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The Dow and the Down and Out

Posted by Robert Greenwald, Brave New Films at 8:23 AM on October 16, 2009.


The top 1 percent owns more wealth then the bottom 90 percent. CEOs of large corporations earn 400 times what their workers make. That is not what America is supposed to be about.

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While markets surged past 10,000, the official unemployment rate stood near 10 percent. The United States is in a unique historical position. People on top are doing extraordinarily well, but in the real world the middle class is collapsing. The top 1 percent owns more wealth then the bottom 90 percent. CEOs of large corporations earn 400 times what their workers make. That is not what America is supposed to be about. With all the issues we are dealing with -- from health care to global warming to wars in Afghanistan and Iraq – please do not forgot what is happening to tens of millions of our brothers and our sisters out there who are struggling hard to keep their heads above water.

Senator Sanders Unfiltered is a weekly web program produced by Brave New Films. Submit your own video question for next week's show here.

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Robert Greenwald is a producer, director and political activist. His new media company, Brave New Films, is currently focused on making short videos like the FOX Attacks (FoxAttacks.com) and The REAL McCain (TheRealMcCain.com), which educate and empower viewers to take action and have been seen by millions.


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Yea, We can top Zimbabwe in 2010!!
Posted by: amacd on Oct 16, 2009 2:07 PM   
Current rating: 5    [1 = poor; 5 = excellent]
Looks like the US is well within reach of finally beating Robert Mugabe's dictatorial kleptocracy of Zimbabwe in 2010 with a higher GINI Coefficient of Income INEQUALITY of over 0.53.

Yes, the US is certainly way above all advanced social democracies in Europe and Japan --- which have low, fair and egalitarian GINI Indexss of 0.23 to 0.31.

And we've certainly beat out the former Soviet Empire's oligarchs in Russia at their middling GINI rank of 0.41, and the reformed "Corporate Communist" China at GINI 0.46.

We've even smashed through that supposed barrier that our CIA warns of at GINI 0.45, where civil disobedience and revolution set in among most country populations --- but not us.

Rather, under our new 'fair and balanced', 'hope' and 'change' President Obama, we pulled together with Wall Street, and it finally looks like 2010 will be that year that America, 'our former country now controlled by a ruling-elite corporate/financial EMPIRE which hides behind the facade of its two-party 'Vichy' sham of democracy, can at last overtake Zimbabwe (currently running at 0.53) as the champion of high GINI Coefficiency of Income INEQUALITY!!

Let's really 'hope' that this 'change' that is aided by Obama, with his refusal to even whisper the word corporate EMPIRE (or as Dylan Ratigan bravely shouts on MSNBC, "Corporate Communism") will allow us in the U.S. to finally shout --- "We're number one --- in income inequality"!!!

I know it's been a long hard fight, but with the help of this corporatist EMPIRE, and with Obama's yeoman efforts in keeping the EMPIRE hidden and 'firing on all cylinders', that we the peonized serfs of working-class Americans can finally get the low-wage slave status and recognition that we deserve in being the highest GINI ranking of Income INEQUALITY in the whole world --- and that Obama can lead us in some sort of national TV celebration or Kennedy Center fireworks display in Washington DC, maybe with Obama reprising Mikey Mercury of 'Queen' in a resplendid singing of "We are the Champions of the World ---- in Income INEQUALITY"

I'm already feeling the warmth, love and electricity in the air.

Alan MacDonald
Sanford, Maine

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America was supposed to be about democracy, power to the people
Posted by: masthead on Oct 17, 2009 12:59 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
but the american version of capitalistic democracy is proving to be the very opposite. on my last trip to america, i couldn't get away soon enough. what a pity such a great country has come to this. america has become a huge mistake and gore vidal could be correct, that the country will soon turn into a dictatorship.

