Thursday, January 14, 2010

The middle class does all the work.

The comedian George Carlin once said that the rich people make all the money, the middle class does all the work and pays all the taxes, and the poor people are there to scare the shit out of the middle class.

I'd have to agree. The middle class gets royally screwed - especially in America (also in Canada to a somewhat lesser extent.) Let's take a look.

  • The middle class was told to invest all their savings and money in the markets - mutual funds, stocks, mortgages, credit etc. They paid a ton of hidden fees to the rich corporations who pay their executives millions dollars of year.
  • The system collapses because the middle class finally has their back broken by debt.
  • The government then takes the money the middle class pays for taxes and gives it to the rich corporations who continue to pay their executives millions dollars of year as a "bail out".
  • In other words, the rich people made money on the way up and made money on the way down.

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