Unless the GOP changes, they are not going to win many Presidential elections in future. No matter how badly the Democrats run the country.
Nobody believes Paul Ryan cares about the poor.
Republicans are still mostly in favour of the rich getting richer, the poor getting poorer.
DEREK THOMPSON:
I’ve written, over and over, that the most important divide in our wealth disparity was between the 1 percent and the 99 percent. For example, when I compared the evolution in investment income since the late 1970s, I often imagined a graph like this from the Economic Policy Institute, showing the 1 percent flying away from the rest of the country.
It turns out that that graph is somewhat misleading. It makes it look like the 1 percent is a group of similar households accelerating from the rest of the economy, holding hands, in unison. Nothing could be further from the truth.
A few weeks ago, I shared this graph (from the World Top Incomes Database) showing how the top 0.01 percent—that’s the one percent of the 1 percent—was leaving the rest of the top percentile behind.
It turns out that wealth inequality isn’t about the 1 percent v. the 99 percent at all. It’s about the 0.1 percent v. the 99.9 percent (or, really, the 0.01 percent vs. the 99.99 percent, if you like). Long-story-short is that this group, comprised mostly of bankers and CEOs, is riding the stock market to pick up extraordinary investment income. And it’s this investment income, rather than ordinary earned income, that’s creating this extraordinary wealth gap. …
Unveiling the real story behind the richest of the rich
So why should the top .01% of Americans worry?
Soon there’s going to be a backlash.
60 Minutes revealed that the U.S. stock market is rigged:
in the last two weeks, the New York attorney general and the Commodities Futures Trading Commission in Washington have both launched investigations into high-frequency computerized stock trading that now controls more than half the market.
The probes were announced just ahead of a much anticipated book on the subject by best-selling author Michael Lewis called “Flash Boys.” In it, Lewis argues that the stock market is now rigged to benefit a group of insiders that have made tens of billions of dollars exploiting computerized trading. …
Steve Kroft: What’s the headline here?
Michael Lewis: Stock market’s rigged. The United States stock market, the most iconic market in global capitalism is rigged.
I’ve got nothing against rich people. Lebronne James has earned every penny.
But when I see a dork, stupid billionaire … I get suspicious.
How did this guy get rich?
It’s not smart. It’s not an efficient distribution of wealth to have so many dollars in the hands of so few people, many of whom do not deserve it.
The ultra rich should be prepared to move to that that retirement estate in Belize. 🙂
Rick McCharles 