I have blogged and blogged on this subject and have been puzzled and disheartened at the lack of response. What is wrong with you, what is wrong with the general public, what is wrong with the 99 per centers? Is it stupidity as suggested in another of Elliot's recent blogs? Look, this is the single most pressing, most urgent problem facing the nation. Unless this grave and growing disparity in wealth can be corrected you can just forget the rest.
Commentary: Concentration of wealth with the 1% is too profound to ignore
“These days (Hedrick) Smith is out with “Who Stole the American Dream?” — an account that describes the dismantling of the middle class. Smith trots out a set of numbers that quickly cut to the chase:
• Since 2008, corporate profits have risen 20.1 percent a year. Meanwhile, average family incomes rose just 1.4 percent annually.
• In 2011, the top 1 percent captured not just 100 percent of the nation’s growth, but 114 percent. That means the other 99 percent actually lost ground.
So people in the middle are stuck like dead skunks in the middle of the road. Citigroup, an organization not prone to hyperbole, declared that the inequality of income in this nation is the greatest since 16th century Spain.”