Book Trailer The Noble Train

Sunday, March 27, 2011

Watch the documentary: The One Percent

Four hundred families own more wealth than fifty one percent of the country. That would be 155 million people have less than four hundred families. Chew on that one. Or one percent of our population has more wealth than ninety percent of the rest of the population. And of course it is getting worse. The faucet you hear getting shut off is the last trickles of any hopes of stimulus that would help people get back on their feet. Political winds have eliminated that. We are now truly on our own.

The documentary The One Percent made by the one of the scions of the Johnson and Johnson family is interesting in that he manages to interview his own family about this vast inequity of wealth that has put us back to a Nineteenth Century footing of robber barons and serfs. We are serfs now. You  just don't know it yet. But you will. Social Darwinism is about survival of the fittest and it has been applied to the middle class. The earlier tenants of Social Darwinism said that the rich should survive and the poor should be cast out. This will keep the poor from having more children.

In the one percent the average income is ten  million dollars a year. The average income for all other Americans is 35,000. What is interesting in the film is the interview with Milton Freidman who gets disgusted and ends the interview at the end. He is Mr. Trickle Down. Support the rich and they will create jobs for everyone else. This has certainly proven to not be true. Nothing trickles down and few jobs are created. Maybe you just  heard General Electric just paid no tax. Nada. None. The average American pays more tax than the those in the one percent.

In the Progressive Era of the last century America had huge disparities in wealth that brought about reform: social security, medicaid, medicare, the graduated income tax. What has happened is we are back to that tipping point again except we are not in Progressive era. We are in the era of Retribution. Revenge of the Trickle Downs who believe the Middle Class did this to themselves. We have seen the protests in Wisconsin. Watching the documentary The One Percent, you get the feeling that is just the beginning.
Rocket Man will blast off on April 26th

Books by William Hazelgrove