Tuesday, September 20, 2011

Paul Krugman on Class Warfare

It looks like Paul Krugman is preparing to write an op-ed in the NY Times on the topic of "class warfare" and the yelping that the ultra-rich are doing as Obama attempts to move tax rates back to what they were in the 1990s.

Here's a bit from a post on his NY Times blog:
Notes on Class Warfare

I’ll be saying much more on this. But for now, partly as a note to myself, some notes on the actual class war that has taken place over the past 30 years — namely class warfare for the rich against the middle class.

1. Major tax cuts for high-income Americans, much larger as a percentage of income than for the middle class; CBO data here.

2. Decline in real minimum wage.

3. Union-busting, aided and abetted by federal policy.

4. Financial deregulation, which has fed inequality because very high incomes come disproportionately from that sector.

And now shrieks of outrage over the prospect of even a slight reversal of these trends.
The Republicans strike me as similar to bullies. They love to dish it out, but they can't take it when tables are turned. They've made life miserable to tens of millions of Americans, but the first hint that their glory days are over and they run screaming about how "unfair" the Democrats are to attack then and how vicious the "class warfare" the Democrats are directing at them. What a joke.

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