In the Dec. 5 opinion page, Steve Graham wrote that the government will save us from the “super-rich.” Let’s see how that has worked out.
In 1913, bankers (“super-rich”) convinced the government to allow them (bankers) to control the economy by creating the Federal Reserve. Inflation has risen ever since, and now the Fed’s low-interest rates create financial repression of savers and retirees. In 1999, under Clinton’s watch, the Glass–Steagall Act was repealed, allowing banks to mix commercial and investment banking. The repeal of that legislation brought about the worst financial disaster in human history.
After that disaster, we taxpayers bailed out the “super-rich” bankers and Obama filled his administration with the very “super-rich” bankers that caused the disaster. Obama’s chiefs of staff were bankers and his FDA Food Safety Czar was a former Monsanto executive — all “super-rich.” Lobbyists write legislation and politicians pocket profits and sign the legislation into law. Career politicians become multimillionaires on yearly salaries of $150,000 to $200,000 through kickbacks from “super-rich” corporations. Even the socialist Bernie Sanders is a millionaire and has three houses.
If you ever hear “altruism” and “government” in the same sentence, know that you are being lied to.
— Gregg Rocheford