No To Oligarchy ~ Bernie Sanders via The Nation ~must read

[boston bean]

The American people are hurting. As a result of the greed, recklessness and illegal behavior on Wall Street, millions of Americans have lost their jobs, homes, life savings and their ability to get a higher education. Today, some 22 percent of our children live in poverty, and millions more have become dependent on food stamps for their food.

And while the Great Wall Street Recession has devastated the middle class, the truth is that working families have been experiencing a decline for decades. During the Bush years alone, from 2000-2008, median family income dropped by nearly $2,200 and millions lost their health insurance. Today, because of stagnating wages and higher costs for basic necessities, the average two-wage-earner family has less disposable income than a one-wage-earner family did a generation ago. The average American today is underpaid, overworked and stressed out as to what the future will bring for his or her children. For many, the American dream has become a nightmare.

But, not everybody is hurting. While the middle class disappears and poverty increases the wealthiest people in our country are not only doing extremely well, they are using their wealth and political power to protect and expand their very privileged status at the expense of everyone else. This upper-crust of extremely wealthy families are hell-bent on destroying the democratic vision of a strong middle-class which has made the United States the envy of the world. In its place they are determined to create an oligarchy in which a small number of families control the economic and political life of our country.

The 400 richest families in America, who saw their wealth increase by some $400 billion during the Bush years, have now accumulated $1.27 trillion in wealth. Four hundred families! During the last fifteen years, while these enormously rich people became much richer their effective tax rates were slashed almost in half. While the highest-paid 400 Americans had an average income of $345 million in 2007, as a result of Bush tax policy they now pay an effective tax rate of 16.6 percent, the lowest on record.

http://www.thenation.com/article/37889/no-oligarchy

[xchrom]

1. Recommend

[LWolf]

2. k&r

[Rob in AZ]

3. the oblivious right

I have a feeling most people would be amazed at how oblivious the less than wealthy on the right are as to these numbers & at how, even after seeing the numbers, they would remain oblivious to the real & current affect this has on them, personally.

[boston bean]

4. That

is why it's so upsetting to see the "left" protect the oligarchs.

Via health insurance reform.

Via meek and mild Finance reform.

If the dems trotted out this info every single day, and said they were going to do something about it, and actually did something about it (that's more important) they would remain in power for a century.

[howaboutme]

5. Americans need to understand it is beyond left versus right

It comes down to corporatefascists and banksters and oligarchs vs the rest of Americans - both Ds and Rs. This group of mega rich control enough representation in both parties to control America. They use politics and divisive issues to keep the sheeple bickering. Bernie Sanders and others understand that.