A unionized public employee, a member of the Tea Party and a CEO are sitting at a table. In the middle of the table there is a plate with a dozen cookies on it. The CEO reaches across and takes 11 cookies, looks at the tea partier and says,”Look out for that union guy, he wants a piece of your cookie.”
This country has entered into a crazy stage. Granted, there have been series of craziness here: the Know-Nothings, the Chinese Exclusion Act, the Dred Scott decision, McCarthism, the 1960´s, etc. But, we have now entered this stage where most of the rewards of economic growth have benefited the top 1% of the top 1% of income earners and 34.6% of the wealth of the U.S. is controlled by the top 1% of the people (the next 38.5% of the wealth is owned by the people in the 2-10% range).
The rich keep getting richer, and we then cut their taxes and proclaim we’re broke and are therefore forced to reduce benefits to the poor. This is pure greed at work — and we should remember that greed is one of the seven deadly sins.
The corporate tax rate, which accounted for 30% of the federal income in 1950, now accounts for just 10% and is falling.
Corporations are paying less. The rich are paying less. And we have a budget crisis and must now cut services to the poor. May God forgive us!
[All statistics and the graphic are taken from Mother Jones.]