RICH GET RICHER, MIDDLE CLASS BEING SHAFTED
RICH GET RICHER, MIDDLE CLASS BEING SHAFTED
By Domenick J. Maglio PhD. Traditional Realist
Presidents G.W. Bush and Barack Obama used radically
different pitches to appeal to their voting base although both increased the
size of government and did the bidding of the corporate world. Each in his
policies favored big business even though President Obama pretended to be an
adversary of the corporate world. The “too big to fail” motto echoed in the
Wall Street crisis in late 2007 as a definitive statement of the ties to the
corporate world and their abandonment of small businesses. “Crony capitalism” has been coined to describe
this symbiotic relationship.
Since the over $800 billion bailout, the “one percenters” of
the uber rich have increased their wealth by 28% while the middle class has
lost 5% of their earning power. There
have been an incredible 9+ million jobs lost in the past five years of the
Obama administration as well as a whopping 11.5 million unemployed and 4.2
million people who have been out of jobs for six months. Furthermore, the Obamacare
train wreck s going to have a negative financial impact on the middle class
especially the young adults.
The stock market has gone through the roof setting an all
time high with the aid of Federal Reserve’s, Ben Bernanke, increasing the money
supply each month by $87 billion. These
QE policies 1, 2 and 3 have devaluated our dollar and have kept the stock
market revved up for the 1%ers. Additionally the cheaper dollar has made it
easier for international corporations to sell their products overseas. Although it has made foreign items much more expensive
at home to the middle and lower class. We are being nickeled and dimed by
invisible taxation of regulations not representation, which is further
shrinking the middle class.
The ever-expanding safety net for the unemployed is
depleting the middle class. It has de-incentivized and demoralized many
citizens, especially the youth, working up the economic ladder. Even the meager number of jobs being created are
93% part time low paying positions primarily in fast food and retail marketing.
Thirty six percent of the millennial Y generation is still living at home.
Regardless of government and their pals in the media, the
economy is growing at a pathetic 1.4 growth rate (as usual will be revised
lower next month) and a 7.4 unemployment rate, which is actually hovering at
14-16%. This is a disaster for the middle class and a bonanza for big
government and corporate greed.
In the US according to an Associated Press survey, 4 out of
5 US adults will face joblessness, welfare or poverty at some point in their
lives. This widening gap between rich and poor is a natural outcome of the
fascist marriage between a centralized government and large corporations.
“Pay for play” opened up the floodgates of corruption of
government and the corporate world. Only the big corporations have the assets
for lobbying to gain favor with D.C.
The process of government co-opting corporations is not a
new phenomenon. The government can more easily enforce and control a smaller
number of humongous corporations that will comply with their questionable
regulations than deal with many independent self-made entrepreneurs. This hijacking of certain corporations by the
powerful central government leader results in a Mussolini or Hitler.
Small businesses are screwed in competing fairly against the
corporate world. The corporate lobbyist with the Washington ruling class
creates the laws that favor big business. Small businesses are a nuisance to an
autocratic government and need to be suppressed. This government manipulation
of regulations and tight money policies for small business has significantly
reduced their ranks in the middle class.
This insidious partnership between big government and the
corporate world is beneficial to both of them and the “one percenters” who are
heavily invested in securities.
Remember America the land of freedom and opportunity has
produced the greatest and most prosperous middle class in the history of man. Presently
the middle class is being dismantled and shafted.
Dr. Maglio is an author and owner/director of Wider Horizons
School, a college prep program. You can visit Dr. Maglio at
www.drmaglio.blogspot.com.