Posted by: Boston Bravery | April 20, 2010

The Real Wealth Distribution

Ever since President Reagan’s trickle down ecomonics there has been a war on the middle class.  Arianna Huffington in “Shorting The Middle Class: The Real Wall Street Crime” explains exactly what is going.  She points out, “Thirty years ago, top executives at S&P 500 companies made an average of 30 times what their workers did — now they make 300 times what their workers make. And between 2000 and 2008, the poverty rate in the suburbs of the largest metro areas in the U.S. grew by 25 percent — making these suburbs home to the country’s largest and fastest-growing segment of the poor.”

She then focus on the individual story of Dean Blackburn of Alameda, California.  He a graduate from Yale who had came from a middle class single mom in Minnesota.  He was laid off in February of 2008 so that his employer wouldn’t have to pay another month of health insurance.

Arianna goes on, “Fourteen months later, he is still looking for a new job. As he, his wife, and their 2-year-old daughter deal with the immediate financial struggles his extended unemployment has brought, Blackburn has become acutely aware of the broader implications of the shorting of the middle class. ‘Ultimately,’ he says, ‘it’s not about a dip in corporate profits, but a change in corporate attitude — a change that means no one’s job is safe, and never will be, ever again.'”

She later sums up with, “luck.  That’s what the American Dream now rest on…”

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