support war for just causes, like freeing prisoners from the hell of prison, no matter whether the target of that war is the US or Canada or China or Saudi Arabia or Wal-Mart or police officers or the Taliban or … X for any X.

  • Kyle

    The people are too busy to do anything the US is doomed..we the people are too damn lazy & beatin down I see a bunch of freakin losers!

  • indeed

    Extremely good article, with the exception of the bigotry against the poor (which we are all now). And that is a great exception because it closes your mind to solutions.

    We have millions IN THIS COUNTRY who are hungry. These aren’t maggots looking for the next government fix. These are people who are doing there best with what’s left for us.

    Of course, the answer is to support Ron Paul to end the Fed – because it gives the banksters a huge advantage. And on the side of the coin, WE NEED TO RETURN TO A REAL PROGRESSIVE TAX SYSTEM.
    I know you all have been brainwashed to think that’s wrong. Personally, I’ve worked for nearly 40 yrs, most of the time working two or three jobs. I was assaulted and subsequently was fired for “disability”. I didn’t “quit”, I was fired and this enabled the health insurance company to take my retirement forever. And I paid for this fraudulent insurance for decades (like an idiot). I’ve applied for thousands of jobs that I’m very qualified for only to be screamed at “WE DON’T HIRE THE DISABLED”. Would you like to be treated like this? No. But I can’t find a single person who will open his/her eyes. So it’s very harmful to hear this denialism on “justice” articles. In fact, I don’t know a single person who would trade a life of work and everything that they’ve worked for a abject poverty benefit. Please start thinking, but don’t let this be an excuse to not do.

    Another thing is that THEY get “their” money and power from us. Quit doing it.

    • Michael

      I hope it doesn’t seem like I don’t have compassion for the millions of American families that are deeply suffering right now.

      There are a whole lot of people that are really hurting and that would take a good job in a second if they could find one.


  • Dermot

    I think its a false assumption that high tax on the rich would make them lazy and not work as hard. And even if it was true, to what degree do you think it is true? For example do you think someone taking home 130k of the 200k they make, suddenly ends up taking home 90k instead will quit their job and take a less demanding one that brings in 30k?

    With the concentration of stored wealth and the massive disparity in wages, I’d suggest increasing the tax rate on income over 500k to 40%, and on income over 5million to 70%. I don’t think this would case people earning over these amounts to work less. But I do think it would make them consider paying staff more, or hiring more staff, or investing in their business as that would be more effective than taking it out of the business at a 30% rate. Also to deal with the already concentrated wealth. I would put estate tax when you die, at 0% for up to 25mil, and 70% over 25mil. If you don’t want it taxed, then set up or contribute to a good institution like the Rockerfeller one.

    To cut the power of lobby’s/corporations, Make $100 the maximum any person or entity (corportation) can contribute to an election either directly to a canidate or indirectly via advertising, etc. That still leaves a potential 35 billion available in something like the general election. Maybe even make it as low as $50 or $10.

    These things would hurt at first, many businesses catering for the rich would go bust, but it would make it worthwhile for rich people to keep money in their businesses and staff, and not make it so worthwhile to take it out and save/spend it on themselves. The intention isn’t for government to get a big increase in money, though that would probably happen at the start until things settled. But any extra money could be used to pay debt and then anything further would go towards infrastructure. Care must be taken that their would be no increase in ‘welfare’ type stuff. The idea is that the rich would keep money in their business and staff, not keep it for themselves like they do at the moment, and not for the government to suddenly go massively spending.

    The economy needs to be a lot flatter. The gap between the lowest janitor and highest CEO needs to be smaller. The rich will still be rich, high salaries will still be something people aim for and want. But massive concentrations in wealth and power is bad for the country.

    • I, Enemy Combatant

      Does the same apply to celebrities?

      Should the pay gap between Charlie
      Sheen and some no-name extra also be similarly smaller?

