Wealth: When Will The 98% Tell The 2%, Enough Is Enough?

Last night, as reported by News Junkie Post’s O. Olson, Congress passed, by an overwhelming majority, a two year renewal of the Bush tax cuts. The bill is a nice extra Christmas bonus for the wealthiest 2 percent of Americans, and it will only amplify the monumental US budget deficit. The logic behind the bill goes against, not only common sense but also against the global trend, notably in Europe, to  cut spending and increase taxation in order to address a spreading budget crisis. The governments of countries such as Greece, Ireland, Portugal and Spain are pushing for unpopular austerity measures, and richer countries such as the UK and France are trying to implement the same type of economic policies often by cutting social benefits and programs.

If austerity is the trend in Europe, it is certainly not the case in the United States. The US political and financial ruling class, which can be credited for starting the global financial meltdown of 2008, is still betting on the “virtues” of shock capitalism by cutting taxes and not cutting spending. What Congress did last night is quite simple: Our politicians made the decision to charge our common national credit card with a $700 billion gift to themselves and their real constituents, which are the wealthiest 2 percent Americans. And, once again, future generations will have to pick-up the astronomic tab. That is, of course, unless the United States goes completely bankrupt from 30 years of reckless financial and economic policies.

However, Americans, especially Democrats, should not be surprised at all. The new documentary “Inside Job” exposed  how the same players, often switching  jobs from top Wall Street executives to “public servants” rigged the system, and are still running the show. By giving Wall Street full license to operate like a Ponzi scheme, we have allowed this very dangerous symbiosis between Wall Street and Congress, where the financial sector is truly in charge of the electoral American process.

Before he became president, Barack Obama was denouncing the “Fat Cats” of Wall Street. Two years later, this hypocritical  populist stand has been exposed as a lie. President Obama has, in his own economic team, some of the worst fat cats he was denouncing a while back. The de-regulators or former Wall Street executives  such as Larry Summers, Tim Geithner, Ben Bernanke etc are behind all financial and economic decisions in the Obama administration, and they fully qualify as fat cats.

The Oligarchs: Wall Street Fat Cats And Congressional Fat Cats

In November, many confused American voters were fed-up with Washington, and decided to vote for what they thought were the outsiders of the Tea Party. The Tea Party activists were conned, and now their so called representatives will just be  pawns  in the same old Washington game where only money can do the talking. If a majority of Americans, traditionally the ones voting Republican, are voting against their own financial interests, it is not the case for Senators and House Representatives. In other words, last night, Congressional millionaires voted for their own personal interests, financial gains and the ones of their real friends: Namely the wealthiest 2 percent of Americans.

In effect, despite a dreadful national economy, Congressional members’ personal wealth has increased since the 2008 crash. Last night, Congress voted an enthusiastic yes for they own financial stimulus. According to a recent study from the Center for Responsive Politics, Congressional members’ personal wealth collectively increased by more than 16 percent between 2008 and 2009.

According to the study, nearly half (261)members of Congress are millionaires. Of these Congressional millionaires, 55 had an average calculated wealth of $ 10 million or more in 2009, with eight in the $100 million plus range. In 2009, the median wealth of a US House member stood at $765,010 up from $645,503 in 2008. The median wealth of a US Senator was an astronomical $2.38 million up from $2.27 million in 2008. For all members of Congress, regardless of chamber, median wealth in 2009 reached $911,510 up from $785,515 in 2008.

“Few federal lawmakers must grapple with the financial ills-unemployment, loss of housing, wiped out savings- that have befallen millions of Americans. Congressional representatives, on balance, rank among the wealthiest of wealthy Americans, and boast financial portfolios that are all but unattainable for most of their constituents,” said Sheilla Krumholz, Executive Director at the Center for Responsive Politics.

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45 Responses to Wealth: When Will The 98% Tell The 2%, Enough Is Enough?

  1. Ole Ole Olson
    +8 Vote -1 Vote +1Ole Ole Olson
    December 18, 2010 at 12:36 am

    Personally, I feel betrayed by what has happened. So many people came out of the woodwork to fight for real change and reform the last few years, and extending tax cuts for the rich is a slap in the face.

  2. +24 Vote -1 Vote +1Greg
    December 18, 2010 at 1:22 pm

    To answer the Question: When Will The 98% Tell The 2%, Enough Is Enough?

