McClatchey News Service is distributing this op-ed by AFR’s ally Holly Sklar of Business for Shared Prosperity. Here is an excerpt, courtesy of the Lexington Herald-Leader:
The Scrooges of Wall Street were surprised a year ago by visits from the Ghosts of Christmas Past, Present and Future.
The Ghost of Christmas Past took them back to 1973, when the poverty rate was the lowest on record. The Ghost showed them a middle-class family living the American Dream – with decent wages and health care, a comfortable home, money to send the kids to college, and a pension to supplement Social Security.
“Bah!” said the Scrooges of Wall Street. “Humbug!”
The Ghost showed them an affluent family, with expensive finery, fancy cars, a vacation home and millions of dollars in wealth. The Scrooges were not impressed. They made millions of dollars a year.
“What share of national income goes to the richest 1 percent?” the Scrooges asked. The Ghost told them 9 percent.
The Scrooges of Wall Street said, “Bah Humbug!” and were happy it wasn’t 1973.
(Photo: TJC)
