Tuesday, March 5, 2013

Serving the Rich Has Become the American Way

The extreme concentration of wealth at the top has corrupted our entire political system, and with it civil society. Politicians have become dependent on the new economic elite for contributions; universities for funding; ordinary citizens for jobs and careers. The result is policies which maximize economic inequality, even under Democratic presidents and which drive down wages and make work insecure. The result-"trickle down economics" seems like the only realistic option for institutions and individuals. You either serve the rich or you are condemned to a life of hardship and insecurity. President Obama's appointment of the head of the Walton Foundation as head of the Office of Management and Budget is the icing on the trickle down cake. With one hand, he supports raising the minimum wage; on the other hand, you give major responsibility to the representative of a corporation whose CEO makes $16,000 an hour and whose entry level workers make $6.50 and hour. Don't expect the current pattern of wealth distribution to change in President Obama's second term unless there is a popular revolt that dwarfs Occupy Wall Street and reaches deep into the nation's working class, middle class and communities of color

1 comment:

Michael Fiorillo said...

"The result is economic policies which maximize economic inequality, even under democratic presidents..."

No, ESPECIALLY under Democratic presidents, in particular this one, who will go down in history as the Great Impostor, who was chosen by the Overclass to divert and neutralize opposition to Neoliberalism run amok.

None of the shameful things you describe will begin to change until Obama and his ilk are understood for what they are and repudiated.

www.nakedcapitalism.com/2012/04/growth-of-income-inequality-is-worse-under-obama-than-bush