[The real question is whether the working and middle classes of the United States will go on allowing themselves to be taken advantage of by our super-rich, who are gathering to themselves more and more of the national income. The top 1% owned 25% of the privately held national wealth in the United States in the 1950s, but have 38% of it today.
In contrast, real wages per hour for the average worker in the United States, adjusted for inflation, peaked in 1970. We’re now down from that, with a generation and a half blocked from meaningful economic advancement.
But, you will say, the US is a much wealthier society now than it was in 1970 or 1990. Where has all the extra money generated by American labor and investment gone?
It has gone to the rich. Yes, folks, the rich are taking home a fifth of everything we make as a country each year, up from ten percent in 1970. We are 310 million people. About 3 million get a fifth of the annual income. Those 3 million people are 3 million Mitt Romneys. They want low taxes and they want to get rid of social security, medicare and Obamacare.] emphasis added to make you mad
http://www.juancole.com/2012/09/labor-day-question-are-you-better-off-than-you-were-in-1970.html
"It's the same the whole world over
It's the poor what gets the blame It's the rich what gets the pleasure Ain't it all a bloomin' shame?"
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