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Tue Nov 27, 2012, 11:30 AM

The push to fix the debt is a billionaire- and corporate-financed looting scam

Read that headline again. You knew it was billionaire-financed. You may not have known it’s a corp op as well (not that there’s much daylight between the billionaires and the corps). But mainly it’s just a looting scam, like the Bush (now Bush–Obama) Tax Cuts were nothing but a looting spree.

Who are the looters?

Let’s start here, on the financing, with this from The Professor (my emphasis everywhere):

he deficit-scold movement … by the way, is a hydra-headed beast, comprising many organizations that turn out, on inspection, to be financed and run by more or less the same people; dig down into many of these groups’ back stories and you will, in particular, find Peter Peterson, the private-equity billionaire, playing a key role.

But the deficit scolds aren’t giving up. Now yet another organization, Fix the Debt, is campaigning for cuts to Social Security and Medicare, even while making lower tax rates a “core principle.” That last part makes no sense in terms of the group’s ostensible mission, but makes perfect sense if you look at the array of big corporations, from Goldman Sachs to the UnitedHealth Group, that are involved in the effort and would benefit from tax cuts. Hey, sacrifice is for the little people.

Thus Krugman, who’s not alone in making these points.

http://americablog.com/2012/11/the-push-to-fix-the-debt-is-a-billionaire-and-corporate-financed-looting-scam.html

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Reply The push to fix the debt is a billionaire- and corporate-financed looting scam (Original post)
UCmeNdc Nov 2012 OP
AnotherMcIntosh Nov 2012 #1
msongs Nov 2012 #2
november3rd Nov 2012 #3
John2 Nov 2012 #4

Response to UCmeNdc (Original post)

Tue Nov 27, 2012, 11:43 AM

1. Many "organizations" fianced and run by the same people. You could also the phrase "many politicians

 

How many of these well-financed politicians are going to vote for the "Grand Bargain"?

How many of those who have been bought and paid for are going to vote for the pending let's-send-even-more-American-jobs-to-foreign-countries "free trade" agreement designated by some as the TPP?

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Response to UCmeNdc (Original post)

Tue Nov 27, 2012, 12:38 PM

2. not a very nice thing to say about your congress and president nt

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Response to UCmeNdc (Original post)

Tue Nov 27, 2012, 02:21 PM

3. Educating the Public



I read that, too, yesterday. It struck me that one of the reasons the billionaires hate Earned Benefits is because it keeps Joe Sixpack invested in the government. It would be much easier for the corporations to consolidate their control if the public didn't give a shit. As it is, we're very wary of corporate lobbyists, money and muscle in Washington. Americans want a strong government to regulate business. The corporate chiefs hate that. They want to take us down a peg.

And they want to get their meat hooks on our retirement security!

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Response to UCmeNdc (Original post)

Tue Nov 27, 2012, 04:02 PM

4. Krugman and

 

Buffet, would be what I characterize as whistle blowers. That is why I dismiss some of these so called moderates, which they try to demonize people they call radical lefties. They try to mute a legitimate rational opposition. Their positions are not extreme and out of the norm at all, like many on the extreme right. The majority of the
Things that caused the deficit, are things that were not paid for. They are right about that. Things that weren't paid for are the Wars,bailouts,Tarp and huge taxcuts for the wealthy on the notion it would trickle down to the middleclass and poor. Is Iraq paying us back with cheaper Oil? The answer is no. Has the wealthy maintained a strong economy with jobs? That answer is no. Now, they want to accuse the middleclass and poor, of creating this deficit by breaking a contract, that was agreed to Decades ago. The answer should be a resounding no! You created the Deficit, pay for it!

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