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Notes on Class Warfare – Krugman

Via: NYT

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 THIRTY 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.  (Fuck ’em all!)

http://krugman.blogs.nytimes.com/

===

Via: The State Column – September 16, 2011

Michael Bloomberg to Congress: ‘TIME to EXPECT RIOTS’

New York Mayor Michael Bloomberg warned Congress Friday, saying members  should expect riots if the nation’s rate of unemployment remains above 9  percent.

“We have a lot of kids graduating college, can’t find jobs,” Mr. Bloomberg  said on his weekly radio show. “That’s what happened in Cairo. That’s what  happened in Madrid. You don’t want those kinds of riots here.”

Mr. Bloomberg also noted that the nation’s poverty rate, which rose to the  highest level in over a decade, was the latest indication that Congress is  failing America.

“The public is not happy,” he said. “The public knows there is something  wrong in this country, and there is. The bottom line is that they’re upset.”

Riots have hit a number of nations, including Greece and countries throughout  the Middle East, as workers continue to search for jobs. A recent Labor  Department report found the U.S. failing to add a single job in the month of  August as the rate of unemployment remained above 9 percent.

Mr. Bloomberg focused on college students, saying the next generation of  workers are lucky to find any jobs in the current economic climate. Mr.  Bloomberg noted that the ramifications of the economic crisis are likely to be  felt for years to come.

“The damage to a generation that can’t find jobs will go on for many, many  years,” the New York mayor said.

Speaking Friday, Mr. Bloomberg PRAISED President Obama’s attempts to grow the  economy, saying Congress and politics have contributed more to slow growth than  the policies put forth by the Obama administration.

“At least he’s got some ideas on the table, whether you like those or not,” Mr. Boomberg said. “Now everybody’s got to sit down and say we’re actually gonna  do something and you have to do something on BOTH the REVENUE and the EXPENSE SIDE.” (will they? highly unlikely)

Mr. Bloomberg, an independent, criticized the partisan politics of Congress,  saying the inability of Republicans and Democrats to compromise on ways to fix  the economy has eroded confidence. Mr. Bloomberg endorsed the notion of  increasing taxes, saying it was necessary for balancing the nation’s budget.

“The only way you solve this problems is that everybody pays a little more  and everybody gets a little less,” he said.

http://www.thestatecolumn.com/articles/michael-bloomberg-to-congress-time-to-expect-riots/#ixzz1YeQzQBNw

===

personal thought:

I’ve always been somewhat surprised there hasn’t been a ‘middle-class’ Howard Beale screaming out the window,

“I’m mad as hell, and I’m not going to take it this anymore!”

http://www.youtube.com/watch?v=q_qgVn-Op7Q

.

September 22, 2011 - Posted by | Uncategorized | , , , , , , ,

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