The 1 percent class has operated largely behind the scenes for over a hundred years now. They were bold and visible during the era of the Robber Barons, but when the Progressive Movement undercut their momentum, they went underground and have been working since then to create a dominating wealthy class that can never be put in its place again. Such a permanent wealthy class has been known throughout history as an “aristocracy.”
In the 21st century, our newly visible aristocracy, with a few super-wealthy oligarchs leading the way, has essentially “come out” as a political class openly working to subvert American democratic values/processes and install themselves as America’s untouchable ruling class. The 2010 “Citizens United” court decision allows them to use their unlimited resources to purchase politicians willing to bend the knee to their every legislative wish, essentially turning the Congress into homeless beggars shining shoes and licking boots for a living.
The 1 percent class regularly pushes myths like the “trickle-down” theory of economics, or “all boats rise,” which says that when they get richer, so does everybody else. Not true, especially in the 21st century, when other boats have not risen like the yachts of the very rich. The rich also say the poor are always getting bailouts, when in fact, the statistics show that the rich benefit more from times of government poverty bailouts than the poor. Another myth is that the wealthy work harder than the working class, but in fact, most get fabulous inheritances, enabling them to live the life of nepo-babies, spending unearned income without lifting a finger. Another myth is that the wealthy pay a lot of taxes, but, in fact, they famously benefit from so many loopholes that many pay a smaller percentage than the working poor.
Regarding taxes, the rich say the 37 percent tax rate imposed on them today is too heavy for them to bear. However, the truth is that the top income tax rate during the 1950s, 60s, and 70s never dropped below 70 percent, and the rich managed just fine then.
American democratic culture has always understood that unregulated accumulation of capital makes for anti-democratic corruption of wealth holders. Not long ago, we imposed luxury taxes on everything from yachts to mansions to cars to airplanes to keep people from believing that they were special above all others. However, we no longer seem to care about the corrosive effects of huge piles of money because we repealed many of those taxes. The super-rich have long been super-busy creating the economic and political catastrophe we have today, which we have done little to prevent.
Unregulated capital has trashed the U.S. Constitution at every turn, including working to unhinge America from its progressive income tax structure and also rely on regressive sales and fuel taxes; end business competition by means of industry-wide monopolies in restraint of trade; diminish corporate taxation; lower tax rates on capital gains; prohibit government bargaining on drug prices; discriminate against lower-income renters by way of the home mortgage interest deduction provision of the tax code; double the exemption for estate taxes for the rich; push debt spending through misleading advertising so as to keep the middle class and the working poor in a perpetual state of debt servitude; engage in stock buybacks to line their own pockets.
For 3,000 years the Judeo-Christian culture in Europe and America kept interest rates charged on borrowers in the single-digit range, but now the American aristocracy has succeeded in charging 20 percent and more on credit card rates for the middle class, and anywhere from 100-300 percent on annualized short-term payday-type loans to the working poor.
Since World War II, the wealthy have also promoted the long-term decline of unions capable of collective bargaining.
America’s rich folks built up communist Russia and later communist China by investing in those countries and reaping more profits for themselves, accepting the flimsy promises of their dictators that they were heading down the road of capitalism.
Corporations and their wealthy CEOs manipulate the U.S. government to support Central and South American dictatorships when those dictators promise to help American corporations expand their operations and their profits.
The wealthy military-industrial complex lures the country into many dozens of non-defensive conflicts abroad so they can get rich while our own people and the people of other nations die in unnecessary conflicts and come home to impoverished families.
The wealthy also support U.S. puppet wars in places like Ukraine and Gaza to enrich their bank accounts without costing American lives.
The rich have fulfilled the worst fears of our ancestors because they have become callous and cruel, greedy and flashy, insecure and ignorant, and viciously entitled.
The rich have stolen the ethical, democracy-loving God of the Bible from the people and substituted a petulant, violent, monopolistic, vengeful God who supports everything the wealthy class does to harm the modern equivalent of the Bible’s widows, orphans, and the poor.
(1) comment
Kim,
Everything you say may be true, but reality therapy says, you can't do anything about it when you can't get rid of the parasites in your own State legislature, mainly because there is no one of courage to stand against them and they wear a mask of religious power. Fine clothes, good food, and more money is their god and the environment, refuge for the sick and suffering, love and equality, only exist in a few pockets. The word Welcome is not on America's doorstep. The New Sign for those seeking refuge from pain and suffering at America's door now reads.
NO TRESPASSING: VIOLATERS WILL BE PROSECUTED TO THE FULLIEST EXTENT OF THE LAW>
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