The title to this article is so obvious and simple, most grade school children could easily write this article as an assignment for class.
Since 1973, the effective wealth of the middle-class though lower, kept in pace with the wealthiest individuals. We all benefited. From 1947 to 1973, the wealthy and middle-class pretty equally shared in growing incomes. Look at the following chart, which displays income growth of the top 1%, the highest fifth, the middle fifth and the bottom fifth.
The top 1% had an increase in income from 1979 of 281%. The highest fifth had an increase of 95% in income gains. The middle and bottom fifth rounded out the the stats with 25% and 16% respectively.
Yet here we are today in 2011 with things worse for the middle-class and better for the wealthy than anytime in our country’s history. The biggest joke of this is the do-nothing, block-Obama-at-all-cost congress is how they are trying to put the blame on the President. During mid to late August of this year, all the Republicans could do was complain that the President has absolutely no plan whatsoever to heal our economy and get our people back to work.
Oh really? President Obama promised a comprehensive jobs plan, not just an outline but something that could be voted on. Well, we don’t hear any complaints about Obama not having a jobs plan. Instead we have the GOP dismissing everything in the Obama jobs plan. Even the tax holidays.
This GOP Congress has such hatred for our President like I have never seen before in my lifetime. I am not the only one who notices this. Even Republicans like Joe Scarborough are dismayed at how the Tea Party GOP have handcuffed the President. They are nuts enough to allow our government to go into default if they choose to. They have no problem playing Russian Roulette with our economy, jobs, safety and social safety nets. How do you reason with crazy people? Whenever possible, expose them.
Remember Rep. Joe Walsh who would not vote to increase the debt ceiling? It ended up coming out that he was a deadbeat dad who owed over $100,000.00 in back child-support. By the way, the Family Research Council for Family Values. This was because he defends family values (except his own).
How about the homophobic deadbeat dad Joe “the plumber” Wurzelbacher? He feels comfortable to go around and call gay people “queers”. Now he is running for congress! Hey, did Joe ever buy that company that was going to make $280,000.00 or more and possibly be taxed higher under Obama? No, of course he didn’t. He was talking out of his rear orifice. His credit and financial situation would never have allowed him to leverage a buyout of a company of that size. So, he was nothing but a plant in the crowd to try to stump Obama and get him to admit that he is raising taxes. Now Joe “the plumber” is looking for a government job with free health care, good benefits and pension. Joe “the Plumber” is the biggest freeloader of all. Because we know who’s pocket he is going to be in. And don’t plan on him doing anything to get wage parity between wealthy and middle-class.
One last point I thought of. Why do a majority of wealthy people prefer higher taxes for themselves? Could it be that if the economy is booming, middle-class are buying and money is flowing, a wealthy individual would take home more at a 39.5% rate on $10,000,000.00 than at a 36% rate on $5,000,000.00? We are all better off if we all work together and all make some money. And don’t forget, 2/3 of the U.S. economy is based on the middle-class consumer.