Friday, March 04, 2011

This is what politics is about: teachers versus bankers.

Jon Stewart nails it.

Remember, politics is ultimately about money, and we are living in the era of the Robber Barons where income inequality is at its most severe since the 1920s.

Why are our governments broke? Largely because we don't tax wealthy people enough. And now, because we won't tax millionaires enough, we are firing tens of thousands of teachers, social service providers, cops and firefighters.

You have to pick a side. Either you vote to make the bankers wealthier or you vote to hire more teachers. Either you vote to make the middle class even poorer, by making unions weaker, or you vote to tax rich people more.

Embrace it: we want to raise taxes on rich people. Because then we have the money to spend on things that make the rest of us better off. Things like health insurance. And college tuition. And in the process of taxing rich people more, taking their money and spending it on everyone else, we make our economy stronger. That's why Democratic policies are better for the economy than Republican policies. Turns out, taxing the rich more and spending that money on everybody else means more people have money to spend -- which makes our economy strong. And when we don't tax the rich more and most people have to pay more for health insurance or college tuition or transportation, then we have all have less money to spend and the economy suffers. Makes sense, right?

You want to balance the state budgets? Repeal the federal tax cuts on rich people that the Republicans absolutely insisted on, and put all that money into state budgets.

Or we can continue to let the rich grow even richer while the rest of us get poorer. The way to finance a middle class is with higher taxes on the wealthy. No other way around it.

Here's the segment.


Steve Bartin said...

Your comments are interesting. Let's tax universities with their 7 figure presidents and football coaches. Be careful what you wish for : it just might happen.

Reed said...

That's what this all comes down to. It is the apex of the class war that's been going on since Bush took office. And no amount of information has helped people understand the real battle taking place.

The question is - will the average republican voter continue to pull the wool over their own eyes and stand for the billionaires? Why am I not hopeful?

I've been paying less attention to the story than I should because I have equal parts disgust and fear. Disgust for how misguided we have become and fear for the probable outcome.