Bill Moyers has seen the rich getting richer since the 1950s, and he’s sick and tired of it.
Bill Moyers gives his take on what has happened to our democracy, using the now famous leaked Citigroup document entitled “Revisiting Plutonomy”. These are the words that so disturbed Moyers:
“Asset booms, a rising profit share and favorable treatment by market-friendly governments have allowed the rich to prosper… [and] take an increasing share of income and wealth over the last 20 years.”
“…the top 10%, particularly the top 1% of the United States – the plutonomists in our parlance – have benefited disproportionately from the recent productivity surged in the US… [and] from globalization and the productivity boom, at the relative expense of labor.”
“… [and they] are likely to get even wealthier in the coming years. Because the dynamics of plutonomy are still intact.”
Disturbing indeed. See Bill Moyers comments at: