“America is no longer based on markets and capitalism, instead our economy is designed as ‘socialism for the rich’ – it is designed to ensure that the wealthiest people take all of the gains, while regular Americans cover any losses…It’s a Las Vegas economy where regular Americans put their money on the table and the richest 1 percent own the house. And if the 1 percent happen to lose money, the 99 percent bails them out – covers their losses and then stands by watching while the house does it all over again.”
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Robert Johnson of the “Patriotic Millionaires,” the group of very wealthy people calling for higher taxes on the rich, is absolutely right here.
What he fails to mention or realize is that having the 1% contribute a little more to their own bailouts, subsidies, and war profiteering is not actually helping our situation.
