Tuesday, December 2, 2008

Picking the pockets of the rich.

It's a startling statistic from the New York Times. Corporate profits have doubled since recession gave way to economic expansion in 2001. Employee productivity has risen more than 15 percent since then. But the average wage for the typical American worker inched up just 1 percent (after inflation).

So, where has all the money gone? Well, I'd look into the pockets of the rich. The gap continues to widen between the rich and the poor. Maybe the rich are losing some of their money in the recent economic downturn. But for the most part, they are still rich. Because they had so much to start with. And the poor are still poor. Because they didn't share in the profits of so-called good times. But that's the nature of a capitalist society...and why I'm calling for a socialism that benefits the poor and middle classes while picking the pockets of the rich. --Jim Broede

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