The new American class divide. Great read if you have the time.

[AU9377 4,960]

https://getpocket.com/explore/item/the-9-9-percent-is-the-new-american-aristocracy

This is a great read that dives into the deepening divide between the haves and have nots in America today.  When it comes to economic mobility, the United States is more like Chile or Argentina than Japan or Germany. We have to find ways to address this or we risk losing one of the defining characteristics of what it means to be an American.

The discussion explores the cartel like structures that run the American Medical Association and the American Bar Association, controlling who gets into the club and more importantly, who gets to work where they make a fortune and who doesn't.

 

[DKW 86 7,426]

[icanthearyou 4,463]

12 minutes ago, DKW 86 said:

Excellent.  Thank you.

Reality is actually much worse.

With all of their tax advantages, they now starve the government, shift the tax burden downward.  Since they ARE the ones who lend to the government, they are winning on both ends. 

Our debt creates an insidious tax by lowering the value of the dollar.  Not for them though, they are the ones collecting the interest.

THEIR POWER allows them to effectively tax all of society.

[DKW 86 7,426]

It is just the video attached to the article btw,

[icanthearyou 4,463]

1 minute ago, DKW 86 said:

It is just the video attached to the article btw,

I'm giving you full credit.  For 9377,,, nothing.

[AU9377 4,960]

14 hours ago, icanthearyou said:

I'm giving you full credit.  For 9377,,, nothing.

LMAO.... well done.....

[CoffeeTiger 5,114]

Thanks for the article. This was one of the best articles/analysis I've read in a long time.

Not all of the following points are particularly applicable to the articles stated 9.9% demographic,  as most of the people I've been around in my life living in rural Alabama have been of the lower-middle class Rural Conservative demographic that give the following common arguments against economic changes and reforms:

- We CAN'T increase wages or the minimum wage. Businesses will just pass down the extra costs to consumers and everyone will pay more for stuff. This is common sense economics...people are better off working at lower wages. 

- We CAN'T strengthen Labor Unions or encourage their growth! All this will do is cause all American businesses to move their jobs and money to other countries where they don't have to worry about snobby unions! It'll make things worse for everyone! This is just common sense economics. If a person doesn't like their pay, benefits, or work conditions they should just go find a new job instead of trying to form a Union and force the business to do something they don't want to do!

- We CAN'T increase taxes in any form on the wealthy! They are the job creators and build America into what it is. Taxes are a penalty on their hard work...they've earned their money (or their parents/grandparents earned it in the case of inherited wealth). Taxing them more will simply destroy any motivation people have to work, start businesses or become rich. Tax them as low as possible and they'll reinvest their wealth into Americas Future! This is common sense economics!

- We CAN'T offer free college or student loan forgiveness! When I went to college 40 years ago I payed my own way by working at the local gas station part time and got a 4 year degree with no student loans! Todays kids are just lazy and entitled don't understand work ethic or responsibility. If they took out massive loans they can't repay then that's their own damn fault and they should have to face the consequences of that decision they made at 18 years old even if it wrecks them for the rest of their lives. It's not our fault they couldn't be financially responsible. 

-We CAN'T have a nationalized healthcare system like every other modern Democracy on earth. That would destroy our economy that is based on massive profits for Insurance companies and healthcare administrators!  Besides "I" don't want my tax money being used to pay for the healthcare of the poor and stupid people who can't take care of themselves. Universal healthcare would just flood our heath facilities with the unwashed masses and create large backlogs for care to us responsible people who can pay for our own healthcare insurance. It would be no benefit to "ME" and so I don't believe anyone should have it. 

-We CAN'T update our house zoning and rental policies! That might decrease the value of MY HOME! I worked hard to buy this 2,000sqft for $70,000 decades ago. It's not my fault that affordable starter homes are no longer available in many parts of the country. My city and politicians better ensure my property values always go up or else they'll be hell to pay. Housing is much better when demand vastly outpaces supply....especially for us who already got ours when the getting was good! 

 

As the article mentioned.....many peoples views, whether they recognize it or not, are centered around the idea of protecting the wealth and assets THEY have, while making it harder for people who are "below" them economically to ever have chance to catch up and "take" what is rightfully theirs. 

The "American Dream" of the past is all but dead. We're an upward mobile society in theory only. Very few will be lucky enough to move upwards economically in their lives. Most people this generation will more likely stay at the level they were born into or lose economic standing. People have have the wealth will pass it on to their children and create laws and an economy and education system that ensures they alone have access to the tools and capabilities to keep and expand the wealth they have. Everyone else in America simply is a rat in the maze. Looking upward to a economic ideal they've been tricked into believing they can achieve, while trying desperately to stomp down on the ones below them from reaching and crowding up their rung of the ladder.  

Edited March 18, 2022 by CoffeeTiger