Showing posts with label reich. Show all posts
Showing posts with label reich. Show all posts

Wednesday, September 22, 2010

The Uber-Wealthy Divide and Conquer
















A few trenchant observations from one of Robert Reich's latest columns:



"Wall Street and top corporate executives have grown even richer than they were before the Great Recession, even though most Americans are getting poorer or losing their jobs and homes and savings, and more Americans are in poverty."


"The super-rich say the nation can't afford any of this because of budget deficits. Yet at the same time their platoons of lobbyists are fighting off efforts to treat their income as taxable earnings rather than capital gains. So last year the 400 richest families in America, with an average income of $300 million each, were taxed at an average rate of only 17 percent. That's the same tax rate paid by a family earning $30,000."


"Wealth and power in this country are so distorted that the top 25 hedge-fund managers each earned an average of $1 billion last year. $1 billion would support 20,000 classroom teachers. Yet who contributes more to this country — a hedge-fund manager or a teacher?"



This comes in the context of bemoaning why President Obama wasn't more forceful about calling out the uber-wealthy and their minions in his recent town hall meeting about the economy. Instead, Obama asked the Tea Party crowd to come up with specific ideas for reducing the deficit.


File that one under "be careful what you wish for" (e.g., ending Social Security, stopping jobless benefits, gutting Medicaid, etc.).


Reich's got a point. The more I think about this issue of conflict and how it's framed rhetorically, the more I come to the conclusion that a great many of the apparent conflicts we see aren't really between the supposedly obvious antagonists at all, but between two other entities with hazier identities. My favorite example is that it seems the real divide in the Palestinian/Israeli conflict is not between Israelis and Palestinians, or between Jew and Arab, but between those who sincerely want to find a mutual peace and those who prefer conflict (or who at least only see victory/defeat) as the possible outcomes. It's not a divide that's easily marked along geographic, ethnic, or religious lines; it's one that you see only in the heart and, to a lesser extent, in actions.