An Independent’s, moderate’s, and millennial’s call to action
The economy is tanking and getting worse by the day. Millions of people are getting laid off and a good portion of America is struggling to make ends meet on a day-by-day basis.
- The economy contracted by 4.8% in the first quarter.
- The unemployment rate is probably close to 20%.
- 40% of Americans live paycheck-to-paycheck. And this was before the coronavirus.
- We have a retirement crisis coming up. Most young and middle-aged Americans will not be able to retire at a reasonable age because pensions have all but disappeared.
Meanwhile, the stock market is going up by leaps and bounds. This would all be great if everyone owned stock but this is far from the case.
- About 85% of the stock market is owned by the wealthiest 10% of Americans. This is after taking out the approximately 25% of the U.S. market that is owned by foreigners.
- Over half of Americans own no stock at all.
- Since the mid-1970’s, the stock market has increased by over 900% in value.
- Since the mid-1970’s, employee compensation has only increased about 13%.
- The wealthiest 1% in the U.S. now own as much wealth as the bottom 90%.
Now the stock market and economy are again heading in opposite directions, in part due to actions by the Fed which has gone to extreme measures to boost liquidity which in turn is boosting the market. The deficit spending and actions by the Fed are also issues that we will be paying for long into the future.
We always have to have incentives for people to get ahead. And people who start their companies and make them a success such as Bill Gates and Elon Musk deserve what they have because of what they accomplished. But for the majority of Americans the distribution of benefits from our increasing productivity are way out of balance and it is getting worst. Even wealthy people have been expressing concern about the degree of wealth inequality in this country.
This is something that has been building for decades and now with the coronavirus this issue may be at the breaking point. Our two-party system has caused this problem to get to where it is now. And there is only one way to put things back into balance – a third major political party.
If you are in the top 10% you should be concerned about what is happening in our country. If you are in the other 90% and especially if you are young or if you are in the middle class, you should be angry and want to make sure those who work hard get their fair share of benefits. Join the fight with other Independents, moderates, and millennials to build a third tie-breaker political party for our country. Volunteer and support the Alliance Party (http://theallianceparty.com).