Published on Monday, October 25, 2010 by CommonDreams.org
Socialism? The Rich Are Winning the
The rich and their paid false prophets are doing a bang up job deceiving the poor and middle class. They have convinced many that an evil socialism is alive in the land and it is taking their fair share. But the deception cannot last – facts say otherwise.
Yes, there is a class war – the war of the rich on the poor and the middle class – and the rich are winning. That war has been going on for years. Look at the facts – facts the rich and their false paid prophets do not want people to know.
Let Glen Beck go on about socialists descending on
The truth is that for the several decades the rich in the
Poor Getting Poorer: Facts
One of every six workers, 26.8 million people, is unemployed or underemployed. This “real” unemployment rate is over 17%. There are 14.8 million people designated as “officially” unemployed by the government, a rate of 9.6 percent. Unemployment is worse for African American workers of whom 16.1 percent are unemployed. Another 9.5 million people who are working only part-time while they are seeking full-time work but have had their hours cut back or are so far only able to find work part-time are not counted in the official unemployment numbers. Also, an additional 2.5 million are reported unemployed but not counted because they are classified as discouraged workers in part because they have been out of work for more than 12 months. Source: US Department of Labor Bureau of Labor Statistics October 2010 report.
The median household income for whites in the
Fifty million people in the
Women in the
About 3.5 million people, about one-third of which are children, are homeless at some point in the year in the
There are 49 million people in the
Middle Class Going Backward: Facts
One or two generations ago it was possible for a middle class family to live on one income. Now it takes two incomes to try to enjoy the same quality of life. Wages have not kept up with inflation; adjusted for inflation they have lost ground over the past ten years. The cost of housing, education and health care have all increased at a much higher rate than wages and salaries. In 1967, the middle 60 percent of households received over 52% of all income. In 1998, it was down to 47%. The share going to the poor has also fallen, with the top 20% seeing their share rise. Mark Trumball, “Obama’s challenge: reversing a decade of middle-class decline,” Christian Science Monitor, January 25, 2010. http://www.csmonitor.com/USA/2010/0125/Obama-s-challenge-reversing-a-decade-of-middle-class-decline
A record 2.8 million homes received a foreclosure notice in 2009, higher than both 2008 and 2007. In 2010, the rate is expected to be rise to 3 million homes. Sources: Reuters and RealtyTrac.
Eleven million homeowners (about one in four homeowners) in the
For the first time since the 1940s, the real incomes of middle-class families are lower at the end of the business cycle of the 2000s than they were at the beginning. Despite the fact that the American workforce is working harder and smarter than ever, they are sharing less and less in the benefits they are creating. This is true for white families but even truer for African American families whose gains in the 1990s have mostly been eliminated since then. Source: Jared Bernstein and Heidi Shierholz,
Rich Getting Richer: Facts
The wealth of the richest 400 people in the
The top Hedge Fund Manager of 2009, David Tepper, “earned” $4 billion last year. The rest of the top ten earned: $3.3 billion, $2.5 billion, $2.3 billion, $1.4 billion, $1.3 billion (tie for 6th and 7th place), $900 million (tie for 8th and 9th place), and in last place out of the top ten, $825 million. Source: Business Insider. “Meet the top 10 earning hedge fund managers of 2009.” http://www.businessinsider.com/meet-the-top-10-earning-hedge-fund-managers-of-2009-2010-4 
Income disparity in the
In 1973, the average
Since 1992, the average tax rate on the richest 400 taxpayers in the
Rich people live an average of about five years longer than poor people in the
These are extremely troubling facts for anyone concerned about economic fairness, equality of opportunity, and justice.
Thomas Jefferson once observed that the systematic restructuring of society to benefit the rich over the poor and middle class is a natural appetite of the rich. “Experience declares that man is the only animal which devours his own kind, for I can apply no milder term to…the general prey of the rich on the poor.” But
The rich talk about the rise of socialism to divert attention from the fact that they are devouring the basics of the poor and everyone else. Many of those crying socialism the loudest are doing it to enrich or empower themselves. They are right about one thing – there is a class war going on in the
Bill is Legal Director of the Center for Constitutional Rights and professor of law at Loyola University New Orleans. You can reach Bill at email@example.com
URL to article: http://www.commondreams.org/view/2010/10/25-0
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"The master class has always declared the wars; the subject class has always fought the battles. The master class has had all to gain and nothing to lose, while the subject class has had nothing to gain and everything to lose--especially their lives." Eugene Victor Debs