Here’s part of an article on the Super-Rich. The super rich are not doing you and me any favors, they are getting weathier and weathier at the expense of the middle class. Pretty soon there will be two classes of people - Poor and Rich. Wake up People!!!
"The Problem of the Super Rich
By Barbara Ehrenreich
June 12, 2007
There is a problem with the super-rich, several of them in fact. A bloated overclass can drag down a society as surely as a swelling underclass.
First, the Clemens example distracts from the reality that a great deal of the wealth at the top is built on the low-wage labor of the poor. Take Wal-Mart, our largest private employer and premiere exploiter of the working class: Every year, four or five of the people on Forbes magazine’s list of the ten richest Americans carry the surname Walton, meaning they are the children, nieces, and nephews of Wal-Mart’s founder. You think it’s a coincidence that this union-busting low-wage retail empire happens to have generated a $200 billion family fortune?
Second, though a lot of today’s wealth is being made in the financial industry, by means that are occult to the average citizen and do not seem to involve much labor of any kind, we all pay a price, somewhere down the line. All those late fees, puffed up interest rates and exorbitant charges for low-balance checking accounts do not, as far as I can determine, go to soup kitchens.
Third, the overclass bids up the price of goods that ordinary people also need–housing, for example. Gentrification is dispersing the urban poor into overcrowded suburban ranch houses, while billionaires’ horse farms displace the rural poor and middle class. Similarly, the rich can swallow tuitions of $40,000 and up, making a college education increasingly a privilege of the upper classes.
Finally, and perhaps most importantly, the huge concentration of wealth at the top is routinely used to tilt the political process in favor of the wealthy. Yes, we should acknowledge the philanthropic efforts of exceptional billionaires like George Soros and Bill Gates. But if we don’t end up with universal health insurance in the next few years, it won’t be because the average American isn’t pining for relief from escalating medical costs. It may well turn out to be because Hillary Clinton is, as The Nation reports, “the number-one Congressional recipient of donations from the healthcare industry.” And who do you think demanded those Bush tax cuts for the wealthy - the AFL-CIO? "
I have no idea why you are extolling the virtues of the super-rich, Humphries - unless you are rich, or idolizing the rich.