'Let us fight back against massive income and wealth inequality. Let us fight back against a corrupt political system.'—BernieSanders
Let's be clear. The most important economic and political issues facing this country are the extraordinary levels of income and wealth inequality, the rapidly growing concentration of ownership, the long-term decline of the American middle class, and the evolution of this country into oligarchy.We know how important these issues are because our ruling class works overtime to prevent them from being seriously discussed.
Since 1975, there has been a massive redistribution of wealth in America that has gone in exactly the wrong direction. Over the past 47 years, according to the Rand Corporation, $50tn in wealth has been redistributed from the bottom 90% of American society to the top 1%, primarily because a growing percentage of corporate profits has been flowing into the stock portfolios of the wealthy and the powerful.
In terms of higher education, we should remember that 50 years ago tuition was free or virtually free in major public universities throughout the country. Today, higher education is unaffordable for millions of young people. There are now some 45 million Americans struggling with student debt. Today we have more concentration of ownership than at any time in the modern history of this country. In sector after sector a handful of giant corporations control what is produced and how much we pay for it. Unbelievably, just three Wall Street firms control assets of over $20tn and are the major stockholders in 96% of S&P 500 companies. In terms of media, some eight multinational media conglomerates control what we see, hear and read.
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