    The rich have already been told. They know already. They don’t care. Nothing will change… unless the masses do something about it. So what can we do about it?

    Well, thankfully, Thomas Jefferson put the answer in the American Declaration of Independence when he wrote:

    Whenever any Form of Government becomes destructive, it is the Right of the People to alter or abolish it, and to institute new Government.

    Unfortunately, that is the only way any real change will happen. The rich establishment will not listen or change their ways. The only thing that will bring about change is revolution. I know it sounds radical, but we’ve tried everything else. The rich won’t change until revolution makes it so.

    • +4 Vote -1 Vote +1Bob H
      December 18, 2010 at 7:10 pm

      There are many members of Congress who think that a comment like that makes you a terrorist and therefore should be jailed without the benefit of a trial. We’re already a large part of the way there. Do you think they’d lose any sleep over taking the next step if it protects the rich and themselves?

    • +5 Vote -1 Vote +1Bart Mar
      December 18, 2010 at 7:22 pm

      The rich don’t need to change anything. Our government, on the other hand, needs to quit spending more than it takes in and there is absolutely no need for them to take more of my middle-class money… or the rich’s…. or anyone else’s. The government needs to quit giving handouts to every Tom, Dick, and Sally that will vote for the representative that “gives” it to him or her. That goes for companies as well as the “underprivileged”. Once our government representatives found out they could buy votes everything, including the deficit, spiraled out of control. TJ was entirely correct but the rich are not the problem.

      • +1 Vote -1 Vote +1Matthew
        December 24, 2010 at 2:30 pm

        But when we live in a plutocracy, where the rich and the government are completely entangled, the rich are part of the problem. How can you separate the two when executives from transnational corporations go on to serve in public offices? Perhaps you’re right about not focusing specifically on the rich, however, the two are now one, and that is the real problem.

    • +5 Vote -1 Vote +1dick
      December 18, 2010 at 11:56 pm

      I agree. It looks like the perfect time for a revolution.

    • +1 Vote -1 Vote +1Greg(Germany)
      December 19, 2010 at 4:53 am

      I completely agree with you. I bet if you put the fear into them they’ll learn a lesson or two. Get a majority of the people to storm their damn mansions and demand change. What can they do? It’ll take too long if we wait for re-elections!

  3. +3 Vote -1 Vote +1Mark E. Smith
    December 18, 2010 at 6:30 pm

    In any other country where much of the population was unemployed, homeless, and hungry, if members of the ruling elite spent millions on a lavish wedding for their kid the way the Clintons did, it would be an obscenity.

    Too many Americans are materialistic Capitalists who want to be rich themselves and idolize the rich, half even going so far as to vote for the rich, to understand that the rich are looting our treasury the same way oligarchs do in any banana republic.

    Our oligarchy is safe because the only time Americans rise up is when the Star Spangled Banner is played at a ball game. We have no political party of the left to represent the workers. The only unions that stand up for their members are led by immigrants and Americans despise immigrants–even though only Native Americans are not descended from immigrants.

    Americans care more about their cars than about the millions of innocents killed in our wars for oil. This is a capitalist, corporate criminal culture with very little social consciousness.

    Fortunately, there is a nonviolent answer. If people stop voting, the oligarchy, seeing that they no longer have the consent of the governed, will take their ill-gotten billions and go live in their foreign mansions alongside other corrupt oligarchs from other banana republics., Of course they may leave their paid militias here to repress us, as in Haiti, but they themselves won’t stay if they are in any danger. Oligarchs usually don’t.

    But as long as half the population grants their consent, via ballots they know might not even be counted, to candidates they cannot hold accountable, the oligarchy feels safe and secure in continuing to loot our treasury without worry.

    A liberal or progressive is somebody who thinks that our system is broken and needs to be reformed. A radical is somebody who knows that our system is working exactly as the framers of our Constitution intended it to, to ensure that those who own the country, rule the country. Voters, be they conservatives, moderates, liberals, progressives, Democrats, Republicans, Libertarians, Greens, independents, or any other group that signifies its obedience to the oligarchy by doing its civic duty, are not radicals. Bad enough that approximately half the country still does its civic duty, but disgusting that they don’t even remember to flush afterward.

    • +5 Vote -1 Vote +1wowzers
      December 18, 2010 at 7:18 pm

      lol. just terrible. would you mind naming one example in human history when abstaining from voting created change? thanks.

