After Vince Coyner quoted the famous statement about the demise of democracy due to majority greed, he asked, “Are we too far gone?” (FCN Nov 25, 2012)
The answer is yes. Not only have we gone too far, we are at least 15 years, half a generation, into the situation. There is no return. Many people speak of a tipping point or a fiscal cliff or some other happening that would pinpoint the event. There is no so-called tipping point. The change is a long term, generational process.
The first positive indication that a paradigm shift had occurred was the second election of Bill Clinton, but the seeds had been planted many years before. Newt Gingrich and George W. Bush attempted to reverse the process but they failed and are still being ridiculed for their efforts.
The tremendous accumulated wealth in the United States and the motivation of the rich to produce wealth has masked the situation.
Unfortunately, we have reached a point at which, to keep the largess flowing, it is necessary to tap more of the income of the rich. Before long we will have to attach their assets like the government did the General Motors bondholders.
When the Founders principles and the Constitution are violated, the rest is easy.