Simple Concise

[clarence swinney]

1945-
1% owned 30% Total Financial Wealth
1980--20%
1945 to 1981 Each Percentile increased almost evenly in percent of Wealth and Income
Economists called it Picket Fence distribution

Reagan started Step Ladder distribution with 60% tax Cut for 1%.
Bush completed rush to rich

2008--
1% owned-- 43%
10% owned 70%
20% owned 93%

80% owned 7% Thanks Ron George

120,000,000 have 7%. Wow. Praise Allah.

Something will give soon soon

HOW HAPPEN

1945-1981
high top income tax rate
big estate tax rate
srrong unions fought for labor minimum wage fair pay

Then--cut 1% Tax by 60%
Rich get free ride on Payroll tax---Labor pays 100%
Rich get huge cut in Estate Tax.
Gambling Income Tax gets down to 15% labor stays at 28%.

Wall Street unleashed as in 1920s. Go boys go. Vaults are unguarded.

Like S&L's

Shameful Thirty Years with 20 years Conservative presidents--18 years conservative Senate--12 years conservative House and 6 years TOTAL CONTROL.

WORST DECADE IN HISTORY 2000-2010 FOR MAJORITY OF AMERICANS.

[Oregone]

1. That is the natural tendency of capitalism

Wealth begets wealth, which can be perpetually handed down to a select few.

What will be interesting to see is what capitalism will tend to evolve into (politically speaking) at this stage to uphold the status quo of wealth distribution (perhaps totalitarinism). It is feasible that the situation could be diffused and stable markets could be preserved with socialistic trends, but will they give up anything at this point?