Wednesday, August 26, 2009

Wealth and Poverty in Ted Kennedy's USA

In 1973 mob boss Frank Costello said that he and Joseph Kennedy, father of President Kennedy, had been bootlegging partners. (Frank Costello - Wikipedia, the free encyclopedia)

"Ted Kennedy and the Kennedy’s have profited in the tens of millions through the oil industry.

"Kennedy ... owns two oil companies." (Political Corruption 1: Ted Kennedy.)

Ted Kennedy, during a European vacation, was photographed having sexual intercourse in a motorboat.

Alabama senator Howell Heflin joked he was glad to see Kennedy had "changed his position on offshore drilling."

(highly publicised debauchery)

In 1983, Robert F. Kennedy Jr. was arrested for heroin possession.

In 1984, Robert Kennedy's sons, David, died of a drug overdose.

Ted Kennedy's son, Patrick, went into rehab in 1986, followed, in 1991, by his brother Ted Jr.

The USA could be considered to be a country of rich clever 'crooks', and poor dumb serfs.

On 10 August 2009, Global Research, had an article entitled Poverty and Social Inequality in America.

The article makes the following points about the USA:

1. The average income of the richest 10% is US$ 93,000.

This is the highest level in the OECD.

The Organization for Economic Cooperation and Development includes the USA, UK, Australia, Mexico, Turkey and 25 other countries.

2. The poorest 10% of US citizens have an income of US$5,800.

This is about 20% lower than the average for OECD countries.

3. Since the mid 1980s, the distribution of earnings has widened by 20%.

This is more than in most other OECD countries.

This is the main reason for widening inequality in America.

In the USA, the level of spending on social benefits such as unemployment benefits and family benefits is low – equivalent to just 9% of household incomes, while the OECD average is 22%.

On 10 August 2009, at Global Research, Tom Eley has an article entitled: “Working Poor” report: Nearly 30 percent of US families subsist on poverty wages.

From this we learn:

A 2008 report reveals that more than 28% of working Americans are living in poverty.

In 2006 there were more than 29 million jobs in the US that paid below the official poverty level.

The majority of families living on poverty wages are neither immigrants, minorities or families with a single parent.

Texas has the fourth highest number of working families defined as low-income.

New York has the highest family income inequality in the nation, California the fourth highest.

The impoverishment of ever-larger sections of the working class population is the outcome of a number of processes:

1. The dismantling of large sections of basic industry.

2. The wave of union-busting and strike-breaking in the 1980s.

3. The gutting of social welfare programs.

4. The betrayal of the working class by the trade union organizations.

There has been vast enrichment of the top 10 percent of the US population and the ever-greater concentration of wealth in the hands of the financial elite.


1 comment:

aferrismoon said...

As they get wages below the poverty-line the state has to subsidize them, which in fact means that the state subsidizes the corporation that employs them.
Neat trick


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