Wealthy, Very Wealthy and Obscene Hoarders: Time for a Change

In the last few years, it was determined that being wealthy required about $3 million dollars. Now $30 million would make someone very wealthy. Thus, more than $100 million would make someone obscenely wealthy and more likely Obscene Hoarders.

Since the Middle Class produces the vast majority of the gross domestic product, why is it that the vast majority of the generated profits go to those that aren’t in production such as managers or investors? It is because corporate governance is by these same managers and investors. Corporate Board of Directors define incestuous, self-profiting relationships.

Now the 1% that receives most of national revenues claims they “earned” it and that every American has the same opportunities. Nothing is further from the truth. Ironically, many inherited their wealth. No one has a choice of parents.

Ask how many of these 1% would be willing to give it all up and generate their wealth again? I doubt any would be willing to start again especially given the laws they have sponsored to divert revenues to the 1%. In truth, probably 1% of 1% Revenue Hoarders really generated their own obscene hoards. The other 99% had parental wealth or friends to given them a head start. If nothing else, they had the advantage of being white and have educated parents. That in itself is enough to given them occupational advantage in the mid- and late 20th century.

It is time to restore paying the vast majority of profits to those who generate them. Only this will restore the balance of income. In the meantime, the 1% should pay their fair share of current and back taxes from illegitimate tax cuts.

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