      • +2 Vote -1 Vote +1Mark E. Smith
        December 19, 2010 at 2:45 am

        1. Apartheid South Africa. When only about 7% turned out for an election, the Apartheid regime tried to install the “winning” candidates anyway, but everyone knew that the regime no longer had the consent of the governed and no longer could claim any legitimacy. Although the violence did continue for some time afterward, the election boycott marked a turning point, when countries like the US could no longer support Apartheid by claiming that they were supporting the legitimate government of South Africa, and it was only after the election boycott that the Apartheid regime began to make concessions.

        2. Cuba. When the U.S. urged Batista to hold an election and only about 10% of the population turned out to vote, he got on a plane and left the island. It was this election that told Fidel Castro that he had the support of 90% of the population.

        3. Haiti. Once Aristede was removed from office and his party Lavalas, the most popular political party in Haiti, was removed from the ballot, election turnouts decreased to as low as 3%. The US-backed regime is enforced there only through military might and has no claim to legitimacy or to the consent of the governed.

        You cannot get free, fair, open, honest, verifiable elections by saying that if you don’t get them, you’ll continue to vote in rigged elections, or in elections where the popular vote can be overturned by voting machine or central tabulator glitches (more than 90% of all ballots cast in the US are tallied by computers and are completely unverifiable), political party super-delegates, the Electoral College, Congress, or the Supreme Court..

        Another example of a successful election boycott was in Ireland. When their government tried to introduce electronic voting machine, the Irish simply refused to use them and the machine, purchased at great cost, had to be scrapped.

        Article I, Section 5 of our Constitution makes Congress the sole judge of the “elections, returns, and qualifications” of its Members. So any time Congress wishes, it can Constitutionally decide that a person who was election, wasn’t really elected, or isn’t really qualified, and not even the Supreme Court could intervene. By ensuring that the popular vote would not be the final say in US elections, and omitting any right of recall at the federal level, the framers established a plutocracy rather than a democracy or republic.

        In a democracy or republic, the popular vote is the final say, and voters can hold their elected officials accountable during their terms of office, which is the only time they’re supposed to be representing their constituents, rather than having to wait until they’ve done all the damage they could and then attempting to elect different unaccountable officials. If you can’t hold them accountable while they’re supposed to be representing you, they’re not your representatives, you cannot exercise your will through them, and you do not live in a republic or any other form of democracy.

  4. +8 Vote -1 Vote +1David
    December 18, 2010 at 6:45 pm

    Greg, advocating revolution at this point is utterly hyperbolic. We have not tried everything. In fact, we have not tried anything. We are at fault, not Washington, because every two years, we send them the message: Yes. Keep doing what you’ve been doing. We like it.

    Want change? Then stop voting for Democrats and Republicans. Refuse to vote for anyone with a “D” or an “R” after their name. Tell your friends. There is a mechanism built-in to American democracy to allow for peaceful revolution, every two years. We are not using our power, as citizens, to change anything. We are using our power to keep things exactly the same, and then complaining about the results.

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    Vote -1 Vote +1Wealth: When Will The 98% Tell The 2%, Enough Is Enough?

  6. +1 Vote -1 Vote +1Randy
    December 18, 2010 at 7:44 pm

    The real question is, “When will the 98% figure it out for themselves”?

    Why are we blaming the wealthy for being wealthy? This issue of taxing the rich to feed the poor is THE entitlement program of entitlement programs.

    Who has ever done anything substantial, sacrificed, put their entire life and worth on the line for something they believe in? The rich are rich because they are smart. Because they played by the rules – like them or not – and have tried to do something.

    The tax is on ‘earned income’, not dividends, and interest. rich are rich because they don’t have ‘earned income’. They have their cash working for them, instead of working for the cash.

    I’m dirt poor myself, and aspire one day to be wealthy. Not because I love money, but I love what I can do with money.

    Want to change the system? Then sacrifice, educate yourself, work hard and dedicate yourself to achieving something so you can make a pile of cash and then turn around and help others ala Bill Gates and Warren Buffet.

    Stop hating the 2%, and start asking yourself how do you get in the 2%?

    Typical of my generation – ready to blame everyone but themselves. No personal responsibility.

    • -4 Vote -1 Vote +1weewahz
      December 18, 2010 at 8:11 pm

      Well said. What a great country we live in where such boundless opportunity exists.

