Friday, January 28, 2011
(click on image to enlarge)
According to Wikipedia: "Plutocracy is rule by the wealthy, or power provided by wealth. The combination of both plutocracy and oligarchy is called plutarchy."
Wealth, generally, does not materialize from thin air. Emmanuel Saez of Berkly has assembled massive amounts of data about wealth using income tax data. In the so-called Bush expansion years (2002 - 2007) the top 1% captured 65% of real income growth.
Since consumers continue to pay more each year for food,the spread between the net farm income and the consumer is going somewhere and it is not going to the working poor.
As farm milk prices rise, the question is how much will remain on the farm and how much will be siphoned off? Part of the puzzle lies in who has the biggest voice in government.