Many think the United States is the richest country in the world and we are told to have pride in that fact. But let’s drill down into that fact.
Where is that money located? It is in the hands of the rich, the oligarchs, the corporations and big businesses, in the financial and the insurance industries. The top 10% control 70% of the wealth while the lower 50% control practically none of it. In terms of the tax receipts, the public wealth of the nation, over 50% goes to the military, which subsidizes a huge military-industrial complex. That is not even to mention that within my lifetime the taxes of the richest US citizens have been reduced to barely a third of its former rate, greatly reducing the tax base and putting the burden on the middle and working lower class.
This incredible income inequality has shortchanged much of the society, resulting in:
· Crumbling infrastructure
· Homelessness
· Poor wages
· Underfunded social services, public services and schools
· Lack of attention to global warming, rising health costs, pandemics, prison reform, and social justice.
The glut of wealth has corrupted the political system creating a political elite who are beholding to those who fund their campaigns rather than to the citizens they are elected to serve.
In effect we have a system controlled and directed by an economic elite who are raiding the nation as though their wealth entitles them to do so, with little regard for the democracy which has been the very foundation of this nation.
The question should not be, “What can we afford to do”, but “What can we afford not to do” if we are to remain a democracy
This is a cautionary tale exemplifying the saying, “the love of money is the root of all evil”.
