Articles in the NY Times express wonder at gross economic inequality and how it could occur, but the causes are obvious.
1. Government largesse to corporations, and the destruction of unions, lead to a grossly lopsided power relationship.
2. Diminished taxes on wealth and corporate profit.
3. Corporate malfeasance, literally and figuratively, with C-level executive essentially deciding their own salaries. And what about back-dating? Steal a few million, but pay a small fine.
4. Use of public coffers for self-reward, the largest being the Iraq war itself, where the VP decided to have a war that rewards him and his cronies. Oilmen that disrupt the flow of oil to exaggerate their base's profits.
The list goes on and on....
There is nothing to wonder about.
Tuesday, October 13, 2009
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