      • Gilbert Mercier
        +5 Vote -1 Vote +1Gilbert Mercier
        December 18, 2010 at 8:22 pm

        Yeah, “boundless opportunity” for the heirs of the 2 percent who can benefit from a decent education system.
        For everyone else, in the best case scenario they will be slaving around tor minimum wages to keep you yard clean, build your house, pick up your trash etc

        In the worse case scenario some of the 98% will end up populating the vast US penal system.

        • +1 Vote -1 Vote +1Doug G
          December 19, 2010 at 3:40 pm

          Not sure of much, but Im sure you havent worked a minimum wage job is loooooooong time.

    • +6 Vote -1 Vote +1MeToo
      December 18, 2010 at 10:21 pm

      What do you mean “got rich by playing by the rules”? You mean they had the rules changed to benefit themselves. Like the oil companies getting billions to subsidize looking for more oil even though they’re making record profits. No that’s not earning money. That’s taking unfair advantage of special access to legislators that the poor don’t have. The poor don’t have a lobbyist at their beck and call.
      You call getting the fed to give over $2tril in near zero interest loans to banks who screwed the country in the first place “playing by the rules”. That $2tril … where does it come from? Sounds like the rich go to the gov hat in hand begging for more so we can have an even greater concentration of wealth.
      There’s no name this can be called but REDISTRIBUTION OF WEALTH FROM THE POOR TO THE RICH. Why should the rich beg? They get to beg directly to legislators. The poor aren’t heard on capital hill. You just refuse to call a spade a spade. The obscenely rich gained wealth by weaseling it – yes in a shrewed and smart way, but not in an ethical way. I guess that’s what you really admire about them.

      I know ppl who’ve “educated themselves” and work hard – a veternarian with a successful practice. He was dropped by a PRIVATE HEALTH insurance company DEATH PANEL.

  7. +4 Vote -1 Vote +1Zak
    December 18, 2010 at 8:33 pm

    Utter Garbage.

    1- It is morally wrong to steal something from one group to give to another no matter how “good” you think the cause.

    2- The media and ridiculous articles like this one write as though some additional benefit was given to just the rich and all of a sudden we have charged our credit card with an expense. In reality this extension just keeps in place the existing tax code. Which is progressive meaning the “rich” pay much much more taxes than the middle class or poor.

    3- Why doesn’t anyone look at the existing data? Nearly half (49%)of the United States pays ZERO or even Collects money through federal taxes.
    The top 10% pays 73% of Federal taxes! The bottom 40% actually make a profit. So we have a transfer of money from one group to another. ( Theft )
    http://www.cbo.gov/publications/collections/taxdistribution.cfm

    4- It’s a economic disaster to tax the segment of society who provide the jobs. Just imagine you are one of the evil rich people and your taxes raise significantly. You are going to react in ways to minimize losses. Fire workers, stop investing, and raise prices, etc.

    5- How can anyone agree with a death tax much less a 50% one!? This money has already been taxed. Imagine you save up your entire life fortune and pass it on to your kids but the government steals half. Disgusting.

    6-This entire debate is a distraction. Keeping existing ( already too high ) tax brackets is NOT creating the deficit. It’s out of control spending by BOTH parties. We should look to the UK who is attempting to actually balance their budget.

    The problem with Obama and perhaps democratic governments in general is Economic decisions are only made in the short term. We do what gives immediate results ( Stimulus ) we can see without thinking about the unseen negative consequences and we certainly don’t plan past a few months in the future. All that matters is what gets votes now.
    For Example, cash for clunkers.
    What we see:
    Auto industry gets to sell more cars meaning we save a few jobs.

    What we don’t see:
    -People are encouraged to purchase something they don’t need and go thousands of dollars into debt.
    -The vehicles that were traded in were destroyed by law. The result is the lower class( who we are trying to help? ) is disproportionately punished. They are the ones who are in the market for a < $5,000 car that is now destroyed.
    - Mis-Allocation of resources is rewarded. Companies that made gas guzzlers still sold their product where they otherwise would not have. This is NOT capitalism. Some companies must be allowed to fail while others succeed.

    The true "change" we as Americans should desire is drastic cuts in federal spending. I would suggest starting starting with a pull out of Afghanistan/Iraq. As far as taxes go we should strive for a truly fair system such as a Flat tax of 15% with no deductions or a national sales tax. Either would be exponentially better than our existing system.

