Knowing the truth can set you free. Knowledge of the forces that constrain you is the first step toward achieving freedom. Great spirits always encounter violent opposition from mediocre and bought off mouths and minds.
So here’s economic myths numbers four and five.
4. Myth: Free trade is good, but only if you’re rich.
Fact: International income redistribution agreements are falsely marketed as free trade agreements. These agreements are perhaps the biggest reason why the 99 percent receive only 66 percent of the income created in the United States nowadays, compared to 8 percent.
5. Myth: The United States is a democracy in which all the people are represented.
Fact: The United States is a plutocracy, which is a government of the rich, by the rich, and for the rich. At times in the past, the USA has had a national government that represented most of the people, but never all of the people. When this has occurred the rich only received 8 percent of national income. Today the rich steal 36 percent of the total national income.
In other words, income distribution is solely linked to political power. Whosoever has the gold makes the rules.