[LFC Comments: While most small and medium business are going out of business due to the insane lockdown policy (initiated, in our opinion, to defeat President Trump), the fat cats get even fatter. History has shown that this does not sit well with the “unwashed masses”.
Lake County, Ohio residents: Watch what happens in 2021 – we predict local political sub-divisions, especially schools, will be putting property tax levies on the ballots. If the State of Ohio does not get bailed out by the federal government, look for increased taxation because the school and state pensions funds may have to go on a ventilator.
Food prices are going to increase, as are gasoline prices because of the climate change nonsense by the China Joe administration. . We expect home foreclosures to increase because people are unemployed and those on fixed incomes are stretched to their limit. They have exceeded their housing affordability threshold, and are living only on social security with no savings as a buffer.
U.S. Billionaires Boost Their Wealth by 40 Percent During Coronavirus Crisis
Billionaires in the United States have increased their wealth by nearly 40 percent since the start of the Chinese coronavirus crisis, new analysis finds.
The nation’s 660 billionaires have grown their collective net worth by $1.1 trillion since March 2020, when economic lockdowns closed small and medium-sized businesses, according to analysis by Americans for Tax Fairness.
In March 2020, U.S. billionaires had a combined net worth of just under $3 trillion. Today, that net worth has jumped to $4.1 trillion — a 38.6 percent increase in wealth for the nation’s richest one percent of earners.
At the same time, 18 million Americans remain jobless, 6.2 million are underemployed, and hundreds of thousands of small businesses have been forced to close.
The wealth growth among billionaires has been so vast that 46 former millionaires have become billionaires since the start of the crisis. Their $4.1 trillion combined wealth means that they have more money than the bottom half of earners — 165 million Americans — whose combined wealth stands at $2.4 trillion.
Specifically, Amazon CEO Jeff Bezos has grown his wealth by more than 60 percent since March 2020 while Tesla CEO Elon Musk has boosted his wealth by 628.5 percent. Similarly, Microsoft co-founder Bill Gates has raked in 23 percent more during the crisis than before and Facebook CEO Mark Zuckerberg has increased his wealth by nearly 70 percent.
The analysis shows the massive gap in economic gains and losses between the nation’s wealthiest and working and middle class Americans who have disproportionately been impacted by the crisis and the subsequent economic lockdowns various state governments have imposed.
Pew Research Center analysis from 2018 found that between the year 2000 and 2016, median household income for middle class Americans has been stagnant while the median household income for working class Americans is less than it was 16 years prior.
John Binder is a reporter for Breitbart News. Email him at firstname.lastname@example.org.
From the National Archives we found this information on the French Revolution:
The French Revolution began in 1789 and lasted until 1794. King Louis XVI needed more money, but had failed to raise more taxes when he had called a meeting of the Estates General. This instead turned into a protest about conditions in France. On July 14 1789 the Paris mob, hungry due to a lack of food from poor harvests, upset at the conditions of their lives and annoyed with their King and Government, stormed the Bastille fortress (a prison). This turned out to be more symbolic than anything else as only four or five prisoners were found.
In October 1789, King Louis and his family were moved from Versailles (the Royal palace) to Paris. He tried to flee in 1791, but was stopped and forced to agree to a new form of government. Replacing the power of the King, a ‘legislative assembly’ governed from October 1791 to September 1792, and was then replaced by the ‘National Convention’. The Republic of France was declared, and soon the King was put on trial. The Revolution became more and more radical and violent. King Louis XVI was executed on January 21 1793. In the six weeks that followed some 1,400 people who were considered potential enemies to the Republic were executed in Paris.
[LFC Comments: Beware of the rhetoric coming from the communists in the Demonic Democrat Party that the Trump supporters are domestic terrorists. As they continue to shred the U.S. Constitution, they will throw out free speech and due process rights.]
Many historians now regard the French Revolution as a turning point in the history of Europe, but also in North America where many of the same ideas influenced the Declaration of Independence and the American Revolution. The famous slogan ‘Liberty, Equality and Fraternity’ called for every person’s right to freedom and equal treatment. Across France and the rest of Europe the consequences of the Revolution were huge. There were many new developments including the fall of the monarchy, changes in society with the rise of the middle class, and the growth of nationalism.