  • Earth Cruiser

    Nationalize the Federal reserve, Re-instate the gold Standard, collect all debts owed to the US for saving the world for the past 100 yrs, Flat tax for all without exception, outsourced production jobs demand an equal import tax for products brought back into the country. No Federal subsidies to farmers not to grow grain that could be used to pay off debts to other nations, stop all border intrusions by training our military along the borders, create citizenship methodology for 20m immigrants already here, disband 50% of all Federal government agencies, return to states the rights to rule, let the rest of the world sort out their own issues, Yasser Arafat was correct in stating “we are killing each other over whom has the best imaginary friend” keep your personal beliefs in check, you’re probably not 100% right either. The 10 commandments have no religious basis they are basic human interaction principals. If you wish your future generations to be a serfs and slaves continue to hide your head in the sand and expect the present government to do what is right. If not, make a difference vote out every incumbent; let’s change the entire House and Senate. IF WE DON’T HELP OURSELVES NOW, YOU’RE CHILDREN AND GRANDCHILDREN WILL PAY A PRICE YOU’RE NOT WILLING TO PAY. STAND UP AMERICA, DO SOMETHING

  • Wombat

    I can only speak for the Democrats but you don’t understand our position. We believe corporations have to be regulated in ways which make them socially responsible. This used to be a universal position. State charters used to limit the lifespan of corporations and stiplated they had to operate in the public interest in exchange for limited liability.

    The truth is well-regulated markets function efficiently has been proved by 30 years of deregulation which culminated in 9/15/08 freezing of the world financial system and the subsequent $14 trillion bailout by the central banks. It only took 10 years from the repeal of Glass-Steagall to blow ourselves up.

    All the Republicans I know now are former Republicans and they know deregulation killed the goose that laid the golden egg.

    • I, Enemy Combatant

      California has plenty of regulations.

      How has that worked out?

  • moses737

    Yes, eventually the banksters will own it all. But only for a very little time. And after they have forced everybody to take their zombie making and mind controlling mark of the beast chip; and after they have killed and martyred those who refuse to take it; the Great God of Heaven will send His mighty plagues down upon them and have them all in terror from His mighty plagues. As they have terrified the whole world; then it will be their time to be plagued. And there will not be any remedy from these plagues. And even their trillions of dollars of stolen loot from all of the nations, shall give them any relief from these plagues that God will smite the Earth with.

    And all those who take the Mark (chip) in their forehead or hand; shall be tormented 24/7, forever and ever. Why? Because taking the Mark will mean that you have sided with and joined Satan and his hellish antichrist beast leader and their leaders. According to Revelation 13; especially Revelation 14:9-11.

  • I have a web site where I give advise on penny stocks and stocks under five dollars. I have many years of experience with these type of stocks. If their is anyone that is interested in these type of stocks you can check out my web site by just clicking my name. I would like to comment about the current condition of the american economy. This is one of the hardest periods in the countries history. Their does not seem to be any consensus about the trends for the economy one week the economic news is good the next week its bad. Their seems to be no consistency what so ever when it comes to economic matters. As far as those parasitic banksters go I say lets exchange those three piece suits and briefcases’ for a good pick a shovel a bucket and some pinstripes.

  • Brad

    Simple solution.

    tax corporations in the same proportion as their overseas vs domestic employees. 50% of employees overseas 50% tax rate. 0% overseas 0% tax rate. Big incentive to hire only US based employees then.

  • dan

    I’m a member of the hot lead party.

  • Too late, when the banks and corporations own the place, and set the common man as the system turnip, it’s all done, the “organism” simply will not sacrifice itself for strangers, but it will sacrifice strangers for itself.

    It started in 1914 and WW1 were the New Federal Reserve, and income tax law, couple with the JPMorgan investment house monopoly, channeled funding of the war’s initial 21 Billion 1914 Dollars into the Steel and Oil corporate monopolies of Rockefeller, Carneie, and on down the pyramid.

    By the wars end the WORLD was saddled with 210 BILIION dollars of debt, through that pyramid schemology and guess who were the beneficiaries?

    The same spawn running the place today. Or should we say ruining the place today.

