Forum Post: Some truths to ponder

The top 1% has about $3-5 trillion in wealth. If you took every penny, if you left Lloyd Blankfein and John Paulson and Warren Buffet penniless, took their all their wealth and applied it to the Federal deficit, there would still be $9-10 trillion owed. People may not want to believe it, but the average citizen is complicit in the stealing of wealth from the next generation. Poor people do not pay income tax. A family of 4 with a $40000 income pays no fed income tax. The do pay a Social Security tax, FICA, but that is simply an income transfer from possibly poorer young people to older wealthier people.

Government workers are aligned against the average private worker. It is insidious but it is undeniable. A public employee union always wants higher taxes. The higher taxes always come from the private employee. A decent argument can be made that Wall Street fat cats are aligned against the average private citizen but the EXACT same argument holds true for the SEIU public employee union.

Please please speed the pace of foreclosures. There was no comspiracy against the borrower by the banks. The very last thing a bank wants is for a loan or even more so, 1000s of loans to go bad. They want the loan to perform at the stated interest rate. Thats how they make the most money. Too much dead money is tied up in dead land and drywall. Keeping people in houses that they can't afford at any interest rate simply delays the resolution of what needs to be done.

College loans are too high because loans have been subsidized by loan programs and colleges have not had to toe the line on costs. Picket SUNY for believing they are immune to market forces. Ask the chancellors why tuition has risen 10% in the throes of a deep recession. Look what happened to Netflix stock when they tried to raise their price: Immediate swift stock punishment with a loss of billions of dollars of value. SUNY should be CUTTING tuition, not rasing it, in a recession. Colleges are selling young people a bill of goods related to these insane fee increases. Why should a professor get $125000 salary for teaching one 3 hour class a semester? A young law school grad has to work 75 hours a week to get $125K and a Med School resident has to work 24 hour shifts to get $40K.