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by Stephen Lendman
Saturday, Oct. 22, 2011 at 4:57 AM
Class War in America - by Stephen Lendman
Class war raged for decades. Business and America's super-rich always win. In his 1925 short story titled "Rich Boy," F. Scott Fitzgerald said:
"Let me tell you about the very rich. They are different from you and me. They possess and enjoy early...They think, deep in their hearts, that they are better than we.."
"Even when they enter deep into our world....they still think that that they are better than we are. They are different."
In his article, titled "The Truth About 'Class War' in America," economist Richard Wolff said:
"The last 50 years have indeed seen continuous class warfare in and over federal economic policies."
Corporate giants and America's super-rich waged war against working Americans and won. Notably since the 1970s, "(b)usiness and its allies shifted most of its federal tax burden onto individuals."
Since WW II, tax rates on super-rich Americans fell from 91% to 35% today. Obama's deficit cutters want it lowered to 24% along with eliminating some deductions with loopholes to compensate and save others. Moreover, they want the top corporate tax rate slashed from 35% to 26%.
Many corporate giants, in fact, pay minimal or no taxes. Some, like General Electric, get generous rebates in highly profitable years. They game the system, benefitting form tax laws they write. American workers lose out from greater than ever burdens on them.
Obama schemers also want deeper Medicare cuts, higher Medicaid co-pays, and Social Security's retirement age raised to 69 with lower cost-of-living increases. Privately they want Wall Street to control it to suck out maximum profits, then shut it down entirely.
In addition, they want home mortgage interest and tax-free employer provided health insurance capped or ended.
They represent business and super-rich elites. America's middle class is targeted for extinction. Since taking office, Obama capitulated to Republicans on preserving tax cuts for America's super-rich. He gave trillions of dollars to Wall Street crooks and other corporate favorites, including profiteers benefitting greatly from multiple imperial wars on humanity.
At the same time, he stiff-armed budget-strapped states and distressed households. Promising millions of new jobs, he created none. Four years into a Main Street Depression, real unemployment approaches 23%. In ravaged cities like Detroit, it exceeds 50%.
Federal worker wages were frozen and austerity cuts imposed. Examples include Low Income Home Energy Assistance Program (LIHEAP). Families needing help to heat homes in winter won't get it. Neither will students relying on Pell Grants.
Other imposed cuts affect:
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