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Posts Tagged ‘wealth’

80 percent of Democrats and 100 percent of Republicans in congress and in the white house represent only the interests of their factions of the 1 percent, corporations and Wall Street. That’s why both parties exclusively create and enact legislation on the federal level that redistributes income from the 99 to the 1 percent, such as free trade treaties.

To divide us against our common enemies, which is both major political parties, they play a game. It’s called divide and conquer via social issues, such as gun control, gay marriage, abortion, flag burning, race, ethnicity, illegal immigration, legal immigration, and everything else you can think of.

The golden rule dictates why this has happened in Washington D.C.; he who has the gold makes the rules. Restore democracy and end dictatorship of the rich by getting money out of politics.

And by the way, it has become quite obvious, that on pretty much all legislation that redistributes income from the 99 to the 1 percent, and any other piece of legislation that helps to sustain this, such as the NSA domestic spying program, the US Supreme Court will always side with big money regardless of what the US Constitution or any US laws say. That’s why we’re playing in a rigged game.  That’s why President Obama sides with Monsanto against the health of the American people, that’s why the government coordinated the attacks on Occupy Wall Street…..etc….

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Breaking through the floor of the political power of the rich

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On the Backs of Whom?

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The rich are getting richer under President Obama, and this is partly true because of his policies, such as the South Korea Free Trade Agreement.

According to a report out of the Pew Research Center, “During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%.”

There’s are several reasons for this trend. One of the worst is that one to two plus million jobs are exported every year from the US, according to the Federal Reserve. The difference between the old wages and the new lower wages over there are redistributed from the job losers to rich shareholders via higher corporate earnings, increased dividends and rising share prices.

And that is precisely what has occurred, a massive redistribution of income, which has fueled a rise in share and bond prices (wealth). BTW, income is money coming in, such as weekly pay checks and corporate dividends, while wealth is composed of assets.

The people in the top 7 percent saw their total wealth increase $5.6 trillion, mostly in the form of stocks and bonds. The 93 percent and lower saw their wealth decrease by $0.6 trillion. Their wealth is mostly in their houses.

What happens when job get shipped overseas? Many people lose their houses. If enough jobs are shipped overseas, then local tax bases begin to shrink. Teachers, fire fighters, government lawyers and accountants; they lose their jobs, they lose their houses. But corporate share prices rise because labor costs are reduced. In other words, a massive redistribution of income results in a massive redistribution of wealth.

The 1 percent have stolen virtually all income growth during the last five years. They now steal over 30 percent of all yearly US income, up from about 8 percent thirty-three years ago. Free trade treaties have played a massive role in this.

According to Pew, “During the period under study, the S&P 500 rose by 34% (and has since risen by an additional 26%), while the S&P/Case-Shiller home price index fell by 5%, continuing a steep slide that began with the crash of the housing market in 2006. (Housing prices have slowly started to rebound in the past year but remain 29% below their 2006 peak.)”

The reason for the results of this study is massive corruption in the US government. Money is the reason why many congress persons and senators vote to redistribute income from the 99 to the 1 percent. All of this was easily predictable, and I did so in The Rigged Game.

Click the link for more on this story.

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Federal Reserve Chairman Ben Bernanke lies under oath again

And all of those billions of dollars of federal reserve subsidies, which is money that is simply printed on demand, are redistributed to the 1 percent via higher profits, dividends and share prices than would otherwise be the case, making it easier for them to buy and control politicians of the federal government, as well as state and local governments. They use that power via their subsidies to redistribute income and wealth from the 99 to the 1 percent via legislation such as free trade treaties and privatization scams.

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From Buzzflash, “The first step is to learn the facts, and then to get angry and to ask ourselves, as progressives and caring human beings, what we can do about the relentless transfer of wealth to a small group of well-positioned Americans.

$2.13 per hour vs. $3,000,000.00 per hour

Each of the Koch brothers saw his investments grow by $6 billion in one year, which is three million dollars per hour based on a 40-hour ‘work’ week. They used some of the money to try to kill renewable energy standards around the country.” They also purchased a lot of politicians with that money in the form of their annual campaign contributions and political action committee support, which went to such political warriors for the 1 percent as Congressman John Boehner, Senator Orrin Hatch and Wisconsin Governor Scott Walker. That’s why they own your government, and you don’t.

click on the link below for the rest of the story.

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