Time and time again, the liberal defenders of government power have attacked any call for reform as a plot by the wealthy. Even now New York Times editorialists pound their keys about the “Concentration of Wealth”, invoking presidents from Andrew Jackson to Theodore Roosevelt. But in our America, the “Concentration of Wealth” is not found in the hands of a few billionaires. It is found in the hands of the government.
The editorialists talk about the income gap and how much wealth is held by the top 1 percent of the country, but they are leaving something out. Their statistics deal with individuals, not institutions. And it is institutions which threaten our liberties, not individuals.
The top 10 wealthiest men and women in America barely have 250 billion dollars between them. That sounds like a lot of money, until you look at annual Federal budgets which run into the trillions of dollars, and the country’s national debt which approaches 15 trillion dollars. And that’s not taking into account state budgets. Even Rhode Island, the smallest state in the union, with a population of barely a million, has a multi-billion dollar budget.
As the 10th richest man in America, Michael Bloomberg wields a personal fortune of a mere 18 billion dollars, but as the Mayor of the City of New York, he disposes of an annual budget of 63 billion dollars. In a single year, he disposes of three times his own net worth. A sum that would wipe out the net worth of any billionaire in America. That is the difference between the wealth wielded by the 10th wealthiest man in America, and the mayor of a single city. And that is the real concentration of wealth. Not in the hands of individuals, but at every level of government, from the municipal to the state houses to the White House.
While liberal pundits pop on their stovepipe hats, fix their diamond stickpins and cravats, and trade in 19th century rhetoric about the dangers of trusts and monopolies– the power in 20th century America lies not in the hands of a few industrialists, but with massive monopolistic trust of government, and its network of unions, non-profits, lobbyists and PAC’s. The railroads are broken up, offshore drilling is banned, coal mining is in trouble and Ma Bell has a thousand quarreling stepchildren– now government is the real big business. How big?
The 2008 presidential campaign cost 5.3 billion dollars. Another 1.5 billion for the House and the Senate. And that’s not counting another half a billion from the 527’s and even shadier fundraising by shadowy political organizations. But that’s a small investment when you realize that they were spending billions of dollars to get their hands on trillions of dollars.
Do you know of any company in America where for a mere few billion, you could become the CEO of a company whose shareholders would be forced to sit back and watch for four years while you run up trillion dollar deficits and parcel out billions to your friends? Without going to jail or being marched out in handcuffs. A company that will allow you to indulge yourself, travel anywhere at company expense, live the good life, and only work when you feel like it. That will legally indemnify you against all shareholder lawsuits, while allowing you to dispose not only of their investments, but of their personal property in any way you see fit.
There is only one such company. It’s called the United States Government.