On July 1, 2013, Robert Reich writes on NationOfChange.org:
Today, 1 percent of Americans are taking home nearly 20 percent of the country’s total income and own nearly 35 percent of the country’s wealth. This didn’t happen by accident…we allowed it to happen.We can’t have a prosperous economy without a strong and prosperous middle class. Inequality can be fixed. So, let’s fix it.
The reason for income inequality is that productive capital, whose ownership is concentrated among the minority of wealthy Americans, has increasingly been the factor that has contributed to the production of society’s products and services. No longer is labor dominant as a factor of production. Reich fails to acknowledge this economic reality and to state that this is the income source of the richest Americans. Thus he fails to see that to obtain a just economic structure requires that FUTURE productive capital investment be financed with pure, interest-free credit mechanisms, private capital insurance that is reinsured by government, with the 99 percent, who are now propertyless, owning the FUTURE shares of productive capital assets. Thus, without taking anything from the already wealthy ownership class, they would be entitled to the FUTURE full dividend income generated by the self-financing productive capital asset expansion. This is the concept behind Capital Homesteading. Support the Capital Homestead Act at http://www.cesj.org/homestead/index.htm and http://www.cesj.org/homestead/summary-cha.htm
