Saturday, 10 August 2013

The United States again - Soon the poor will have nothing to eat but the rich

Via two New York Times blogs -

This has been a trend for quite a while. US Companies thrive and workers fall behind. Productivity rises way beyond worker wages. And now through accounting tricks - like depreciating R&D like regular investment and that jiggery-pokery with pensions - corporate profits and personal incomes are made to look a lot larger than they really are.

What I especially love is this part -

The flip side of that is that corporate profits after taxes amounted to a record 9.7 percent of G.D.P. Each of the last three years has been higher than the earlier record high, of 9.1 percent, which was set in 1929. 

Well, why am I not surprised?

And now there's this -

Well, soon those poor will have to eat the rich Republicans for food, I suppose. If this kind of war against the poor goes on, the America I once knew will be a poor, unequal, class-divided and far-gone land. There's no salvation at all when there is such an inequality in terms of power. 

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