Democracy cannot function without a vibrant middle class. The middle class in America is sick and shrinking. According to the Congressional Budget Office, inflation adjusted middle class income rose 40 percent over the past 40 years, while the income of the wealthy top 1 percent rose 275 percent.
The wealthy don’t work for their money. Their money works for them and is taxed at half of what you and I must pay. The top marginal tax rate actually paid by the wealthy is at its lowest point since the late 1920s.
The chasm between the richest and the poorest is now broader and deeper than the year prior to the Great Depression. America now ranks in the bottom third of the western world in income equality.
Greed is the killer of democracy. Corporations are now people and the wealthy can (and do) buy their own politicians. Money has become more important than people.
When profit at any cost becomes the rule of business and plutocracy the new standard, the rule of money and the enslavement of the masses becomes the norm and democracy is lost in the dustbin of history.
As Pogo astutely noted, “We have found the enemy, and he are us.”