Of The 1%, By The 1%, For The 1%

Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret. Full Story »

Posted by Jon Mitchell - via Dave Winer, Peter Daou, Arianna Huffington, Umair Haque, Siva Vaidhyanathan, Tim O'Reilly, Memeorandum, JR Russ (t), barbara trummpinski-roberts (t), Margot Palmer (t), Thanh Tran (t), Jon Mitchell (t), Megan Taylor (t), Fabrice Florin (t), Gian Antelles (t), Josh_Young (t), Kaizar Campwala (t), Donica Mensing (t), David Fox (t), Jeffrey Hulten (t), Jeremy Caplan (t), Umbreen Bhatti (t), Sirajul Islam (t), Mark Pegrum (t), Shakthi Sivanathan (t), Jason Samfield (t), Johan Jessen (t), Seth Roberts Farber (t), Jeppe Kabell (t)

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Review

Andre Heinemann
3.7
by Andre Heinemann - Apr. 3, 2011

Well-written opinion piece comparing wealth distribution in troubled countries with wealth distribution in the United States. From a journalistic point of view the story would have benefitted from links and sources, however it is argued well and offers compelling conclusions, highlighting a topic, which seems to be mostly ignored by the mainstream media.

Journalistic comments aside, I whole-heartedly agree with the author and am wondering myself why the American public hasn’t yet woken up from their slumber. It is hard to imagine that one can watch news coverage about northern Africa without being touched by the events and reflecting on the situation in our own country; a self-perpetuating hijacked political and financial system benefiting only a few on the backs of everyone else, with our misguided foreign policy effecting the rest of the world.

Virtually all U.S. senators, and most of the representatives in the House, are members of the top 1 percent when they arrive, are kept in office by money from the top 1 percent, and know that if they serve the top 1 percent well they will be rewarded by the top 1 percent when they leave office. By and large, the key executive-branch policymakers on trade and economic policy also come from the top 1 percent. When pharmaceutical companies receive a trillion-dollar gift—through legislation prohibiting the government, the largest buyer of drugs, from bargaining over price—it should not come as cause for wonder. It should not make jaws drop that a tax bill cannot emerge from Congress unless big tax cuts are put in place for the wealthy. Given the power of the top 1 percent, this is the way you would expect the system to work.

We need a United States 2.0

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Andre's Rating

Overall
3.7

Good
from 21 answers
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3.8
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3.0
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3.0
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4.0
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5.0
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2.0
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4.0
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4.0
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3.0
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5.0
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4.0
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5.0
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2.0
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4.0
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5.0
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2.0
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4.0
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3.5
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4.0
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3.0
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