The View From 1776
The Coming Economic Class Warfare
As expressed by Congressman Barney Frank (motto: Rich people have too much money, and I intend to take it away from them), a Democrat/Socialist administration will hike taxes in the name of socialism’s social justice, while expanding the welfare-state and paying for it with inflationary expansion of the money supply.
- We've had economic class warfare of one kind or another since at least the late 50s. Probably longer than that. Nobama and Frank et al just want to take it to the next level.
Posted by Elusive Wapiti on 10/27 at 04:34 AM
- With a guy like 'the one' the smiley face of American fascism has found it's front man. Call it 'progressivism, liberalism, leftism, central statism', whatever you want but it's class based, zero sum economics that's based on the fundamental dislike of the American idea. Should be described for what it is: fascism for dummies.
- McCain, Hanity, Limbaugh, Brewton, et. al. like to paint the concept of a tax break for those earning less than 250K as "redistribution" (AKA "spreading the wealth") when in reality, the Conservative Republicans have been engaged in their own massive "redistribution of wealth" for the last eight years - but in the other direction.
The folks earning less than 250K have had their taxes raised, while those earning more have gotten massive a tax breaks, thus "spreading the wealth" upwards.
Somehow, in their eyes, this "reverse Robin Hood" approach is completely virtuous, but giving the lower wage tax payers a tax break is "socialist." The Republicans argue when you give a tax break to the rich, they, being hard-working and upright citizens of high moral character, will create more jobs for the poor slobs beneath them, and then everybody is better off.
- Mr Henrie- You are either naive or an economic illiterate. The redistributionist policies advocated by our American fascists is focussed on the state as embodying the 'general will' and all of your arbitrary 'classes'. No one will be overlooked. Such a state must go where the money is and that is the middle class which only exists in your Marxist worldview. The American idea is not based on rigid categories of class but fluidity. Many members of your hated capitalist class have been wiped out by the current economic correction. They are no longer 'rich'. In fact, many have no retirement savings left. This should make you happy since your purpose is to tear down your neighbor rather than build yourself up. That is the program of the 'leveller, the radical egalitarian, the socialist'. The guys at Bear Stearns, Lehman Bros, Wachovia etc. had stock based retirement plans and have been wiped out. They have moved on fully aware of the risks they took. Why don't you?
- Tom C.
You weep for the retirement kitty of the guys who, for instance, ran Lehman Brothers.
Richard Fuld, head of Lehman Brothers, received a nice little $20 million envelope as a "going away present," to help him keep up his little 22 room cabin on North Street in Greenwich. This was, of course, on top of the $484 million he has received since 2000 in pay and bonuses.
As the old song goes, "Nice work - if you can get it."
- Fuld is one guy. I don't weep for anyone. Fuld was a schmuck who played by the rules he was given. I wonder what he paid in taxes since 2000? How much now worthless stock he owned? I'm sure you're as sophisticated in your appreciation of art as you are in your economics and politics. His wife's art collection, abstract expressionists I believe, is now on sale at Christy's. Why don't you make a bid? I hear his former employees, with their stock based retirement plans won't be bidding. Opens up all kinds of possibilities for wise, economically sound and forward looking progressives like yourself. Maybe you can get it before Henry Waxman finds a way to confiscate it. I'm sure the Greenwich cabin will be next on his radar if it's already on yours. Question for you, would you trade places with Fuld?