Social and economic exploitation of the 99 percent by the 1 percent is as old as the history of the world. There always was a disparity of wealth and privileges of different classes in the society. The disparity was there under feudalism, imperialism, capitalism, socialism and communism. The disparity is there in democracies and autocracies. In capitalism in post industrial revolution world, the chief exploiters were the mine and mill owners and money lenders. Rebellions against this exploitation led to the rise of labour unions, socialism and communism. Under the new dispensation, the politicians and their wealthy cronies became the new privileged class.
United States also has its classes. Classes can be based on race, education or income. Income is one of the most prominent features of social class. A simple definition of class could be privileged and under privileged. The privileged have a strong financial background and do not have to struggle to survive. The under privileged are mostly from a weak financial background and most of them struggle to survive. At least 60 percent Americans are in this bracket.
The Bottom 60 Percent of the American people, the middle class, working class and the poor; white collared and blue collared workers; teachers and nurses; policemen and postmen; high school and college graduates; all are facing unprecedented economic difficulties. Many are losing their present jobs. Most of the jobless are unable to find jobs matching their qualification and experience. Ever since President Ronald Regan, a Republican, unleashed his pro-business, pro-rich neo-liberal economic policies, the inequalities have increased sharply. The real income of the Bottom 60 Percent of the American people have either fallen or stagnated while that of the top 40 percent has grown rapidly. The incomes of the top 1 percent are growing at an amazing rate. Over eight to fifteen million manufacturing jobs have been shipped to China and other Asian countries. Jobs in science, technology and information technology are handed over to less costly foreign immigrants to increase corporate profits. Trillions of dollars of taxpayers money has been paid to bail out profligate banks that nearly collapsed because of their greedy speculative practices and malpractices in the "Savings and Loans" Scandal, the bursting of the Dot Com Bubble and Sub Prime Mortgage Crisis. The rich have been given tax breaks by the Republican Presidents like Regan and the Bushes. The Bottom 60 Percent have been given pink slips and heartbreaks by the corporations to improve profitability and the state governments on austerity drive to trim budget deficits. Their jobs have been shifted overseas by outsourcing. Their dream houses have been repossessed by the banks.
I do not have to tell the Bottom 60 Percent of the American people that they are in great economic difficulty and that their condition is deteriorating with every passing year. I want to ask them through this book whether they are going to sit back and mortgage their future and the future of their children and grand children to the top 1 percent and the corporate monsters. Or will they wake up and fight their exploiters, the rich, the corporations and their politician cronies.
This book seeks to suggest why and how, the ordinary underprivileged Americans, the Bottom 60 Percent must fight a class war against their privileged class enemies and secure their future.
