By Henry McRandall
WRISEUP.COM
The current congressional deadlock over raising the United States government’s debt ceiling has made one thing perfectly clear: While the socioeconomic elite are quite happy to claim all their country’s economic gains they are not too thrilled about sharing in its fiscal pains.
Once upon a time there was a rationale for Amerikkkan corporate capitalism’s enormous profit margins: The capitalists were actually risking their own money to create new wealth that all could share in.
But that is no longer the case. After 30 years of a cruel corporate capitalist agenda served equally well by neoconservative and neoliberal political parties, all the risk has been taken out of capitalist investment – if they make money they get to keep almost all of it, but if they lose money their losses are socialized – meaning the taxpayers suffer the loss.
That is a major reason why the gap between rich and poor has grown so grotesque and why it continues to grow even when the Amerikkkan economy is shrinking. read more »