The End of Social Security
By Christopher R Rice
The U.S. was the largest creditor in the world. Now the debt is in the trillions of dollars. Trillions of dollars transferred from the worlds richest and most powerful country. This is a form of destructive economic management at a level of graft and corruption that has NO parallel. There’s nothing comparable to that in history.
The national debt is in the trillions of dollars, even our kids will never see it paid off. As the administration and Congress argue over cuts in social programs, inequality in America grows more extreme each day. Even the great financial crash didn’t derail this trend. The richest 400 Americans, for example, increased their wealth by 54 percent between 2005 and 2010, while the median middle-class family saw its wealth decline by 35 percent.
It’s not the result of mysterious global forces, or technology, or China, or structural problems concerning the skills and education of our workforce. Rather, it is the direct result of policy choices made by Democrats and Republicans alike.
The U.S. policy (includes tax policy, financial deregulation, trade policy, anti-labor policy, and much more.) for the past 30 years has been aggressively dedicated to shifting income share away from the poor and middle class and into the pockets of the already rich.
The top 1 percent of the U.S. population now owns about a third of the wealth in the country. Since the late 1970s wealth inequality, while stabilizing or increasing slightly in other industrialized nations, has increased sharply and dramatically in the United States.
Instead of taxing the Super Rich our politicians want to slash social programs, after school programs, instead of making corporations pay their fair share, our politicians want to take a knife to social security and Medicaid.
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