    • +5 Vote -1 Vote +1Chris
      December 18, 2010 at 10:35 pm

      Excellent post. And Nice that you cited your sources. I agree with you100%.

      Since when is letting someone keep the money they earned a ‘gift’? The problem is out of control spending… Why is this so hard for people to understand?

    • +2 Vote -1 Vote +1MeToo
      December 18, 2010 at 10:36 pm

      Zak, you don’t even deserve to be American. Theft is giving billions of tax money to oil companies to search for oil even when they’re making record profits. Stealing from one group and giving to the other is Warren Buffet paying 16% tax rate while his secretary pays double. YOU ARE NOT A PATRIOT. You condone the fed giving over $2 tril in low interest loans to the banks (McDonalds got some too – man are they hurting) so they can turn around and loan to us at much higher rates? You support the rich going direct to legislators (since they have direct access and influence) with hat in hand. This is REDISTRIBUTION OF WEALTH from us to the rich. … and it’s disgusting that people like you support it. The rich don’t live in a vaccuum. They operate in OUR stable markets. They benefit from workers educated by PUBLIC EDUCATION. Their commerce takes place on OUR ROADS. If they paid a tax rate commensurate with their benefit from the government, they would be paying more. They benefit more. They’re subsidized to the point of swimming in money. Why not, the can pick up the phone and have a legislator at their beck and call – this access and influence is a tremendous benefit the rest of us don’t enjoy. Why don’t people like you leave the USA and go to a banana republic where you belong – where there’s no middle class.

      • +1 Vote -1 Vote +1Capitalist Patriot
        December 19, 2010 at 2:12 am

        MeToo is another example of the uneducated being the the loudest. What is your source that Warren Buffet pays 16% and his secretary pays double? Do you just make things up?
        Blaming the rich for your problems is illogical. Most of the “rich” earned their money by starting small business, coming up with a new product or investing properly. http://allbestlist.blogspot.com/2009/05/millionaire-statistics.html
        Where do you get this idea that the “rich” can just walk into the Senate and ask for money?
        The fact is, the rich subsidize your life. Your tax rate is lower because the rich pay %35 or more. Guess who employs people? Companies. Not everyone has the brains or ambition to start their own company, so most are employees. Without these companies the employees would have nothing.
        Capitalism is a system which creates competition. Competition drives innovation which creates jobs. You would rather have the rich taxed at a ridiculous rate so your Section 8 payments increase. The USA is a capitalist society. Socialism does not work (USSR, North Korea, Cuba). Socialism breeds laziness. If we stopped social programs and let the poor starve, there would certainly be more of them finding jobs.
        BTW, I am not in the %2, but hope to be one day through hard work and sacrifice.
        Get your facts straight before you post. There is no redistribution of wealth from the poor to the rich. The bottom %50 don’t even pay taxes though they use the roads, schools and public departments.

        • Vote -1 Vote +1Mike
          December 19, 2010 at 6:10 am

          Indeed Warren Buffet started out well-off, and became the richest man in the world gradually through great investments (that made others rich as well, increased productivity, and provided well paying jobs).

        • -1 Vote -1 Vote +1eish
          December 21, 2010 at 2:11 am

          @ Capitalist Patriot…and Zak…you are typical brainwashed American fools, so sad. You don’t even know how naive you are. Truly sad to see people fight and try and justify the rich been taxed less. And while you protecting them they are stealing the US blind, through other means. why do you think you fighting wars right now? You think its for WMD’s….bwahahhaahhahahahahahaha. Its all to make a quick buck well billions of bucks. Maybe your local banker will give you a loan someday to open your billion dollar corporation. Or to buy your family a home then when the market collapses they will get a bail out from the government and then still take your home. Oh wait this happened…..But hey keep fighting the good fight for the rich. They appreciate it. I’m sure one day they will say sorry for using you as a pawn in there schemes to make a quick buck, while you and your family go hungry and are homeless. Peace out Mr Capitalist Patriot…bwahahahahahahahahh

    • Ole Ole Olson
      +3 Vote -1 Vote +1Ole Ole Olson
      December 19, 2010 at 12:20 am

      we should all just beg for more scraps from ‘master’s’ table then, right? No offense, but BS. The rich are not the ones who provide jobs, jobs are create by demand, and there will always be demand for certain things in life (food, shelter, entertainment, etc.). We owe the rich nothing. They on the other hand, owe US everything, as without the working men and women who actually create the wealth that they enjoy, they would have nothing. They would not even be able to feed themselves.

