Poverty Knocks

Microdot asked me for suggestions for his playlist Working Class Heros…Or Else….

No matter that the US is still reeling from the biggest economic crisis since the 1930s. Inequality continues to grow. Wealth in America is now concentrated to a degree unprecedented since the Great Depression. The top 1 per cent of taxpayers – roughly those making $500,000-plus annually – now receive almost a quarter of all national income, and own more than a third of the country’s private sector assets.

The same pattern is visible in the financial sector, whose recklessness was the main cause of the crisis. Since the crash of 2008, the concentration of power in a handful of giant financial institutions has only increased. Attempts to break them up failed. Wall Street bonuses are back in dreamland.

Source The Independent

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