Who's to blame for the 1-percenters...

[redcliffsw]

-Walter Williams

Benefiting from a hint from an article titled "Is Harry Potter Making You Poorer?" – written by my colleague Dr. John Goodman, president of the Dallas-based National Center for Policy Analysis – I've come up with an explanation and a way to end income inequality in America, possibly around the world. Joanne Rowling was a welfare mother in Edinburgh, Scotland. All that has changed. As the writer of the "Harry Potter" novels, having a net worth of $1 billion, she is the world's wealthiest author. More importantly, she's one of those dastardly 1-percenters condemned by the Occupy Wall Streeters and other leftists.

How did Rowling become so wealthy and unequal to the rest of us? The entire blame for this social injustice lies at the feet of the world's children and their enabling parents. Rowling's wealth is a direct result of more than 500 million "Harry Potter" book sales and movie receipts grossing more than $5 billion. In other words, the millions of 99-percenters who individually plunk down $8 or $9 to attend a "Harry Potter" movie, $15 to buy a "Harry Potter" novel or $30 to buy a "Harry Potter" Blu-ray Disc are directly responsible for contributing to income inequality and wealth concentration that economist and Nobel laureate Paul Krugman says "is incompatible with real democracy." In other words, Rowling is not responsible for income inequality; it's the people who purchase her works.

We just can't blame the children for the unfairness of income inequality. Look at how Wal-Mart stores generated wealth for the Walton family of Christy ($25 billion), Jim ($21 billion), Alice ($21 billion) and Robson ($21 billion). The Walton family's wealth is not a result of ill-gotten gains, but the result of Wal-Mart's revenue, $422 billion in 2010. The blame for this unjust concentration of wealth rests with those hundreds of millions of shoppers worldwide who voluntarily enter Wal-Mart premises and leave behind dollars, pounds and pesos.

Basketball great LeBron James plays forward for the Miami Heat and earns $43 million for doing so. That puts him with those 1-percenters denounced by Wall Street occupiers. But who made LeBron a 1-percenter? It's those children again, enabled by their fathers or some other significant male. Instead of children doing their homework and their fathers helping their wives with housework, they get into their cars, drive to a downtown arena and voluntarily plunk down $100 for tickets. The millions of people who watch LeBron play are the direct cause of LeBron's earning $43 million and are thereby responsible for "undermining the foundations of our democracy."

(Column continues below)

http://www.wnd.com/index.php?pageId=372545

[Ross]

I believe the 1% are the Trillionairs not the million or billionairs.

Lincoln said, "The money powers prey upon the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe. Corporations have been enthroned, and an era of corruption in high places will follow. The money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed."

Both Lincoln and Alexander II were assassinated. In 1881 James Garfield became president and he was dedicated to restoring the right of the federal government to issue money like Lincoln did in the Civil War and he was also assassinated.

Finally along came 1913 and the US was again suffering from a weak economy and there was a threat of another costly war, a world war this time, and business tycoons J.P. Morgan, John D. Rockefeller and E.H. Harriman were part of a group that got Woodrow Wilson to sign into law the Federal Reserve Act creating a network of 12 privately owned banks as part of a new Federal Reserve network.

One of the largest stockholders in the new Federal Reserve was the House of Rothschild through their direct and indirect holdings. A few years later it was disclosed that the Rothschilds also owned about 20% of J. P. Morgan. In time Morgan would merge with the Chase Manhattan Bank of the Rockefellers.

Years later John F. Kennedy opposed a private national bank and was assassinated in 1963 and Ronald Reagan opposed a private national bank and in 1981 an attempt was made to assassinate him. Coincidence or not the opposition to a privately owned national bank was a common characteristic to all these successful assassinations and assassination attempts.

Which brings us full circle to the present bailout of Bear Stearns by J.P. Morgan Chase & Company and we find the Rothschild, Morgan and Rockefeller families are all conveniently part of the same group benefiting from the bailout and the $30 billion guarantee by the Federal Reserve. This is the third time the J. P. Morgan Company has come to the rescue of the American banking system and economy.