Published on Monday, February 18, 2013 by Common Dreams The Lamest Excuses Money Can Buy
by Paul Buchheit
As we try to grasp the reasoning behind cuts to life-saving programs while billion-dollar incomes and trillion-dollar profits are being made, we must understand that extreme wealth deadens parts of the brain. Empathy and honesty go first. Then rationality, as evidenced by some of the outlandish excuses given by the very rich for their abuses.
Excuses for Inequality
Here's what Goldman Sachs adviser Brian Griffiths said about it: "We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all."
U.S. wealth distribution has become so extreme that nearly half of America has, on the average, ZERO WEALTH (debt exceeds assets). As for income, the richest 1% seemed to perform the impossible from 2009 to 2011, capturing MORE THAN 100% of the new income gains (income decreased for the other 99%).
As irrational as it might seem to find an excuse for all this, the Heritage Foundation is up to the task, claiming that poor Americans are actually doing quite well with their TVs and air conditioners. Never mind that debt for the poorest quintile of Americans averages $27,000 more than their possessions. ..............(more)