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By now you are probably familiar with the “sucking sound” heard around the country since the crash of 2008. The sound you hear is the 1% sucking on the dried up teets of the American middle class and driving it into near extinction.
It started in the 80′s when an ex light bulb sales pitchman, turned B-movie actor, was elected President;
Ronald Reagan, the 40th U.S. President (1981–1989), called for widespread tax cuts, decreased social spending, increased military spending, and the deregulation of domestic markets.
“Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,”
“Meanwhile,” he added, “the excluded are still waiting.”
French economist Thomas Picketty’s book “Capitalism in the Twenty-First Century” which has topped Amazon’s best-seller list examines decades of historical data from 20 countries to compare income inequality over time and concluded that;
The U.S. economy has seen the wealth of the 1% grow to dizzying new heights. Wealth isn’t trickling down as some argue, Piketty said. Moreover, he warns that rising inequality will undermine democracy and generate discontent.
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