A two-income family today is poorer than a one-income family was in the 1970s

[Peaceful Protester]

32. Vulture Capitalism

Last edited Sun Jun 24, 2012, 05:26 PM - Edit history (2)

Republicans believe in trickle-down economics and a predatory form of capitalism known as vulture capitalism. Trickle-down economics rely on deregulation to gush wealth to the top. Vulture capitalism relies on corporate raiders, leveraged buyouts and hostile takeovers. Republican policies enable greed, corruption and increasingly complex ponzi schemes to flourish. The result is a huge disparity in wealth and finally a financial crisis that crashes the economy.

The Republican policy agenda pursues deregulation and privatization. This eventually set the stage for people like Mitt Romney, who pioneered outsourcing, to go to work siphoning millions from the middle class. He made his money through managed bankruptcies. He bought businesses, laid off workers, outsourced their jobs, took their health care and pocketed their pensions. The money he took from them was parked in swiss bank accounts, offshore accounts, and in the bahamas.

NOTE: The financial crash wiped out 40% of Middle Class wealth.

(see http://www.democraticunderground.com/1002826853)