For decades I’ve written and spoke on the effects of globalization and the damage done by the corporate-governance brand of economic policy. I’ve argued relentlessly in opposition to the now standardized argument which asserts that the deplorable state of domestic economics is directly due to the ill-gotten gains of the so-called One Percent. In fact the gains of the 1 percent are not at all the cause but the consequence of a global economic design.
In short, no nation can survive in an inverse economic environment. Where consumption far exceeds wealth, where wealth is concentrated in a narrow script of a national/global populace, where wealth isn’t created it is merely consumed, where accumulated wealth is not from effort but more so because it is being strip-mined for purely consumptive purposes and the numbers don’t lie.
A recent CBO report of 2011 income illustrates the point: Not only are the top 20 percent paying 100 percent of the entire federal tax burden of non-financed government spending which leaves 80 percent of the nation’s would-be tax payers, when offsetting government payments/receipts (for any number of Federal programs from which they receive benefits) paying nothing.
A link to an analysis of the CBO report follows.
