When the rich rob the poor it’s called business.
How many times have you heard that line? Well, it’s a pretty apt description of the economy of the United States, and in the same way that that line describes business, the financial crisis we are all going through today is a classic example of when the rich rob the poor. It’s a case of rich people taking advantage of the poor, and in the process of robbing them of their savings and incomes, they’ve also robbed the American working class of their ability to make a living.
Well, there is a very real connection between the two, and the fact that we have so much wealth is one reason that people complain about this situation so much. It’s also one reason that we’re seeing a resurgence of the American Dream, something that hasn’t been seen since the Depression.
Its a problem because the rich and the middle class are the ones who tend to be the ones who are the most victimized by it, and its a problem because it has a very real and very serious impact on the lives of Americans.
The same logic that leads to the rich and the middle class having less free time, less opportunity, less freedom leads to some of the richest people in the country robbing the poorest people for their money. They feel like they have more money while they are able to do the same things that their wealthy counterparts have done for decades, and they get less time to enjoy it.
Business is the most profitable sector of the economy. Many businesses are built upon a foundation of wealth. The average American has a net worth of around $50,000, a figure that has been rising for decades. But in recent years, that number has been increasing all the time. In the ’90s, the top 1-percenters owned as much wealth as the bottom 90% combined. Today, the top 1-percent is worth around $1.2 trillion.
Not all wealth is created equal. But the richest of the rich have been able to accumulate more than the rest of us, and they have the ability to take over businesses. According to a recent study by the Institute for Policy Studies, the top 1-percent controls 40 percent of all American wealth. And this isn’t just about the top 1-percent. The top 1-percent is also responsible for a third of the wealth accrued by the top 2 percent and the top 4-percent.
Most of the money that the top 1-percent has been able to create has gone into buying its way into the stock market, or into borrowing that money from the government to buy investments. The top 1-percent is also the top 0.1-percent, which gives them a lot of power when it comes to influencing the public. It’s not a surprise then that a small group of people in the top 0.
With the power of the 1-percent, it’s no wonder that the economy has been on the brink of a crash. According to the latest data from the Bureau of Labor Statistics, the 1-percent accounted for almost 50 percent of the increase in unemployment over the last year while the 0-percent accounted for almost 25 percent of it.
The number of millionaires in America is growing by about 200,000 a month, and I’m not sure how anyone can remain oblivious to the fact that the 1-percent is about to make massive gains. Our economy seems to be on the cusp of disaster and we’re being robbed by the rich. It’s time for our leaders to wake up and realize that what they’re doing is destroying our economy and the wealth of the 1-percent.