Coming: The 2nd American Revolution
Did you know that every time a rich person gets a dollar richer, you become a dollar poorer? That’s right. Money does not grow on trees. It flows from you to them. And today it is gushing out of your pockets and into theirs so fast that you are well on your way to becoming a permanent resident in the poor house while they are building mansions and yachts faster than you can count them.
The numbers are frightening. They’re diabolical. If the trend continues the United States will be a country in revolution on a scale that will make all the wars of the past 100 years pale and collapse into squabbles in the footnotes of our history. History tells us that blood will flow and people will die on an unprecedented scale. Here are the supporting numbers:
Americans hold $64 trillion of wealth. Of that total the top 20 percent have $54 trillion. We all have $12.75 trillion of income. Of that total the top 20 percent have $10.84 trillion. The wealthy have 85 percent of all the wealth and all the incvome, and it’s growing. The middle class have just 15 percent. The bottom 50 percent have no wealth at all, and an average annual income of just $15,292. And it’s going to get worse.
Where is it all heading? Here are the projections:
By 2023 the wealthy will hold $108 trillion.
By 2033 the wealthy will hold $216 trillion.
By 2043 the wealthy will hold $416 trillion.
By 2053 the wealthy will hold $832 trillion.
By 2063 the wealthy will hold $1,664 trillion.
Oh, did I mention that the bottom 50 percent of Americans have no wealth at all? And they will still not have any wealth in 2063 because zero multiplied by any number is still…zero. In graphic terms that means the American Dream is dead for them. It means that they will never have the income to pull themselves up. Indeed, as they see the rich and powerful take away their safety nets known as food stamps, and Medicaid, and Medicare, and Social Security; and as houses fall into foreclosure, and their cars are repossessed, sometime around 2040 a very large number of them will stand up in unison and scream:
STOP!
But it will be too late. The war will be underway.
Oh, global warming will have gotten worse by then, but the 2nd American Revolution will easily eclipse it. Yes, hunger, and jobs, and fairness will still be issues. But they will all fade as the strongest motivations ever enunciated by and for us emerge: We want a piece of the pie that we made. Translation: We want Life, Liberty, and the Pursuit of Happiness.
How do I know if this will happen? The issue is when. Americans are nothing if not patient. It should be happening today.
Ron