CEA Chair Austan Goolsbee Explains the Tax Cut Fight
Wealth has been redistributed to those that already have money.
Income Remained Highly Concentrated at the Top
So, what are the wealthy doing with all these tax cuts? Sitting on them like a golden egg.
$1 Trillion in Reserves, But Not Hiring
So let me get this straight. We should take money from the government that could be used to provide jobs fixing the broken infrastructure in the US (some may have forgotten that a bridge just fucking fell down in Minneapolis). This money should then be given to wealthy people who already have billions, but will not create jobs because the economy is too sluggish. But the economy is sluggish because people don’t have jobs and can’t buy anything.
Perfect. I totally understand. The wealthy have figured out a way, not only to be recession proof, but also fuck us when we're down. What is even hard to stomach is how much some folks are eager to gobble up this shit sandwich by trying to prevent the wealthy from paying their fair share.
Here is what scares me: 1. The U.S. has two political parties that are hell bent on emptying the public coffers to benefit the rich, these same parties stopped being in any way responsive to voters in the early 70s. 2. The politically active middle and working classes are shrinking while at the same time losing their political voice. People are feeling increasingly fucked (helpless) and increasingly fucked (powerless). 3. Feelings of helplessness + feelings of powerlessness = teabaggin' authoritarianism.
ReplyDeleteThere is no end in sight.