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Archive for October 12th, 2013

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Notice something in the graph above? It’s this. During the 1980s, prior to 1987, income in real terms for the 99 percent had been heading down all during the decade, while the income of the 1 percent was rising. In other words, all during the 1980s, giant amounts of income were being redistributed from the 99 to the 1 percent. Look at the guy in the left graph, right about where his head is. That’s where income for the 99 percent peaked. That’s where shared prosperity ended. So it began in the early years of the Ronald Reagan presidency. That’s why that political era is called the Reagan Revolution.

That’s where the 1 percent revolted against shared prosperity. Reagan’s tax cuts for the rich initiated the fall and dismemberment of the middle class because it freed up money for the 1 percent to purchase more and more politicians of both political parties, as well as the corporate conservative wing of the US Supreme Court, sometimes referred to as the Koch Brothers wing of the US Supreme Court. They also got to purchase a corporate liberal wing of the court. All together, these folks began approving legislation that redistributes income from the 99 to the 1 percent and dismembers the American Dream.

The 1 percent completely took over the federal government when they pushed their man, President Bill Clinton, to sign Nafta, which redistributed even more massive amounts of income from the 99 to the 1 percent, and allowed the 1 percent to purchase more and more politicians.

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