Multi-millionaire Nick Hanauer, a proud and unapologetic capitalist, has urged his fellow filthy rich 1% plutocrats to fix the glaring economic inequities or face the consequences.
The divide between the haves and have-nots is getting worse in America. In 1980, the top 1% controlled about 8% of US national income; the bottom 50% shared about 18%. Today the top 1% share about 20%; the bottom 50% share about 12%.
In June of 2014, Hanauer wrote an op-ed for Politico magazine in which he foresaw pitchforks coming for his “fellow .01%ers” if they did not address the issue of increasing wealth inequality, resulting in the destruction of the middle class, which is a far larger job creator than wealthy entrepreneurs like himself.
Hanauer feels that inequality is at historically high levels in the United States and getting worse every day. He advises that the policies must change or the middle class will vanish and as a result, America, which is becoming less a capitalist society and more a feudal society, will be thrown back to late 18th century France.
Financial inequality does have social and political consequences and the rich tend to ignore them at their peril. Watch Hanauer speak about rising income inequality in the US and the problems it may cause to future business ventures…
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Just wait till shit hits the fan, if they though Baltimore was bad…
The general info in this article is true, but it is very misleading due to the omission of two crucial facts: firstly, these “.01%ers” are, like Hanauer, almost all JEWISH; secondly, they made their fortunes from the dishonest activities of criminal Jewish-dominated organizations like the “Federal Reserve”, the “too large to fail banks” (bailed out with taxpayer money by the Federal Reserve), and the rigged NY Stock Exchange.