We are beginning to look a lot like Mexico

Letter-writer Glen Holzhausen and I seldom have common views, so I was pleased to read his corroboration of my point that societies, such as Mexico, that protect monopolies of their hyper-rich do so at the expense of the middle class and working poor.

Back in the golden era of the US middle class, 1945 to 1980, our own government fostered a strong middle class through its tax structure, economic assistance and development, the great GI Bill and laws that kept corporate abuses in check.

The extreme wealth divide found in Mexico is now found in our own country, having rapidly accelerated in the last 10 years in large part because of protected monopolies. Data shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans. This is really making us look like Mexico.

Such growing disparities in the US are significant in terms of social and political stability. When the economy is growing but only a few are enjoying the benefits, it grates against America’s sense of fairness. It will eventually have serious political consequences as the elite become arrogant and contemptible of workers, generating class warfare.

In 2005 Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman, Lee Raymond, raked off a shamefully gluttonous portion. Exxon gave Raymond the most generous retirement packages in its history, nearly $400 million, including pension, stock options and other perks.

What man could possibly be worth $141,000 a day in pay? Certainly not this unimaginative CEO of Exxon. There are many others like him.

Not only has this administration exported top jobs overseas, but good jobs that still remain in the US are increasingly filled with foreign workers brought in on work visas.

Corporate public relations departments have successfully spread the lie that there is a shortage of qualified US workers, necessitating the importation into the US of foreigners. This administration is rapidly destroying the middle class in America. Bush will wreak terrible damage on the American economy in the next year before he leaves office.

Joe H. Crews