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Tuesday, February 18, 2014

Another member of America's disgusting 1 percent


PETULANT PLUTOCRAT OF THE WEEK
Wilbur Ross 
Is America’s 1 percent getting unfairly “picked on”? You bet, billionaire investor Wilbur Ross told Bloomberg TV last week.
What Ross finds especially “disappointing”: “Rhetoric” about the rich, he says, is obscuring how education can get people “into if not the 1 percent something close to it.”
The Ross comments came as new Pew Research data show that between 1986 and 2013 pay for college-educated Americans ages 25-32 increased at a meager 0.06 percent annual rate at the same time the nation's productivity was rising at a rate 33 times faster.
Maybe Americans ought to be studying how Ross has made his near $3 billion: by buying up companies in bankruptcy, dumping their pension obligations on taxpayers, and flipping the prettified firms for big profits.

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