    1. It is a self fueling unstoppable engine.

    2. It carries the blood-money curse like nobody’s business: There business and worship is money, death, and more money.

  • clarence swinney

    Richard correct

    Inequality=Empire bye bye

    Many studies prove that Equality=Happiness
    1945-1980 America ranked high on Equality
    Today 4th from bottom=unhappy population


    20 years three conservative presidents-18 years conservative Senate-12 years Conservative House-6 years Total Conservative control

    Deja Vu 1920’s Conservative Ideology

    Flush up will trickle down

    1945-1980–Bottom 20% gained more, percentagewise, in Wealth-Income than Top 20%
    1980-2008 Top 1% had 281% Post Tax Increase in Income.
    Middle Class got 25%. Loss. Less than inflation

    1980-1% owned 20% Financial Wealth-2009–43%
    1980-1% got 10% all Income-2009-24%

    Top 2% huge tax Cut Praise Allah!
    2% Own 50% financial wealth
    2% Get 30% all individual income
    2% includes this income of 9 Million
    po lil folks need help.send food stamps.

    Wall Street ultra Rich own
    White House-Congress-Pentagon-Banks-Health Care Industry-Media-Food Industry

    120,000,000 workers own 7% of financial wealth Banana anyone?

    The only reason they are not marching in the streets like Middle East is the Safety Net created by Democrats.

    Imagine today with no Social Security-Medicare-Medicaid-Food Stamps-EITC-Student Loans-

    Today, of 31 rich nations America is second from bottom in raising Revenue via a tax system.

    Lowest Taxed in world. Wow!
    Biggest debtor in world. Wow!

    Message–Low taxes created more debt–

    Our NationaI Income 12,000B

    In 2009 we took 2100B in taxes.
    17.5% of our Income.

    We Spent 3600B
    30% of our Income

    We borrowed the difference. What fools!!!

    When one says Flat Tax at 20%. Laugh.
    It takes 30% Flat Tax.

    Top 400 Incomes paid 17%. Ask them to pay 30%!!!
    Corp paid 22%. Ask them to pay 30%. Ha Ha Ha

    God Bless America that former Empire done in by the Love of $$$$$$$$$$$$$$$$$$ GOD $$$$$$$$$$$$.

    olduglymeanhonest political historian
    lifeaholics of america
    madmadmdmad at Inequality in America very mad
    comments welcome **************************

  • John Kessler

    As a liberal myself, I agree with most of the points in this article, but reject the premise that liberals are all in favor of government handouts. The liberals I know are all in favor of regulations that would bring jobs back home to the US and increase worker pay so it aligns with productivity as it once did. We also favor finding ways to get corporations to pay their fair share of taxes. Government giveaways to profitable corporations (corporate welfare) imust be stopped.

    The people who favor government handouts to non-productive members of society (people who could work and contribute to society but chose not to) are not liberals, they are moochers.

    I must admit that there can be a lot of fuzziness between supporting the moochers and providing a safety net to people who really need and deserve it. For instance, punishing children who have moochers as parents is probably not a good idea.

  • Have2MakeHope

    Capitalism is broken and will never be the same! We are living in a world where corruption is the key to success. Do we really need to have so many classes? Would’nt it be better if everyone was equal, where all the necessities were free, where luxury incentives were given for those that excelled, where we did’nt have to worry about our childrens abilities to make a living, where we had a sustainable future, Where we cared about our environment, where there was only one class and all the standards of living were equal? Check out a Resource based economy! This can be an answer for all the problems we now face! Money is fiat, its just paper and the real wealth is in the oil, water,
    metals and other resources that are finite around our world. These things are all that matter and enable us to sustain seven billion people. Capitalism and the debt based economy are based on infinate growth. Our economy has been kept alive through lies, mistruths, propaganda, waste but mostly by increasing the debt. We are on the verge of being destroyed by those that control this fiat currency, information and debt. They know that the resources are unsustainable and so they will reduce the population by those who control the energy first. then by those who use most of the energy.
    These are some egotistical nacissist without any empathy and they will do whatever it takes to keep control. Now you can deny all i have written! you can call me a crazy conspiracy nut who reads too many crazy blogs but i did not come to these conclusions lightly. I live in NYC and in NYC we don’t take anyones words lightly! I don’t expect you to take my words as fact but that does not mean to just dismiss them! Do some research! In 2001 they started with their plan to seize control of the oil producing nations. In 2008 they started destroying the oil using populations. We have little time left till the next step in their destruction of the useless eaters. though I am not sure but i think it will be before the end of summer! Goodluck all and God bless !!!!!

