The 1 percent, or rather the top 0.25 percent, of the US population have received the vast bulk of income growth in the US since 1979.
That’s because they’ve held, and continue to hold, all of the mechanisms of legislative power, in the congress and in the white house. They’ve purchased the legislative favors of politicians, such as the corrupt Wall Street Senator Ron Wyden. He’s the face of corruption in government, but the same is true of the US Supreme Court, 100 percent of Republicans in congress, 80 percent of Democrats in congress, and all of the Democrats whose power resides in the white house, such as the president and the attorney general .
Wyden always sides with big money in their war against the middle class. And so he votes to redistribute income from the middle class to the 1 percent via free trade treaties, privatization scams, and deregulation crap. Free trade is really corporate trade, which means lowering wages and reducing standards of living in the process. That’s because free trade treaties are an income redistribution scam, pure and simple, and Wyden knows this. He’s not a stupid boy. These treaties legally pave the way for shipping US jobs overseas to lower wage nations, as well as creating jobs overseas rather than here.
The difference between the old, higher, US wages and the new, lower, wages overseas goes into the pockets of the 0.1 percent via higher corporate profits, rising dividends and surging share prices. The citizens who’ve lost their jobs are lucky to get unemployment insurance, and they might not get a job for years. Wyden and every member of congress and every politician in the white house for the last thirty years know all of this, and yet they still continue to vote with the 1 percent.
From Mother Jones
Wyden’s free trade income redistribution scams have nearly destroyed the US economy by weakening the demand for goods and services. Nowadays, thanks to Wyden and his corrupt political friends such as Republicans Paul Ryan and John Boehner, the 99 percent receive roughly 68 percent of the total income of the US, compared to 92 percent in 1979. We don’t have the income to demand more than we can, and so job growth is historically weak under President Barack Obama, another servant of Wall Street. Look at the graph below and you’ll see exactly what Wyden has done to the 99 percent. And he plans to wreck more of the middle class on behalf of his Wall Street masters.
Remember, the figures in the above graph are from 1979-2005. Vastly more income has been redistributed from the 99 to the 1 percent since then, thanks to George W. Bush, Barack Obama, Scheming Ron Wyden, and a ton of other corrupt officials in Washington D.C.
Under Wyden’s free trade scams, massive amounts of income have been redistributed from the 99 to the 1 percent since 1979. Wyden’s scams are destroying the middle class, as well as the nation. He’s not going to change, he’ll always be a Wall Street warrior against the middle class. The graph above shows how much income Wyden has redistributed from the 99 to the 1 percent on a yearly basis via legislation in the right column. The left column shows how much his policies have redistributed income from the 99 to the 1 percent in total since 1979. However, the left column underestimates the total.
When a job is shipped overseas, or created there instead of here, income is redistributed from the 99 to the 1 percent for as long as that job exists, year after year after year. In other words, the income Wyden redistributes to his corporate buddies is a continuous financial bonanza, or financial loop, for so long as the job exists. Wyden, like the rest of congress and the president, steals jobs from somebody who produces something, and gives it to somebody who produces nothing, except the financial strings they use to manipulate Wyden and his congressional cronies like puppets.
So if Wyden redistributes Joe US’s $60,000 a year job and gives it to Wu Chung in China for $4500 a year, Wyden is redistributing the difference of $55,000 a year to rich shareholders. So long as that job remains outside of the US, the rich continue to receive that money year after year after year. Joe US might get unemployment insurance out of the deal, and Wu Chung gets a life time of slave labor.
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