Obama/Boehner's grand bargain assures new cuts. Obama's on record favoring lower corporate taxes. Expect nominal reductions from today top 35% rate to 28%. What's paid, of course, is much less.
Sometime next year, major tax code revisions will be quietly announced. Discussions about them are concealed. Otherwise, major social benefit cuts would look like double-dealing duplicity to fund corporate largese. More on what's coming below.
Wolff said US taxes over the last half century saw "a massive double (burden) shift from the richest individuals to everyone else."
Corporations and super-rich elites won America's class war. Everyone else lost out.
On December 13, Wolff revisited the topic. His Guardian op-ed headlined "Class war redux: how the American right embraced Marxist struggle," saying:
Republicans and conservatives used to say little about "classes and class warfare." America is a "classless" society, they claimed.
Most Americans are "wondrously comfortable and secure consumers," they say. Harsher views now prevail. Unguarded moments reveal them.
Prime targets are called "moochers." Romney called them "the 47%" always voting Democrat.
"Moochers" depend on government handouts, they claim. They include contractual federal obligations. They're for qualified eligible recipients.
Social Security and Medicare aren't entitlements. They're not welfare. They're insurance policies. They're funded by worker/employer payroll tax deductions.
Social Security provides retirement, disability, survivorship, and death benefits. It's America's most effective poverty reduction program.
It's worked remarkably well since inception. It once provided secure inflation-adjusted retirement or disability income. Manipulated CPI numbers erode annual amounts received.
It protects personal savings. It avoids risky private investments.
It's not going broke. When properly administered, it's sound and secure. Over time, it needs only modest adjustments. Doing so properly keeps it viable in perpetuity.
Medicare is America's largest health insurance program. Tens of millions are covered. Everyone over 65 and some younger disabled people qualify. So do others of all ages with end-stage renal disease.
Obama/Boehner/complicit congressional leaders/and corporate America want both programs privatized and eroded en route to ending them in their present form. They want Medicaid and public pensions treated the same way.