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» Freedom isn't free Posted by: leafsong1
MY INFORMATION
Posted by: CLARENCE SWINNEY on Oct 17, 2009 8:53 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
what I submitted to him this week

Rape of Middle class from 1980 to 2009

SOLUTIONS--
A. Remove Social Security Cap--Why should very rich pay 1/1000th and Middle Class pay 6.2%
B. Increase Dividend Tax from 15 to 28%. Capital vs Labor. Be Fair.
Coal Miner pays 28% and man sitting on butt pays 15% Labor is as important as capital.
Try doing without either.
C. Estate Tax Increase.
D. Increase Corp profit Tax.
E. Public Finance Elections.--Candidate cannot use any money except that given by the public.
F. Wall Street—Revert back to selling stock to raise funds for corporations to create jobs. Eliminate the operations which are mere Gambling in a Rich Man’s Casino. Want to gamble go to Las Vegas.
G. Rebuild strong unions to get labor a fair share of profits


Those suggestions will return us to Democratic Philosophy of PAY YOUR WAY.
Go away from Republican philosophy of-- Spend and Borrow Let Kids Pay Tomorrow.

1945 to 1981--Each percentile increased in Wealth and Income almost evenly in percentage. This is known as the GREAT MIDDLE CLASS years.

Reagan big tax cuts of 60% (70 to 28) for Richest, 40% to Big Corporations -Dividend Rate for Wall Street.
Tax Increases of biggest in history the Social Security Tax Increase--A Tax on elderly on 50% of Social Security Income--Five cent tax on Gas.

Bush Big Tax cuts for Very Rich.

RESULTS
from 1980 to 2007

Top 1% got 35.4% of Total Wealth Increase
Top 1% got 44.1% of Total Income Growth

In 2007 a not so pretty picture

NET WORTH

top 20% owned 85% of Total Wealth and bottom 80% owned 15%
Of nonhome wealth top 20% owned 93% and 80% owned 7%
top 20% got 60% of Total Income and 80% got 40%

The Financial sector had never earned more than 16% of our Domestic Profits.
From 2000, it averaged 41% of all profits earned by businesses in the nation.
This growth was All Wall Street not local banks.
Two-thirds of all income gains from 2002-2007 flowed to top 1%.
Consequently, the Median Income for ordinary person actually dropped by $2,197 per year since 2000.
In 2007 the top 50 Hedge Casino Managers averaged $588 million each in annual compensation and paid a 15% Tax Rate while their secretaries paid 28% rate.

It is now clear that the increasing dominance of the Financial sector-including the big insurance companies-and its deregulation-has become a mortal danger to our economic security.


It is a disaster for the future of the huge Middle Class. A small few own the majority.

Will we ever get a Congress and President willing to do what is FAIR?

Redistribute the Income and Wealth. Create another Great Middle Class and Good Standard of Living without a burden of debt. Affordable Housing-Education-Health Care
and fair paying jobs. 100 million families are more important than 10 million.

I fear for our future. I pray for change of direction.

clarence swinney
political historian
Lifeaholics of America
author-Lifeaholic--workaholic to lifeaholic success
author unpublished-All American Party-How Democrats created a Great Middle Class
and Conservatives are determined to destroy it.

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Yes, IT IS!
Posted by: jende on Oct 19, 2009 10:38 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
That's exactly what America and the human species is about.

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What will it take..........
Posted by: Spiritgirl on Oct 21, 2009 9:09 AM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
What will it take:

For all of US to realize that WE are in this together!

For us to put aside "culture differences" to fight for the moral right of ALL to exist!

For those with the "herd mentality" to realize that they are being used by the Oligarchy!

Will it take the "Empire" to fall, or more "Americans" to fail before there is a collective action!

Or will it take our Chinese & Arab bankers, you know, the people that are funding our debt to say "NO MORE"!

Before all Americans are willing to step up and realize that we have got to collectively fight back these barbarians behind the cage where they belong!

Will it take another "American revolution" for those privileged few at the top to come tumbling down!

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