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August 24, 2006 at 18:31:08

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A Little Poverty Never Hurt Anybody

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By Jason Miller (about the author)     Page 3 of 4 page(s)

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"In terms of types of financial wealth, the top 1 percent of households have 44.1% of all privately held stock, 58.0% of financial securities, and 57.3% of business equity. The top 10% have 85% to 90% of stock, bonds, trust funds, and business equity, and over 75% of non-home real estate. Since financial wealth is what counts as far as the control of income-producing assets, we can say that just 10% of the people own the United States of America."

And thanks to the Bush administration, that 10% is maintaining a firm grasp on what they own.


Pernicious and Enduring Lies

The predator class pacifies its subservient underclass with the myth that in the United States and the satellite "free market economies" it has established (at gun-point or through the subversive activities of the CIA), everyone can become a successful entrepreneur by starting their own business. Yet like the lie that all impoverished individuals except widows, orphans, and the infirm are responsible for their own circumstances, this malicious fairy tale ignores several realities. Like the fiction about the impoverished, it assumes that all people are on a level playing field. However, that notion is far removed from reality. Some people have a higher quality education than others. Individuals receiving a high degree of support from friends and family are much more likely to succeed than those who have little or no support. While some starting a business have financial resources behind them, others have virtually nothing but their drive and ideas. Market forces, weather patterns, competition, health, and many other variables can serve to make or break a "budding capitalist". And no two people are alike or face the same conditions.


Approximately 150 million of those young and healthy enough to work in the United States earn a wage or salary. (Versus a relatively paltry figure of 20 million who are self-employed). 85% of small businesses fail within 5 years. Corporate leviathans like Wal-Mart and Microsoft have defied anti-trust laws to crush myriad competitors, including many small entrepreneurs. Horatio Alger success stories are none too plentiful in the "land of opportunity". And the grim reality is that the Goliath corporate giants usually prevail against the David small businesses.

In 2003, the average worker in the United States was netting $517.00 per week. How much were CEO's taking home at that time? A mere $155,000. 52 times per year. That is a staggering 301 to 1 differential. In 1982 the ratio of CEO to average worker pay was "a mere" 42 to 1. From 1990 to 2003 US corporate profits rose 128%.

To further appreciate the obscene avarice of the world's plutocracy, consider that the average garment worker in Bangladesh earned 13 cents per hour in 2004. The "10% of the people who own the United States" and their counter-parts in nations around the globe are doing very well thanks to the blood, sweat, and tears of the remaining 6 billion or so human beings on the planet.


Incorporating their Avarice

Corporations are the Holy Grail for the rich and powerful. They provide moneyed individuals investment vehicles which afford them extremely limited personal liability, financially and criminally. By the late 19th Century in the United States, corporations had acquired many of the legal rights of a human being. Despite their roots in British colonialism and the deep apprehensions of founders like Thomas Jefferson, corporations have come to dominate the United States and much of the world culturally, politically, and economically.

Jefferson's expression of concern to George Logan in 1816 was well-founded:

"I hope we shall crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government in a trial of strength, and bid defiance to the laws of our country."

Not only was the aristocracy of moneyed corporations born. Its power has grown to such monstrous proportions that it has virtually crushed the life from a still relatively nascent social experiment based on democratic ideals and Constitutional law.

According to the Center for Public Integrity, the pharmaceutical industry alone has spent $675 million lobbying the government to shape public policy over the last seven years. The insurance industry spent even more if one includes campaign donations. Through their corporate proxies, the moneyed elite invest a great deal in the United States' political system. They expect and receive a great deal in return.


"Defending" the predator class is an expensive proposition

Spending at a clip of $600 billion per year (including Iraqi Occupation costs), the United States accounts for 50% of the world's military spending. As George Bush (the current public face of the world's plutocracy) so sagely reminded us, "Free nations are peaceful nations." To manufacture the many instruments of peace which prove how free we are, the United States relies on 737 defense contractors, sometimes known as the military-industrial complex. Of those 737 contractors, a mere five have received government contracts totaling $284 billion over the last six years. Lockheed Martin, Boeing, Raytheon, Northrop Grumman, and General Dynamics do quite well at the public trough. Halliburton has also fared nicely since former CEO Dick Cheney took office and helped lie the United States into the Iraqi Occupation. Facilitating killing is their business, and business is good.

Sedating the masses with consumerism, spin, fear-mongering and historical revisions; lobbying heavily; donating huge sums to political campaigns; and maintaining the military industrial complex are powerful means of securing the seats of power in DC and Tel Aviv. However, the predator class has yet another weapon at its disposal: the revolving door between government and major corporations. Men like Donald Rumsfeld and Dick Cheney are but two stalwarts of the privileged class who have traversed back and forth from roles of great influence in major corporations to positions of power within the government. But they are not pioneers. Theirs is a path blazed by many before them and almost certain to be followed by many after them.

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Jason Miller, Senior Editor and Founder of TPC, is a tenacious forty something vegan straight edge activist who lives in Kansas and who has a boundless passion for animal liberation and anti-capitalism. Addicted to reading and learning, he is mostly (more...)
 

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Outstanding by Richard Mathis on Friday, Aug 25, 2006 at 8:39:13 AM
This article should be published in Atlantic Monthly by Mark Sashine on Friday, Aug 25, 2006 at 6:32:48 PM

 
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