How Inequality Has Soared in the US

If you want to get some idea of why the 99 per cent movement has attracted so much support in the US, just take a look at this graph. Over the last thirty years, the share of income taken by the top 1 per cent of Americans has risen from 10 per cent to 23.5 per cent . . . As you’ll notice, from the 1950s onwards, income distribution in the US remained broadly stable until the Thatcher-Reagan revolution. The neoliberal policies pursued by the Reagan administration – tax cuts for the wealthy (the top rate of tax was reduced from 50 per cent to 28 per cent), deregulation and privatisation, led to a dramatic rise in inequality.
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Quote: Michael Parenti

Michael Parenti, Ph.D., (born 1933) Political Scientist,
Political Scientist, Historian, Author, Lecturer, and Culture Critic

Wealth is pursued without moral restraint. The very rich try to crush anyone who resists their endless, heartless, unprincipled accumulation. Like any addiction, money is pursued in that obsessive,  amoral, singleminded way, revealing a total disregard for what is right or wrong, just or unjust, an indifference to other considerations and other people’s interests–and even one’s own interests should they go beyond feeding the addiction.

Thus it is necessary and desirable to have laws to protect the environment, workers’ lives, and consumer health because big business has a total indifference to such things, and–to the extent that they cut into profits–an outright hostility toward regulations on behalf of the public interest. We sometimes forget how profoundly immoral is cooperate power.

Michael Parenti, Blackshirts & Redshirts, (City Light Books, 1997), 154. 

Quote: Michael Parenti

Michael Parenti, Ph.D., (born 1933)
Political Scientist, Historian, Author, Lecturer, and Culture Critic

U.S. commitments are not to the ordinary people of other lands, but to the privileged reactionary factions that are most accommodating to Western investors . . . right-wing government maintains the existing privileged order of the free market, keeping the world safe for the empowered hierarchies and wealthy classes of the world.