Hoo boy! America is actually on unequal society. Especially when you look at income distribution, America is more like a Third World banana republic than an advanced industrial democracy.
Way at the top, just as Occupy claims, we’ve got a one percent that owns 40 percent of everything—while the lower 99 percent only own 20 percent of everything. Think about that for a second. In a nation with a foundation based on equality—equal treatment under the law, especially, but relative equality in everything else—this turn of events, something that has occurred since the dawn of the so-called Reagan Revolution, is not part of my “happy place”.
Think about equality before the law. When you’re a multimillionaire like Romney Schmomney, you’ve got resources that are so far beyond the reach of, say, a crackhead who’s been caught with a couple rocks of crack cocaine in his pockets that the idea of equality under the law is almost laughable. You’ve got a team of $1,000-an-hour lawyers, you’ve got all kinds of financial options—and then you’ve got a crackhead going inside for 25 to life.
It’s not equality. In fact, the situation in the US is so far from equality as to make one of the foundations of our government and our society sound almost ridiculous.
After 1929, the last time wealth inequality got this disparate, not only was the Great Depression one of the results of too much money in the hands of way too few, but FDR decided to address this vast inequality of wealth by forcing through Congress an federal income taxation system so progressive that, at times, the wealthiest Americans were being taxed around 90 percent.
Roosevelt was wise. He knew democracy was impossible if the disparity of wealth among the 100 percent of Americans was so top-heavy as to be ridiculous. This was a national security issue. Democracy couldn’t survive with that kind of wealth disparity.
Of course, things have changed. The Republicans in particular have thrown so many tax cuts to Americans as part of their “bread and circuses” rulership plan that we’re now borrowing money from, well, guess whom?
The banks! That’s right. As of this minute, the US is the number one debtor nation in the world. We’re also one of the richest nations in the world. Something isn’t adding up. For example, the Government Accounting Office estimates that $223 trillion dollars of American wealth is stashed away overseas. We also know that the total US debt is $14 trillion right now. It’s only logical that, if the government could tax all that hidden money, we’d solve our debt problem in a matter of days.
Of course, Romney Schmomney, who is one of those wackazoids who has millions stashed away and safe from the IRS, is spreading fear among the plutocrats who support him. What? You mean Barack Obama has the sense to know democracy is impossible with wealth disparity as wide as it is in the US?
Well, shame on Obama. Honestly. This latest Republican scare tactic is almost ridiculous. It should be obvious to everyone in America that all that wealth at the top isn’t healthy for our democracy. Even the wealthy should know that. How can they claim to be patriotic when they’re hiding their money from the taxman?
What’s really upsetting is that, right now, the US has such a revenue problem that borrowing from the banks has resulted in one of the most sinister turns of events this country has ever seen: We’re losing our national sovereignty because the government is being forced to go into debt to banks because of tax cuts. Yup. That’s the upshot of your tax cuts at work.
Many both on the left and the right are coming to their senses and beginning to realize that America is becoming a corporatism, which of course is a step on the road to fascism. We really do need to do something about wealth disparity in America, and besides, who really needs a 37-bedroom mansion—or, in Romney Schmomney’s case, 10 of them?
The guy’s a pig. We should tax him into submission.