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The Coming Sell-Out to the Super Rich and What It Means for the Rest of Us [View All]

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ProudDad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-16-10 12:02 PM
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The Coming Sell-Out to the Super Rich and What It Means for the Rest of Us
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It is a reflection of how one-sided todays class war has become that Warren Buffet has quipped that his side is winning without a real fight being waged. No gauntlet has been thrown down over the trial balloon that the president and his advisor David Axelrod have sent up over the past two weeks to extend the Bush tax cuts for the wealthiest 2% for just two more years. For all practical purposes the euphemism two years means forever at least, long enough to let the super-rich siphon off enough more money to bankroll enough more Republicans to be elected to make the tax cuts permanent.

Mr. Obama seems to be campaigning for his own defeat! Thanks largely to the $13 trillion Wall Street bailout while keeping the debt overhead in place for Americas bottom 98% this happy 2% of the population now receives an estimated three quarters (~75%) of the returns to wealth (interest, dividends, rent and capital gains).

This is nearly double what it received a generation ago. The rest of the population is being squeezed, and foreclosures are rising.
Charles Baudelaire quipped that the devil wins at the point where he manages convince the world that he doesnt exist. Todays financial elites will win the class war at the point where voters believe it doesnt exist and believe that Mr. Obama is trying to help them rather than shepherd them into debt peonage as the economy settles into debt deflation.

We are dealing with shameless demagogy. The financial End Time has arrived, but Mr. Obamas happy-talk pretends that two years will get us through the current debt-induced depression. The Republican plan is to make more Congressional and Senate gains in 2012 as Mr. Obamas former supporters vote with their backsides and stay home, as they did earlier this month. So two years means forever in politician-talk. Why vote for a politician who promises change but is merely an exclamation mark for the Bush-Cheney policies from Afghanistan and Iraq to Wall Streets Democratic Leadership Council on the partys right wing? One of its leaders, after all, was Mr. Obamas Senate mentor, Joe Lieberman.

http://www.alternet.org/module/printversion/148857
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