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Excuse me, Mr. Donohue, WHO is “Taking from the Young”?!!

grandfatherNo.  Just…no.

As a parent, I am absolutely revolted by Tom Donohue’s apparent attempt to incite a political war between the generations.

Yes, I understand that as America’s top business lobbyist, he would prefer the federal government to cut spending on Social Security and Medicare.

And yes, if the federal government spends less money taking care of our senior citizens, there will be more money available for corporate handouts.

But from my own perspective, the federal government already spends enough money on corporate handouts.  The average American family is now paying $6,000 a year in subsidies to big business.

Yet, based on yesterday’s speech, it looks to me like Mr. Donohue is willing to pit children against their grandparents, in order to get even more.

wealth share 1983-2010Mr. Donohue: it’s not our senior citizens who are “taking” wealth away from the next generation.

Look at what’s happened to the distribution of wealth since Ronald Reagan was President. 

Sixty percent of households LOST wealth… while those at the top of the economic ladder gained massively.

Look at what’s happened to annual income since Ronald Reagan was President.

income gains 1986-2008All the growth went to the richest 10%, while incomes for the bottom 90% declined.

The pattern holds true even during the current economic “recovery”.  According to economist Emmanuel Saez, “The top 1% captured 95% of the income gains.”

So yes, Mr. Donohue, it looks like this next generation will end up with a lot less than their grandparents had.

But no, Mr. Donohue.  It’s not our senior citizens who are “taking” that wealth away.

And you’re not going to start an inter-generational political war, to distract us from what’s really going on.

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About Liz Iacobucci

Liz Iacobucci is the former Public Information Officer for the State Employees’ Association of New Hampshire, SEIU Local 1984. Over the past three decades, she has served in government at the federal, state and municipal levels; and she has worked for both Democratic and Republican politicians.
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