According to Michael Moore 400 individual Americans have more wealth than half of all Americans combined. According to an article in the May 2011 issue of Vanity Fair, the upper 1% of Americans now take home more than 25% of the nation's income and control 40% of the nation's wealth.The Vanity Fair article goes on to state:
"In terms of income equality, America lags behind any country in the old, ossified Europe that President George W. Bush used to deride. Among our closest counterparts are Russia with its oligarchs and Iran. While many of the old centers of inequality in Latin America, such as Brazil, have been striving in recent years, rather successfully, to improve the plight of the poor and reduce gaps in income, America has allowed inequality to grow."
In the face of increasing rates of poverty and income inequality, Republicans still want to repeal the estate tax ( which they refer to as the "death" tax) and scream socialism and commie bastard at anyone who disagrees with them. They will live to regret allowing the balance of wealth and power to become so skewed in America.
This is how revolutions are made.
This is how revolutions are made.
cartoon by David Baldinger at dbaldinger.com.