The poor are losing ground in the new Obama world. The facts are showing up even in the halls of collectivist extremes like the New York Times. The rich are getting richer and poor are being locked in place. Big government is throttling the economy and the hopes and dreams of lower and middle class Americans.
Today's Wall Street Journal's article by Simon Constable lays out some of the simple and obvious facts of the Obama era: "The richest 20% of households account for 38% of spending, according to government data for 2011, the latest available. Compare that with 2003 when the top earners spent 26% of the total." The article goes on to say..."it could get even worse." It will.
Who really benefits when the regulators strangle the banks? Do banks really need to get much more conservative in their lending practices? Why does the government know best? How far can you stretch the FDIC guarantees before American banking is simply a subsidiary of the US government? We are now getting clear answers to these questions.
The big losers are minorities, the poor, the struggling middle class. These are the folks that are being devastated by Obama's big government agenda.
The next hammer to fall on the middle class is the 'Affordable Care Act,' which, in theory, is due to begin implementation next week. This 'Act' will destroy the American health care industry, impoverish the average American, and create a bonanza for bureaucrats and politicians. The wealthy are totally unaffected, as are the politicians. We don't know this yet, but soon we will know. This will be the straw that breaks the camel's back.
Stuck under this morass of regulation, that tells you where you can send your kids to schools, what they should eat, what you should eat, where you should go to get your health care, what kind of car you can drive, and even what size soda bottles you are permitted to purchase, is the average American. The land of opportunity is now the land of regulation and oppression.
Given how bad the public schools are, you might think that learning on the job might be able to give you just the lift you need to begin climbing the ladder of the American dream. The big government boys have an answer for that too. The minimum wage. By escalating the minimum wage, the ladder's bottom rungs are effectively sawed off. Too bad if you are poor, uneducated and striving to improve your circumstances. Every opportunity to break out of the low income world has now been criminalized.
Meanwhile, JP Morgan may be facing an $ 11 billion fine from the big government boys. Like everything else, this is a tax on the American worker, since he/she are the owners of JP Morgan and will pay this $ 11 billion. Who won't pay the $ 11 billion are any of the perpetrators of the so-called crimes for which this $ 11 billion is a settlement. The janitor sweeping out the building will pay this fine and retire on a lower income thanks to the big government boys. Meanwhile, the directors and senior executives at JP Morgan will see their compensation continue to sail higher and higher. The rich get richer, the poor get poorer, courtesy of the US government and its cronies.
In every way, government is waging war on its own people. These things we now know.