The Rich Get "Punished" by Getting Richer

[kpete]

The Rich Get "Punished" by Getting Richer: How Bush Closed the Gap Between the Ultra Rich and Ultra-Ultra Rich and Left the Rest of Us With "Austerity"

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....we have inherited that legacy of a soaring debt under Bush that the super-wealthy were glad to ignore in return for lavish and gluttonous tax cuts. In part, the oligarchy that backed Bush – and of which his family has been a member of and upholder of enriching the already wealthy for decades – knew that the day would come when they could reduce Bush's debt on the backs of the working class.

That day has arrived and its slogan is "austerity." Except what is implicit in that one word is that austerity for the middle class and poor will reduce the debt, while the stock market soars to new heights and the US plutocrats not only aren't subject to "austerity"; instead, they accumulate even greater assets and a higher percentage of the nation's wealth.

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The ruling elite built up the deficit under Bush and now, with the assistance of President Obama, are going to try to reduce it by imposing austerity on those who can least afford the financial pain. Obama is making no systemic changes. Forget about the promise of "change." Maybe you can say of him, he is less worse than the worst would be.

Obama is signaling to the Republicans that he's willing to let the rich off easy, while cutting the lunch of a senior citizen down to half a tuna fish sandwich a day.

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MORE:
http://truth-out.org/buzzflash/commentary/item/17917-the-rich-get-punished-by-getting-richer-how-bush-closed-the-gap-between-the-ultra-rich-and-ultra-ultra-rich-and-left-the-rest-of-us-with-austerity