  • Rightwing

    Has anyone even pointed out that “of the people, by the people, for the people” has NOTHING to do with the founding fathers. I from the Gettysburg address… almost 100 years later!

  • What can Americans do to fight the New World Order?

    1. Turn off or throw away your T.V.
    2. Think for yourself.
    3. Question all so-called ‘Authority’
    4. Get out, and/or stay out, of debt!
    5. Use cash, trade or barter as much as possible, rather than debit cards and credit cards
    6. Get rid of grocery store ‘discount’ cards –grocery stores provide this information to insurance companies.
    7. Bank at a Credit Union, or any alternative to the ‘TBTF’ Banks, that participated in the 2008 Banker Bailout.
    8. Invest as much as you reasonably can in precious metals – especially silver.
    9. You have the right to own a firearm, to protect yourself,and your family. Read the 2nd Amendment.
    10. Buy products “Made in America”
    11. Start your own garden
    13. Meditate or pray – reduce your stress!
    14. Get exercise!
    15. Read a book (here is an excellent book recommendation: Psychological Warfare and the New World Order:The Secret War Against the American People )
    16. Listen to soothing classical, jazz, ambient, or other alternative music
    17. Watch ‘Freedom to Fascism’–a film by Aaron Russo (can be found here:
    18. Watch ‘Why We Fight’–a film by Eugene Jarecki (can be found here:…r_embedded)
    19. Watch ‘Endgame’–a film by Alex Jones (can be found here:
    20. Below is advice from John Perkins’ book, entitled THE SECRET HISTORY OF THE AMERICAN EMPIRE (The Truth About Economic Hit Men,Jackals,And How To Change The World), pp. 322-329.

    “AVOID SHOPPING AS ‘RETAIL THERAPY’ (Instead, jog, meditate, read, or find some other solution).
    SHOP CONSCIOUSLY – if there is something you must have, purchase items whose packaging, ingredients, and methods of production are sustainable and support life.
    PURCHASE AT CONSIGNMENT AND THRIFT STORES –where everything is recycled.
    Write letters telling Monsanto, De Beers, ExxonMobil, Adidas, Ford, GE, Coca-Cola, WALMART, and other labor exploiters and environment destroyers
    DOWNSIZE (your car, home, wardrobe) – everything in your life (and don’t buy what you don’t need)
    SUPPORT/SEND MONEY only to non-profits, radio stations, and other organizations that promote JUST causes.
    VOLUNTEER your time and energy to such organizations.
    ENCOURAGE stores to buy from local growers, producers, and suppliers.
    Shop at your LOCAL FARMERS’ MARKET
    AVOID DRINKING WATER THAT IS FLUORIDATED (only your toothpaste should have non-industrial fluoride)
    INSIST that those who use your money – banks, pensions, mutual funds, companies – make socially and environmentally responsible investments.”
    21. Invest in precious metals (especially silver).
    22. Research every company whose products or services you buy
    23. Research every organization to which you donate your hard-earned money
    24. Vote with your dollars!
    25. Watch ‘The Secret of Oz’– a film by William T. Still (can be found here:
    26. Get prepared for when the U.S. dollar TOTALLY COLLAPSES – You’ll need 1) Water, 2) Food, 3) Vital Medicine 4) First Aid Kit, etc.
    27. Global, non-violent, NON-COMPLIANCE is the answer, of We the Plebs, to the ‘elite’ New World Order!
    28. Find alternatives to EVERYTHING that they’ve set up, to entrap you in THEIR system.
    29. What would happen if 200 MILLION AMERICANS refused to pay their taxes, in 2012? (Just a hypothetical question)
    30. Familiarize yourself with the concept of BOYCOTT
    31. Corporate Membership in the CFR (Council on Foreign Relations):
    32. Don’t ever join a ‘secret’ society
    33. Watch ‘Global Warming or Global Governance’ ( )
    34. Educate yourself. Thomas Jefferson: “If a nation expects to be ignorant & free, in a state of civilisation, it expects what never was & never will be.”

