For Shame, Wealthy America: Some Facts About the Victims of Your Greed

PAUL BUCHHEIT FOR BUZZFLASH AT TRUTHOUT, 2/11/13

Yes, you’ve caused people to suffer. You’ve taken from the poor and the middle class for thirty years, from Reagan to Obama, using a variety of strategies to redistribute wealth to the top. Yet you insist that the middle class should accept cuts in Social Security to pay off the deficit.

Here is the effect of your funds transfer:

In 1983 the poorest 47% of America owned $750 billion dollars, $15,000 per family, 2.5 percent of the nation’s wealth.

In 2009 the poorest 47% of America owned ZERO PERCENT of the nation’s wealth (their debt exceeds their assets).

Your thirty-year redistribution of wealth has most severely impacted four particularly vulnerable parts of American society.

1. Children

One out of every five American children now lives in poverty. A country that considers itself the greatest in the world is last among developed nations in providing the everyday needs of its youngest and most dependent citizens.

The poverty level for U.S. children is up 50 percent since 1973….

continue reading at BUZZFLASH AT TRUTHOUT

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