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How Bad Is Wealth Inequality?

March 6, 2013

It’s much worse than you think, believe me.  You probably didn’t know that 80% of all Americans only have 7% of all the wealth.  The top 1% have 40% of the wealth.  The average CEO makes 380 times the salary of his average worker’s wage.  Watch this video and be amazed.

I’ve watched my hometown being invaded by big corporations.  The local pharmacies are gone, displaced by Walgreens.  The local grocery stores have been moved out by Walmart and Kroger.  JC Penny and Kohls have moved local retailers out of the picture.  Next to a few local businesses, like barber shops and a few restaurants, everything has been taken over by the big mega corporations you see in every other town.  You don’t see wealthy local business leaders who can contribute back to the community.   Instead, everything is owned by people living far away, sitting in Wall Street offices in New York and elsewhere.

We’re forced to put our money into retirement accounts which are big pools of money for them to gamble with.  We wake up one day and see that it’s lost 30% of its value but what can we do?  Savings accounts don’t pay anything anymore and inflation eats away anything you try to save.  If you try to save up money over your lifetime, if you put away money while you’re young, by the time you’re in old age going to spend it, it will have lost 90 to 95% of its value.  Since we can’t build any security for ourselves, we have to work well into old age.  But there’s a problem with that — although these corporations continue to rake in record profits, they’re continually reducing all benefits and wages.  I know many people who they’re working 39 hours a week so they don’t have to provide them healthcare and other benefits.  Don’t get me started on healthcare.

This whole economy is a scam.  A giant rat race, rigged by the rich and powerful to keep us enslaved.

Topics: Economics, Politics | 1 Comment »

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