      • -3 Vote -1 Vote +1left
        December 19, 2010 at 4:41 am

        EVERY single business in some way relies on a big corporation run by, you guessed it, rich people. Even a small diner in the middle of the desert relies on a nation-wide food distribution company to receive the food they need to cook for patrons.
        What you’re thinking about is a self contained economy, which only works in small villages, where every one has a unique job and thus everyone is in demand.
        You HIGHLIGHT how stupid average (or in your case, way below average) americans think.
        Without them, there is NO working men and women. They can take their business elsewhere, production based companies can take their jobs to foreign workers.
        Go educate yourself a bit before running you’re mouth. My mentally handicapped cousin has better thought process than you

        • +6 Vote -1 Vote +1matt
          December 19, 2010 at 7:03 am

          Amusing that you’re pointing out the lack of education in others when you don’t understand the difference between “your” and “you’re”

      • +2 Vote -1 Vote +1Mike
        December 19, 2010 at 6:12 am

        Hatred and envy is not the path to creating a strong nation. Total wealth needs to be increased, the existing wealth doesn’t need to be shifted around.

        And Demand DOESN’T produce wealth. It’s this consumerism oriented American attitude that thinks BUYING things is what makes an economy stronger. It’s PRODUCTION that is what provides wealth and allows us to buy. Without production, there is nothing to buy. Buying is easy. It’s the producing part that is hard.

  8. -1 Vote -1 Vote +1Sonoma Sam
    December 18, 2010 at 8:37 pm

    I keep sending emails but nothing ever changes….

    Where is Hunter S Thompson when you need him? We need a great white shark with a fist full of answers; not this crap. I can hear the sound of my money going to the rich right now…..

  9. +3 Vote -1 Vote +1jojo
    December 18, 2010 at 8:58 pm

    i see a lot of the 2% want us 98% to STFU.

    how many comments against the 98% are there?

    i say stand for your right to fight.

    the votes dont work. they are filled in by dead people. look at the ballot counts and the names and addresses for the people whom voted.

    my grand mother somehow voted but yet she has been dead for well over 10 years. how the hell did she vote?

    we the people need to stand up fro our rights. dont be scared to die for what you believe in. your children and many others will remember you.

    we remember the fallen in WW1 WW2 etc.

    do not be scared to stand up for your convictions.

    call me a terrorist and you yourself become one!

    i am not saying in any way to just kill and mame. i am saying take on opposer’s.

    yes my spelling is not that great. you know why. public schooling.

    but thats right. the text books we used from 15 years earlier were suppose to educate us.

    we are pansies. our forefathers are spitting on us.

    TAXATION WITHOUT REPRESENTATION.

    dont give me the BS we vote for the taxes. who voted this time? i sure and hell didnt. did you?

    we are back to square one. we lost.

    we are all dead at one point or another. why not fight for what is right and do the rest of humanity a favor.

    what happens if we all stop paying for electricity. do you think they will shut us all off? i do not think so. if they did they would have no profits.

    we are the money.

    please for the life of anything look up uniform commercial code.

    we are the money. we are what is counted as currency. your birth certificate is in all capitols. look up the difference and you will see we all have a straw man.

    this is what needs to be stopped.

    the world is overpopulated. disease is spreading rapidly(H1N1, maleria, etc).
    but all we care about is the $$$$$$$$$$$.

    GROW UP.

    money buys things yes. but if no one is around to make things to buy. then what good is the money?

    hell in the USA we do not even own our property. look at the bottom of your DEED.

    now grow up and fight. we will all perish if i am the only one.

    we have one option left. NOW USE IT!

  10. -4 Vote -1 Vote +1shenoyjoseph
    December 18, 2010 at 10:48 pm

    they have succeed taking the right decision for wealth

  11. -2 Vote -1 Vote +1Jimmyjoe
    December 18, 2010 at 10:56 pm

    Amazing how many feeble minds can be rallied by such brain washing and the politics of envy.

    Politics of envy will always have a place as long as people believe they are ENTITLED… get out and get a job… earn the money… send your kids to better schools….

