What’s a middle class or poor person to do with corporations, the wealthy, the Supreme Court and banks working tirelessly against their interests?
The GINI index measures the disparity between the rich and poor in various countries.
The latest GINI index from the CIA World Factsheet lists Sweden with the least disparity. The United States is number 92 out of 134, between Uruguay and Cameroon. Sure, our poor aren’t as poor as say India’s, but it certainly is indicative of something.
The top 1 percent in the U.S. own 40 percent of the nation’s wealth. To visualize what Americans think about the distribution of wealth and the actuality, Google the six-plus-minute video “Wealth Inequality in America.”
As to banks, Sen. Dick Durbin said, “Frankly they own the place.” Attorney General Eric Holder said recently that some banks are simply too big to prosecute.
March 7 Sen. Elizabeth Warren said she wants HSBC bank executives jailed for repeatedly laundering money for drug cartels. The banks can robo-sign mortgages and abuse their customers but, at least the big banks, have a get-out-of jail-free card.
No one from Wall Street has ever gone to jail, just whistleblowers. Look up “Another Wall Street Whistleblower gets Reamed,” by Matt Taibbi.
Pete Peterson’s mission is to gut Social Security, Medicare and Medicaid. His organization Fix the Debt has 127 CEO’s behind it and he has personally spent a billion dollars over the years. They want even more money in the pipeline leading to the top.
As the manager of a private equity company he pays lower taxes due to a loophole. In Congress their guy is Paul Ryan, who is back with Medicare vouchers.
Finally, the Supreme Court’s conservative majority have diminished the power of your vote and have greatly empowered corporations, unions (to lesser extent), and the very wealthy.
Citizens United v. FEC allowed unlimited contributions by corporations and the wealthy. Speechnow.org v FEC gave us super pacs. With a little effort corporations and the wealthy can completely hide their contributions. An as yet undecided case, McCutcheon v FEC, would lift overall donation limits. See The Hill’s Congress blog (bit.ly/WH678x), “Study shows super pacs made a mockery of campaign law.”
The wealthiest Americans and their allies want your piece of the economic pie to be small, and growing smaller, and your vote to diminish in strength.
Practice bowing and curtseying, respectively.