To put a “human” face on the wealthy elite, lets look at some examples:
Hedge fund manager John Paulson “earned” 4.9 BILLION dollars in 2010. That’s $94 million dollars per WEEK, around $13,428,000 Million dollars per DAY. How did he make his initial billions? By short-selling those now infamous SUBPRIME MORTGAGES that were then packaged together with healthy mortgages, rated AAA by rating firms (who were paid off to do so) and offloaded to mutual funds owned by ordinary human beings – who then lost their incomes, their homes, and retirement funds as the subprime mortgages failed. So in a way, John pocketed YOUR life savings and re-invested it for himself in hedge funds. Nice.
How about Henry Kravis? He makes $51,369 per HOUR. He is a billionaire, the 57th richest person in America. He acquires this wealth by purchasing public companies with borrowed money. To pay off the debt, he cuts benefits at the companies, sells its assets, and lays off employees. Yes, he destroys American jobs for a living. By destroying American jobs, thus he destroys the middle class, and pockets the cash that used to pay those employees. He has gotten rich by impoverishing YOU. This get-rich-quick scheme made him $450 million last year alone.
In addition to being incredibly corrupt, greedy and amoral, these guys pay a lower tax rate than teachers, fire fighters, police officers — and YOU. (And, in addition they have the most expensive accountants in the world exploiting every tax loophole they can find.) These men, and those like them, have transferred the collective national wealth of the United States into their own pockets. That’s how they get to be those Godzilla giants in the post entitled “Godzilla vs The Ants”.
Then there’s the Bankers. The financial system is purposely complex, so that average people will not understand – because if citizens understood how the banking was done in this country, they would be annoyed. Angry. Outraged. Maybe outraged enough to Occupy Wall Street and demand change.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
This short and simple animated video explains EXACTLY what they did — and continue doing — to enrich themselves at the cost of the well being of all the rest of us on the planet. Please share and repost!
and this one is good too!
In the USA, the money making methods of the top, and their refusal to pay their fair share are the reason why WE THE PEOPLE don’t have a decent Universal Health Care System, why we’re being forced to SELL our National Forest lands, why our roads and bridges are CRUMBLING, and why we haven’t caught up with the rest of the world in high speed rail. Its why your local state taxes are going up to make up for the federal shortfall. It’s why your schools are overcrowded, your local roads are full of potholes, and your services are constantly being cut.
We need an entirely NEW system built on equality and respect for life. One step towards this would be to implement three things: 1)Publicly financed elections – no lobbying or “donations” allowed, 2)Strict government regulation of corporations and banks, and 3)a fair progressive tax system. Taxes are the price of a civilized society.
And what about the bought-and-paid-for reich-wing politicians who slavish serve lobbyist Grover Norquist in refusing to restore taxes upon the top 1%? One wonders whether politicians who knowingly continue to undermine any attempt at helping the economy could be considered “domestic enemies” of the people of this United States. And if so, should they really be allowed to hold office?
And, by the way, just what is the definition of “treason“?
UPDATE: This article just appeared on addictinginfo.com . The author appears to answer my question.
- Fiscal Inequality: Godzilla vs. Ants (crazyemailsandbackstories.wordpress.com)