Plutocracy And A Dystopian Future For Our Children

[TexasTowelie]

The wave of super-charged economic inequality-- spurred by uncontrolled greed and avarice and abetted by sold out politicians-- isn't just drowning the American middle class. This week, the British are being told to get ready for a grim future, with no chance for the vast population to "claw their way out of a hand-to-mouth existence."

Rising house prices will see the British middle classes disappear within 30 years, leaving behind a tiny elite and a huge proletariat, a Government adviser has warned.

David Boyle, a fellow of the New Economics Foundation think tank, said that for many young people today owning their own home was a pipe dream… [H]e said that the traditional middle classes would have to work multiple jobs-- with scarcely any leisure time-- just to be able to pay rent.

…“We won’t own our own homes, we won’t be able to afford it.

“It will constrain our dreams and constrain the dreams of our children. It’s a new kind of economy where there are no middle classes at all.

“Nobody in society will have the kind of space in their lives, space in their homes, space in their careers for any kind of culture at all, because we will be having three or four jobs to make ends meet.

“I think it will impoverish society, make it more intolerant and make it more difficult to live.”

The video up top is Bill Moyers' interview with economist Joseph Stiglitz, who has written a new white paper for the Roosevelt Institute showing how that paying our fair share of taxes and cracking down on corporate tax dodgers could be a cure for the kind of inequality-- and a faltering economy-- that David Boyle is warning his British countrymen about above and that Piketty talks about in his new book, Capital. Apple, Google, GE and a host of other Fortune 500 companies, he asserts, are creating what amounts to "an unlimited IRA for corporations," some of them paying no taxes whatsoever. This results in vast amounts of lost revenue for the U.S. treasury and the exporting of much-needed jobs to other countries in an endless race for ever cheaper labor costs. Stiglitz insists that there's an ethical issue of corporations using our national resources without paying for them. He says corporations like Apple are willing to take from our country by using "the ingenuity of America, based on the Internet, created, in large measure, by government spending, but not to give back" by paying their taxes. Stiglitz paints as frightening a picture of a plutocratic future as Boyle:

- See more at: http://downwithtyranny.blogspot.com/2014/05/plutocracy-and-dystopian-future-for-our.html#sthash.G2DinkUl.4cUO2uck.dpuf

[blkmusclmachine]

1. Austerity Now! Austerity Forever! And More Bailouts for the 1%!

[Octafish]

2. Taxes are the price we pay for civilized society.

Middle classes, anyone?

[reformist2]

3. The public eventually will rise up and take back everything that is rightfully theirs, all at once.

Not just their rights, but their money, and their property.

[BillZBubb]

5. Don't bet on it.

Too many worship those who are fleecing them. Too many are willing participants in the scam. Too many are sidetracked by side issues and scapegoats.

Even if "eventually" is a very long time, it won't happen here.

[bvar22]

4. I disagree with only one comment.

He says:
"It will constrain our dreams and constrain the dreams of our children. It’s a new kind of economy where there are no middle classes at all."


This isn't new at all.
This is simply a case of Those who do not know History,
are bound to repeat it.