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The Wealth Gap (continued): Back to basics

The middle class share of American wealth has gone to the very rich

                                                                                     

By Dr. Larry Fedewa (April 7, 2019)

 

For the past three weeks, The Dr. Larry Show (www.blogtalkradio.com/LA-Batchelor/ or at 646-929-0130; 7 -8 pm every Wednesday) has been discussing the “wealth gap” in 2019 America. Now, it’s time to get back to basics.

Q. What is the “wealth gap”?                                       

A. This term refers to the present and growing concentration of financial assets (cash, stock, real estate, intellectual properties such as patents, copyrights, and royalties, etc.), and all forms of passive income to the control of fewer and fewer people (1% of the population) while the middle-class controls less and less of the nation’s wealth. The word, “wealth”, is used instead of “income”, because the value of assets is frequently allowed to appreciate untouched ( e.g. to avoid taxable income). Money comes and goes in the form of income; assets are for long-term welfare.

Q.  Is there really a wealth gap in America? Surely there will always be differences in wealth.

A.  The changes in the proportion of the nation’s wealth held by individuals over time are clearly traceable statistically. This trend can and has been analyzed by experts for decades. Currently, nearly 80% of America’s wealth is held by 1% of the U.S. population.                     Keep Reading

Vlady to Deep State: “Well done!”

“You have achieved Russia’s greatest victory in the 21st century!”

 

By Dr. Larry Fedewa (March 25, 2019)

Texas Representative John Ratcliffe (R), former federal prosecutor and among the most impressive and careful members of Congress, made a case to Fox’s Maria Bartiromo yesterday morning that the enemies of President Trump have accomplished the goals of Russia’s interventions in the 2016 USA election far more successfully than the Russian spies could ever have hoped for.

Those goals have been revealed as the division of the American public in such a way as to discredit the new president, to sow deep mistrust of the electoral process, and to encourage contempt for the rule of law. Altogether to undermine America’s democracy in the eyes of her citizens. In addition, this continual distraction of the American government and media has precipitated a monumental effort to paralyze the Washington establishment with respect to foreign policy and performance – a goal shared with the entire Democrat Congress.  Keep Reading

Partisanship versus Patriotism

If partisanship blinds one to his/her obvious duty, that person does not deserve to hold office in this Republic.

By Dr. Larry Fedewa (March 17, 2019)

There comes a time when partisanship can blind politicians to their duties as patriotic Americans. Apparently the U.S. Congress has arrived at that time. Anyone who has been following events at our southern border for the past several months has seen an alarming situation grow worse and worse.

The caravans from Central America have been arriving with increasing frequency – to the extent that we are now expecting nearly one million illegal immigrants to cross from Mexico into our country this year. Under our current laws, “catch and release” has become again the order of the day. Everybody knows by now that we simply do not have enough capacity to house so many people at the border, so hundreds of thousands of unvetted, undocumented individuals are being shipped all over the country every day.

Yet our politicians cannot seem to do anything about it. First, the Democrats stubbornly refused to provide funds to build the barriers needed at the border crossings which are not protected by natural barriers. They had absolutely no basis for this opposition, since most had previously supported even larger budgets for such construction. Their only reason was naked partisan hatred of the President of the other party, Donald J. Trump. All the experts, from the Homeland Secretary on down through present and past heads of the Border Patrol and ICE (Immigration and Customs Enforcement) – even the reporters who are covering the stories — pleaded in vain for the support necessary to deal with a massive humanitarian and national security situation.

The reason that this issue had not been resolved by the Republican Congress which preceded this one is the stubborn refusal of Republican Senate Majority Leader Mitch McConnell to change the “60-vote” rule to break cloture when it became obvious that the Democrats were united against anything and everything that appeared on the new president’s agenda. McConnell allowed the exception for Supreme Court nominees but acquiesced in most other cases. With a majority of only 51 votes, the Republicans squandered their two-year advantage on many key issues. And this situation continues even now.

