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Response to hfojvt (Reply #54)

Mon Dec 26, 2011, 08:38 PM

70. The top 20%?

 

See the problem is that the scale really is logarithmic but the crude partitioning into percentiles isn't. Even 'the 1%' grossly misstates the problem. See the OP post re what the people at the actual top are taking home - they are taking home on the order of one billion or more, or spreading it out a bit, 100s of millions. And that doesn't accurately reflect accumulated wealth, which is a separate but related measurement, where the inequality and skew to the high end and the massively small size of the cohort at the top is even worse than income.

99% of the top 20% are not participating in the feeding frenzy of the New Gilded Age, even if they are better off than you and me, they are really just 'professionals' or 'managers' or other high paid work categories. They aren't the problem. They may be aiding and abetting those that really are the problem, they may be voting for more of the same, but then again given the choices who isn't?

The point is that all most all of us are really in the same boat: we are all part of the hollowing out of the middle class and the crushing race to the bottom that the neolibs have dragged us into. We are all watching our paychecks stagnate, our houses depreciate, our costs escalate while the official measures of inflation state otherwise. Divide and conquer. They have the working class in this country ready to kill each other. The plutocrats and oiligarchs are laughing, rolling on the floors of their luxury yachts as teabaggers line up to fight occupiers. What a hoot.

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