    Expand the above list,and share it with everyone you know!

    • Thank you! Oh, great Site Webmaster, for leaving up this post, which will actually assist people in becoming more self-reliant, and possibly even save the U.S. of A. from complete annihilation! Also, be sure to check out Keiser Report (E167)! We’re in the EU/US Central Banker ‘end-game’, right now!

  • Not to get too technical, but when it comes to income disparity, I recommend an examination of what is called the Gini Index. Developed by the Italian statistician Corrado Gini, it measures the gap between actual performance of a set of variables and the 45° line (or normal line) on a graph, which represents perfectly average performance across the spectrum. In an egalitarian society, the Gini Index would be 0.000, since the normal line (known as the Lorenz curve) would match the 45° line perfectly. The higher the Gini numbers, the greater the variance from the norm, and the more unequal the distribution of income appears. In a perfectly unequal society, in which one person or group has all the income and the other groups have none, the normal curve would look like a backwards L, and its value would be 1.000. In practice, the Gini Index usually falls between 0.200 and 0.450
    The U.S. Department of Labor publishes its annual Gini Coefficient with the nation’s tabulated income statistics. The Graph at (not reproduced here)is derived from this data and illustrates the upward Gini trend from 1967 to 2001 as a black line. The red line is a projected continuation of that trend to the year when the U.S. Gini Coefficient will be as high as Mexico’s was in year 2000. Therefore, sirs, on course to match Mexico’s distribution of income by the year 2045 is not a course of events I would tout as desirable.

  • Keiser Report: Ghettofication of America (E168)

    A boom in corporate profits, a bust in jobs, wages

    What has caused this ‘Greater Depression’ in America?

    14 More Of The Coolest Resumes Ever

  • Naming Names: Your Real Government (When dark deeds unfold, point the finger in this direction).
    by Tony Cartalucci

    The Real Revolution
    “Boycott the globalists, cut off their support, undermine their system, and they lose their ability to commit these atrocities. That will be a real revolution and it can start today. Not burning cities and masked rebels waving flags, but communities no longer dependent and fueling a corrupt system we all know must come to an end.”


    (click on my profile name to go to my blog to see my full video)


      *** ***

  • We have sat idle for too long as a whole. Actions can be taken by individuals to challenge the corporte take over. USE COMMUNITY BANKS!! USE LOCAL BUSINESSES!! And most importantly CALL YOUR REPRESENTITIVES and demand the re-instatment of IMPORT TARIFFS! America needs to focus on the importance of buying American!!

  • Jacob

    I’m only 16 and from the looks of all this my generation is going nowhere….

  • Our gov’t has done a poor job of corporate and SEC regulation and has allowed several Monopolies to be formed in the last 20 years.

  • Cyr3n

    It’s simple, get rid of corporate tax entirely (and write offs). A corporation shouldn’t be getting money back when they’re posting profits like that.

    Tax citizens based on income after necessities are paid for.. Right now we have places where over half of what someone makes (after tax) goes to rent/housing leaving very little for food and necessities. Even if you’re making 100k, if your rent is 4K a month (48,000 a year), Utils (including cellphone, Internet, water, power, gas) $500/month (6,000 a year), and you’re taxed 25k (for being supposedly rich). That only leaves 21k for you to LIVE on.

    Minimum wage has to be raised to reflect the actual cost of living. Anything less just ends up passing the bill to taxpayers who are paying welfare benefits to mega-corporations lowest paid workers.

Finca Bayano

Panama Relocation Tours



Facebook Twitter More...