The Congress continues to thwart the only politician in Washington who is sincerely trying to  perform the foremost duty of the national government, namely, defending the American people from foreign intrusion. Today, that intrusion is not military, but cultural, medical, criminal and economic. It should not be necessary to point out that protection of the American people is the foremost obligation not only on the President, but also of the entire federal government, including the Congress. Flimsy excuses of abrogation of  the separation of powers as stipulated in the Constitution are no justification for allowing the tragedies at the Mexican border to continue and increase every day, including the unabated flow of illegal drugs, gang members and criminals into the USA.

Elected representatives of the federal government take an oath to defend and uphold the laws of the United States of America against all foes, foreign and domestic. If they can’t or won’t live up to that oath, they should be branded as traitors and removed from office. Rumors of impeachment are targeting the wrong victim. If partisanship blinds one to his/her obvious duty, that person does not deserve to hold office in this Republic.

 

© 2013 Richfield Press. All rights reserved.

Politics is NOT a game!

Everybody should win something

By Dr. Larry Fedewa (February 10, 2019)

The soaring rhetoric with which President Donald J. Trump concluded his 2019 State of the Union address was totally unexpected, but as uplifting in its own way as that of Ronald Reagan and John F. Kennedy. And we need to be lifted up – from the pettiness and willful blindness which have characterized much of our political discourse as our loyalties and pronouncements have descended into a cauldron of partisan gamesmanship.

As author John Daly observed on “The Dr. Larry Show” last week, the American public has taken to looking at politics as a competitive sport where there must be winners and losers. This perspective has been both led and followed by the news media. Smaller and ever smaller incidents, actions and words are being analyzed in terms of who won and who lost. Fox News has even scheduled an end-of-week quiz every Friday night called “Winners and Losers”.  Keep Reading

The Origins of the American New Left

Where did they come from?                         

2016 Rally – Maxine Waters (D-CA) and Hillary Clinton

By Dr. Larry Fedewa (September 23, 2018)  America’s academic institutions today are dominated by the heirs of people who grew up in the 1960’s and 1970’s. A look at the anti-establishment movements of those days helps us to understand the themes that have survived and evolved into today’s New Left.

The overarching issues of those days were opposition to the Vietnam War, which started in the universities of the time, and the civil rights movement whose champion was

Dr. Martin Luther King, Jr. Almost unnoticed in the confusion was President Lyndon Johnson’s Great Society programs, which introduced the most radically socialistic legislation in American history, extending the role of the federal government to responsibility for care of the poor.

Civil rights and the anti-war causes were directly anti-establishment, and both were based on a sense of moral superiority. It did not take long for the believers in the two causes to join forces. They filled mutual needs: the anti-Vietnam movement was based initially on the objections of college students (mostly white) to being required to fight in a war which was neither understood nor supported by most Americans.

The issue quickly became whether the federal government even had the right to draft youngsters at all. Middle America stood firmly with the government on that issue, thus spawning widespread opposition to the anti-war movement and solidifying support for the War beyond what is had been in the beginning.  The champion of the Middle American view was Alabama Governor George Wallace, who also had come to prominence as a segregationist (a position he later repudiated).

What the anti-war movement needed was a cause larger than the discomfort of some white college boys. They needed a transcendent cause and they found it in the civil rights movement. That cause was social justice. Specifically, social justice as interpreted to mean equality of all Americans — legally, socially, economically and morally. The civil rights movement needed white support; the leaders were aware that without it, they would never achieve their goals.

It was a marriage made in heaven.      Keep Reading

The Meaning of “Profit”

Without profits, no taxes                                                                                                                                                                   ABC-TV Shark Tank Cast

 

By Dr. Larry Fedewa (August 24,2018)

Much of our political discourse today demonstrates an appalling lack of understanding of the most fundamental elements of the American economy. There are two kinds of organizations which comprise the United States economy: for profit and not-for-profit. The only engine for making money is the for-profit sector, that is, businesses which buy and sell products and services.

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