Income of very richest shot up by 281% since 1979

I'm all for Capitalism, free-markets and the idea of harder work bringing in more pay and I'm certainly all for pulling one's own weight. However, in our current system, we do not have true capitalism and nothing even resembling free-markets. Rather, we have a system that deprives some, while favoring others. In our system, it isn't the people deciding the direction of markets, rather it is the opposite.

I found this article to be quite alarming and very indicative of things to come. I suggest everyone read it, in its entirety.

[atsimg]http://files.abovetopsecret.com/images/member/4e71648af982.gif[/atsimg]

In the wake of BP's calamitous oil spill in the Gulf of Mexico, CEO Tony Hayward is stepping down, but he will be receiving a severance package amounting to an estimated $18 million.

"That's what he gets for presiding over a record oil disaster and massive losses," commented Chris Hayes, Washington editor of The Nation, who was guest hosting MSNBC's The Rachel Maddow Show on Tuesday.

Hayes went on to note, however, that "Tony Hayward's $18 million payoff is an absolute pittance compared to the kind of cash top CEO's are raking in." He cited a recent Wall Street Journal story which revealed that over the past decade, the two highest-paid CEOs at public companies each took in over a billion dollars in compensation, while others in the top 25 received compensation in the hundreds of millions.

What makes these pay rates really "infuriating," says Hayes, is that "CEO pay is both a cause and partly a symptom of the staggering increase of inequality in this country.

Hayes cited a study recently released by the non-partisan Center on Budget and Policy Priorities which shows that if you're in the bottom 20% of earners, "you're making only 16% more today than you would have in 1979." If you're in the middle fifth, you're making 25% more. "But the top fifth of earners in this country -- they're making 95% more."

Source: rawstory.com...

When this has happened in the past, it usually ends up being a revolt by the people, to replace their masters who have been hording all of the riches. Generally speaking, a community or society starts out with almost everyone on an equal footing. Then, as time goes on certain people accumulate more, giving them power. When they have power and influence, they tend to stretch and bend the system to favor themselves, thus acquiring more riches. It eventually turns out to where the rich get richer and the poor get poorer. When it gets to a certain point, the people are no longer willing to allow their families to be starved and enslaved and thus "reset" the system.

What's different about today, is that the elites have learned from lessons past. Unlike the majority of the public, the elites seem to learn from history's mistakes. What "they" are doing now, is setting up a system to where a revolt will be absolutely impossible. So, when we get to the point where our families are starving and the divide between rich and poor is at the extreme, we will have no recourse to do anything, giving the elite a free-for-all. By then, we will have handed over all of our liberties, or whatever few we have left.

Our founding fathers foresaw situations such as these and this is why the Bill of Rights and the Constitution as a whole were written. However, the last several generations, through complacency and indoctrination, have allowed our Bill of Rights to be subverted and sidelined. We have allowed our children to become indoctrinated to believe that our current system is one of freedom and liberty, even if we have neither. It is in this atmosphere that we have allowed our Constitution to be slowly marginalized, thereby allowing the elites to swoop in and take advantage.

I challenge everyone to just look at many of the laws and policies being enacted lately. The main theme of these laws and policies are designed at control, while any protections that we had are being systematically removed (such as Posse Comitatus, for instance). It is policies such as this that are removing any capabilities of the people to ensure that their families are fed. So, while generations of past always had the option to revolt, that is slowly being taken away from us.

TPTB are smart enough to disable our protections before the economic imbalance become too great. In other words, we are only but cattle, being herded before our ultimate demise.


--airspoon










[edit on 28-7-2010 by airspoon]

reply to post by airspoon


can you possibly lump everyone that makes over min wage or more than you into one group without any analysis?

The groups getting richer are likely those in association with the gubmint, not even the generally well to do. I know many pf formerly well to do that are broke. One connected dude making a 100 millin bonus obscures a hundred honest producers how without the same revenue stream due to business loss and generally depressed spending or production.
To make crazy money now you need tax abatement and lack of competitionl, prosecution and oversight to get away with cutting corners that keeps unorotected competitors from gaining against you.
The crazy profits or incomes by the few connected types can skew basic statistics, and that's IFF you actually beleive what's being offered as factual unspun data.

[edit on 28-7-2010 by mordant1]

reply to post by mordant1


mordant1, I'm not talking about the current middle-class, those with assets under $1-2 million USD (maybe even more). Eventually, that cash and even those assets will be worthless. Rather, I'm talking about the elite class (top 1 - 2 percent), who have control over commodities or even foreign cash, that will outlast the crashing of the USD. I'm talking about the controllers of the market.

You have to look at this on a much larger scale. The dollar only holds value right now because it is the international reserve currency and it is used for most international trades. When that is replaced, as is inevitable, those holding it will be able to use it for toilet paper or maybe even blankets if sewn together.

It is the elite class who hording the riches beyond the USD that will be in control when the divide between rich and poor becomes so great that our economy locks up. Sure, the middle class is comfortable at the moment, but again, this is only because of the status of the USD. This won't last.

--airspoon


[edit on 28-7-2010 by airspoon]

Are the top 1% really getting richer, or is there massive inflation making it look that way?

There is more fiat than physical backing of said fiat.

reply to post by airspoon


You are not being clear with your stats, I used to be in the 1 - 2er % but not anymore, and I know plenty in the same condition. Nobody has invited me into any inner circle. Values simply dissappeared. What happened shouldnt have but govt picked sides instead of remaining neutral and as usual the real best deal was thrown out.
Nobody makes serious money now without a fix in, which increases over all efficiency as far as govt's concerned. The govt is not about diversity, it is distilling the list of acceptable beneficiaries down to a managable minimum so that these can be used as influence on the rest. Capitalsim isnt about efficiency it is more about inefficiency, because govt definition of efficiency is about central managingrresultant regional control.
In any respect what is it that you want from your govt?

reply to post by mordant1


I'm not saying that it is some all-inclusive grand conspiracy with everyone who benefits involved, however I don't believe for a minute that there wasn't a planned effort to move away from free-market capitalism and further subvert the Constitution. Furthermore, whether our current dire situation is an inclusive plan or not, it is a reality.

the sad fact of the matter, is that the rich will get richer, the poor poorer and the status of the USD will not hold. This is a reality and I don't think that any economist, thinking of his own free will, would disagree. When this happens, it will only be the top 1 percent or so, that will be on top and the current policies of population control under the guise of security (some not) will prevent the population from resetting the embalance, which will ultimately lead to total oppression.

How the rich became rich or why our current policies are enacted is neither here nor there and really irrelevant as it pertains to the impending reality.

--airspoon

reply to post by airspoon


Sorry I dont know what you think the rich are so I cant define them as evil or good.
Rich is relative, not a fixed number and there are too many factors to take into consideration, some justified wealth some not so much.
Sloppy thinking sir, I again say I was by most measures one of the rich and so were friends of mine and now we are not. Ssooo your premise that all the rich are getting richer ( YES you do say that, repeatedly) does the discussion a disservice. It is those allied with the program of govt accumulation of power that are profiting on all fronts, not honest producers. It is that corruption based on govt picking winners and losers that makes some incredibly wealthy and steals wealth from honest producers busting their butts producing valid services.