Class warfare and tax cuts for the rich

August 21, 2011

This claim that 51% of Americans don’t pay taxes — does anyone know where they fit in the economics scheme of things?

I wonder, partly because it’s mentioned over at Disaffected and It Feels So Good, and partly because in the light of what else is said over there, it’s relevant.

What is that blog saying?

The Heritage Foundation’s 2001 report proclaimed if the Bush tax cut legislation were to pass, it would:

1) Effectively pay off the federal debt;
2) Reduce the federal surplus by $1.4 trillion;
3) Substantially increase family income;
4) Save the entire Social Security surplus;
5) Increase personal savings;
6) Create more job opportunities.

Everyone of those claims did not happen and in fact the exact opposite occurred. But, what did happen was a massive transfer of wealth to the Ultra-Wealthy, which were the true goals of the Bush Tax Cuts.

Be sure to see the clip from Jon Stewart’s program about how America’s poor are really rich, and we could balance the budget on that demographic alone.

Who pays taxes, and is it fair?  Odd to me that the assumption is it’s the poor who don’t pay taxes, and that it’s unfair to the rich because the poor are living so high on the hog.

Evidence, anyone?


Fatal flaw in American politico-economic system, that schools could fix, but won’t

November 7, 2010

. . . unless we change them soon, and in a fashion much different from what Arne Duncan wants.

John Quiggin, again:

Contrary to the cherished beliefs of most Americans, the United States has less social mobility than any other developed country. As Ron Haskins and Isabel Sawhill of the Brookings Institution have shown, 42 percent of American men with fathers in the bottom fifth of the income distribution remain there as compared to: Denmark, 25 percent; Sweden, 26 percent; Finland, 28 percent; Norway, 28 percent; and Britain, 30 percent. The American Dream is fast becoming a myth.

Tea Partiers, most of them, believe they have a vested interest in keeping things that way, to preserve their own modest economic achievement.  And those at the top?  They delight in a little bit of “Let’s You and Him Fight.”

Quiggin’s article at Foreign Policy introduces five of the ideas in his new book, Zombie Economics; well worth the read.


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