http://www.anewwayforward.org/blogs/2010/02/19/the-illusion-that-the-rich-will-save-us/Sure, I’d say yes to a progressive tax code, a rollback on all the tax breaks and loopholes that allow the MEGA to beat out all competition and a yes to tax breaks for small and medium businesses. But, our democracy can’t count on the rich even though we have been.
Because we believed that our economy is best run by the technocrats and the wealthy, we have a situation where the rich players and the financial elite are able to uphold their dignity more than they should after helping to crash the economy through ballooned financing. The traction they get in blaming the buyers, the people who took out the loans when they know almost nothing about finance, is not grounded in reality. The bankers who know everything about finance, which is exactly the point that they understand the loans they are giving out and understand best how to transfer debt, make money off of interest, package up bad loans, sell securities and collaterized debt obligations, are still the ones making decisions about where our shared resources should go. Why we don’t have more objective, more research-heavy academics, is a product of the human race for the top. We, the people, are attracted to the rich and the powerful and have let them run the country for too long. This is the dilemma of the middle class, those who have some but are closer to almost having more, look to the rich as the older bigger brother/sister.
Yet, these big brothers are less wise, our academic output or innovation level is more focused on profit-making. Our corporate-controlled academia is working against the public, money does not solve all issues so not everything can be run according to the law of money. Democracy in America is being gauged on how much money a few individuals can make
If you look at banking, the economy, finance, corporations, power, etc. for too long, you start to become an unbeliever in what a world run by the rich can really give you and the poor. Sure, they can donate to charity, but they spend hundreds of millions every year on lobbying against reason. How is this efficient? Sure, they have enough capital to incubate important social projects, but they don’t and that’s not their focus anyway. The rich foundations are few and far in between. Taibbi says in his most recent article, “There’s even a term in con-man lingo for what some of the banks are doing right now, with all their cosmetic gestures of scaling back bonuses and giving to charities. In the grifter world, calming down a mark so he doesn’t call the cops is known as the “Cool Off.”"
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