I ran across this and thought I should share it with all my friends and readers:
"The United States is owned and dominated today by a hierarchy of its sixty richest families, buttressed by no more than ninety families of lesser wealth. These families are the living center of the modern industrial oligarchy which dominates the United States, functioning discreetly under a de jure democratic form of government behind which a de facto government, absolutist and plutocratic in its lineaments, has gradually taken form. This de facto government is actually the government of the United States - informal, invisible, shadowy. It is the government of money in a dollar democracy."
The interesting thing about this is:
In 1937, investigative journalist Ferdinand Lundberg obtained tax records and other historical documents in order to expose this perpetual chain of concentrated wealth. His findings, duly titled "America's 60 Families," wrote the above paragraph in 1937!
Nothing has changed:
As of 2010, the top 1% of US households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.1%
If you work for a pay check you are in the bottom 80 percent. I thought you should know! 😀