    This crying that the government isn’t providing for me is so sad… provide for yourself…

    As ZAK so well put… giving X percentage tax break to everyone will effect the rich the most… AS IT SHOULD… just as in increase will effect them more..

    You will always have liberals running around saying “see the tax breaks went to the top 2% the most” Yeah!!! NO KIDDING!!! duh… and feeble uneducated minds will say.. “yeah.. thats not fair!!”

    who do you think will buy the cars/planes/buildings that blue collar workers make/support ?

    Yes Zak.. this article is Utter Garbage! Just a grown up version of “Johnny got more ice cream than I did mom!”

    • Ole Ole Olson
      Vote -1 Vote +1Ole Ole Olson
      December 19, 2010 at 12:16 am

      Yes, but what do you really think?

    • +3 Vote -1 Vote +1Mr Question
      December 19, 2010 at 1:31 am

      Well then, Mr. Jimmyjoe, would you like to tell us all where you fall between the 98% and the 2%? What do you make a year? Because your words sound an awful lot like a tax-cut beneficiary talking down to the poor to make them feel like they shouldn’t complain while they’re getting utterly shafted by the rich.

      • -2 Vote -1 Vote +1Jimmyjoe
        December 19, 2010 at 8:05 pm

        I raise 5 kids on a single income of less than 70k a year. I have a good job and I have worked hard for it. My wife and I clip coupons and watch our pennies.

        Life, Liberty and the PURSUIT of happyness. NOT the guarantee of happyness.

        Entitlement is a cancer that will rot this country from within.

        “Utterly shafted by the rich…” Politics of envy… more of the Johnny got more ice cream than me mommy..

        Its so easy to feel sorry for yourself and complain about who’s doing what to you than to get off your butt and do something about it..

        America is full of opportunity and prosperity for those that have the will.

  12. Vote -1 Vote +1Michael
    December 19, 2010 at 1:17 am

    You refer to the austerity in cut backs in Europe particularly countries like the UK. Perhaps I’ve missed the point but these cut backs, which are falling mostly on public services, will likely harm to most deprived on the UK who rely on those services. The Government’s next step is to raised sales tax from 17.5 to 20 percent from January 2011 – hardly a sliding scale of taxation targetting the most wealthy.

  13. +1 Vote -1 Vote +1708ugg
    December 19, 2010 at 1:20 am

    hello, I’m from China,the first time to your blog

  14. -2 Vote -1 Vote +1Tired of Ignorance
    December 19, 2010 at 10:12 am

    Gilbert Mercier obviously does not understand economics which seems to be a major intellectual deficiency common to those who consider themselves to be progressives. The economic austerity measures that are being put into place in the European countries have been caused by the politicians/people in those countries living beyond their means for many years. Before the European Union was established, countries that did this usually destroyed the value of their currency (runaway inflation). Now the EU countries are limited by the EU organization and cannot just print Euros to bail themselves out of short term economic problems. If those countries continue to raise taxes on their populations they become less and less competitive (from a business standpoint) in the global market. If they raise corporate taxes the companies move to a country with a more friendly business environment. Their only chance at correcting the imbalance is to limit spending ie. cut social programs.
    Increasing taxes on a population during a recession is suicide economically, Obama finally understood this (he’s not very smart). Constantly abusing and threatening business with an unstable regulation environment and higher taxes simply makes business look somewhere else to expand their operations (Obama does not understand this he’s not very smart).
    Progressives need to learn more about how things work, they need to learn about how business responds to politically driven issues (it can usually be predicted with a high degree of accuracy ).
    One of Obama’s biggest mistakes was bringing so many people into his administration directly from the academic world. People that have excelled in an academic environment but have no practical experience in the real world are almost worthless to a politician that has to deal with the real world. The last two years have been so painful because we have had so many highly ideological people in power that prefer to remain ignorant of basic economic truths. I’m hoping the change in January will begin to repair the damage.

    • -2 Vote -1 Vote +1Kent Jackson
      December 19, 2010 at 1:33 pm

      Who is John Galt?

      The more the government takes, the less I (and other productive earners) will want to be successful and create viable businesses that will create income for others.

