Oligarchy
“Them that’s got shall get. Thems that not shall lose. So the Bible says And it still is news.”- Billie Holiday and Arthur Herzog Jr.
Warren Buffett the second wealthiest man in the world said: “The rich people are doing so well in this country, I mean we never had it so good. It’s class warfare, my class is winning they shouldn’t be.”
Oligarchy is a form of government in which the power is vested in a few persons. Our nation is becoming an oligarchy, because wealth has been concentrated in the hands of a small, privileged elite.
It's a fallacy that we are an increasingly unequal society because a large group of Americans have the skills and education to take advantage of new technology. The truth is that although highly educated workers have done better than those with less education, a college degree is no longer a ticket to big income gains. The real earnings of college graduates fell more than 5 percent between 2000 and 2004.
Many suggest the way to mitigate inequality is to improve our educational system, but the real story is that power relationships have much more to do with the growth of inequality than market forces. The disparity between the enormously wealthy and desperately poor is driven by the excessive income gains of a tiny elite, not the modest gains of college graduates.
A Republican controlled Congress facilitated ever increasing inequality by passing unconscionable tax cuts for the top 1% income bracket. We should be very worried by the increasingly oligarchic nature of American society, because a rising economic tide has failed to lift most boats. More importantly, history tell us that highly unequal societies tend to be highly corrupt. Alan Greenspan has repeatedly warned that growing inequality poses a threat to "democratic society."
Warren Buffett the second wealthiest man in the world said: “The rich people are doing so well in this country, I mean we never had it so good. It’s class warfare, my class is winning they shouldn’t be.”
Oligarchy is a form of government in which the power is vested in a few persons. Our nation is becoming an oligarchy, because wealth has been concentrated in the hands of a small, privileged elite.
It's a fallacy that we are an increasingly unequal society because a large group of Americans have the skills and education to take advantage of new technology. The truth is that although highly educated workers have done better than those with less education, a college degree is no longer a ticket to big income gains. The real earnings of college graduates fell more than 5 percent between 2000 and 2004.
Many suggest the way to mitigate inequality is to improve our educational system, but the real story is that power relationships have much more to do with the growth of inequality than market forces. The disparity between the enormously wealthy and desperately poor is driven by the excessive income gains of a tiny elite, not the modest gains of college graduates.
A Republican controlled Congress facilitated ever increasing inequality by passing unconscionable tax cuts for the top 1% income bracket. We should be very worried by the increasingly oligarchic nature of American society, because a rising economic tide has failed to lift most boats. More importantly, history tell us that highly unequal societies tend to be highly corrupt. Alan Greenspan has repeatedly warned that growing inequality poses a threat to "democratic society."
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