Monday, Jan 04, 2010
Class war by the rich on the workers
Before Its News: How Average Americans are Lured into Debt Servitude by Promises of Mega Wealth
What has happened in America is now happening in the UK. The top 1% of Americans own nearly half of all assets and the gap is widening. We are slowly turning back into a Victorian society. where the poor live in debt servitude with no assets. The rich just need to own assets and live off the monopolistic exploitation of those assets. The elite control government policy and have systematically lowered their tax burden and transferred it on to those who have to work for a living.
And for those thinking Dave Cameron will help - you can forget it, he is going to increase the transference of the burden of taxation onto those that are productive in society and give tax breaks to those that exploit monopolised assets for a living.
Posted by the number cruncher @ 09:13 AM (622 views) Add Comment
3 Comments
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1. tenant super said...
Refering to the bailouts "This was not the rule of a capitalist system but a corporate run government. ... We ended up bailing out the worst performing and troubled companies thus keeping alive companies that should have completely failed. Did we bail out Google? Proctor and Gamble? Of course not."
This to me is the root of the rot.
2. cat and canary said...
a lot of data for the UK from 2006/2008 can be found on:
http://www.statistics.gov.uk/downloads/theme_economy/wealth-assets-2006-2008/Wealth_in_GB_2006_2008.pdf
figure 2.2 (on page 8, or pdf page 37) says it all really: top 10% own about £4Tn (~45% of total UK wealth). Most of which is concentrated in property and pensions
3. mark wadsworth said...
This is of course the inevitable end result of Home-Owner-Ism.