      Please look at the total amount of taxes people pay. Why is it assumed that just because people earn more they should pay a an even HIGHER PERCENTAGE. Why? Will they get a higher percentage of the services the government provides? No they won’t. The top 20% portion of earners (earning over $100,000 approx.) already pay an average of $57,000 in taxes and receive an average of $18,000 in services. What logic requires higher earners to pay even more for less? The only fair system is a flat tax with no sweet heart deductions and exemptions and cuts in spending. Your ideas on redistributionism are socialist and communist. Source:http://www.taxfoundation.org/files/sr151.pdf

  15. +5 Vote -1 Vote +1SIck and Tired
    December 19, 2010 at 2:08 pm

    There is nothing we can do. They’ve made sure of that. If we try they will throw you in jail. Just shut up, sit back and watch America crumble at the hands of the greedy’s. It’s inevitable.

  16. Vote -1 Vote +1Glenn
    December 19, 2010 at 2:10 pm

    Enough of the majority bellyaching about rich people and wanting to loot the wealthy minority. The majority needs to put away the stupid tendency to punish the very people who create wealth and make it possible for the non-entrepreneurs to have jobs. The lefties need to take a close look at all of the truly great socialist nations — Cuba, North Korea, USSR, Venezuela (a disaster in the making) — and ask themselves why these paragons of socialism haven’t got a pot to piss in, or don’t exist any more.

    • Ole Ole Olson
      +3 Vote -1 Vote +1Ole Ole Olson
      December 20, 2010 at 4:35 am

      You are incorrect in a basic premise here however Glenn. It is not the rich that create wealth, it is the working men and women in America who do. All wealth comes from labor, from folks who actually build things and maintain systems, from the guy who builds your car to the gal who fixes your plumbing. That is wealth creation, not some abstract number hidden away in a Swiss bank account that seems to justify one human to get waited on hand and foots by other humans.

      For the record, if you want to see real socialism in action, don’t look at communist regimes, look at socialist democracies like Sweden, Norway, and Finland. I assure you, life is better for the vast majority there.

  17. -2 Vote -1 Vote +1anon
    December 19, 2010 at 4:33 pm

    It’s amazing that people already feel entitled to take nearly 50% of someone’s income, and that if they try to reduce that to 48%, that’s some grievous injustice…

  18. +2 Vote -1 Vote +1One Voice
    December 20, 2010 at 8:12 am

    Most of us have been educated by political talking points rather than the facts
    .
    Political parties and their consultants manipulate us with their messages to perpetuate their existence rather than their principals, using class warfare and personal destruction to vilify their enemies. Capitalizing on the fact that humans can be led by a charismatic spokesperson.

    My technique for trying to understand political movements is to not affiliate with a party, gather facts and only then support the very best candidates for office.

    If something seems “too good to be true” it usually is.

    Our solution to this current economic crisis is shared sacrifice and most of all, LEARN from it. Research real, historical economic facts and base your decisions on facts not emotions. Vote (hire) the very best people you can and hold them accountable.

    We must ensure that we, political parties and the media stop personal attacks on candidates and prospective candidates. Ask yourself this, “Why would a successful, competent person subject their self to the ordeal of seeking public service?” and you gain insight to the personality types that hold office in this environment.

    Don’t be quick to blame one party; it took us all to get in this mess.

    Take party affiliation out of the equation and base your decisions on actual facts rather than emotion. You will make better decisions and we will be a better society for it.

  19. Vote -1 Vote +1sweet j
    December 20, 2010 at 4:47 pm

    “…to cut spending and increase taxation in order to address a spreading budget crisis. ”

    our government is NOT, i repeat, is NOT cutting spending, they want to tax more so they can pay for the obama care and the biggest ponzy scem of all time; medicare and social security.

    you cannot compare and should not compare our government to any others.

  20. +1 Vote -1 Vote +1eish
    December 21, 2010 at 2:13 am

    @Capitalist Patriot…and Zak…you are typical brainwashed American fools, so sad. You don’t even know how naive you are. Truly sad to see people fight and try and justify the rich been taxed less. And while you protecting them they are stealing the US blind, through other means. why do you think you fighting wars right now? You think its for WMD’s….bwahahhaahhahahahahahaha. Its all to make a quick buck well billions of bucks. Maybe your local banker will give you a loan someday to open your billion dollar corporation. Or to buy your family a home then when the market collapses they will get a bail out from the government and then still take your home. Oh wait this happened…..But hey keep fighting the good fight for the rich. They appreciate it. I’m sure one day they will say sorry for using you as a pawn in there schemes to make a quick buck, while you and your family go hungry and are homeless. Peace out Mr Capitalist Patriot…