Both parties on board to destroy America's social contract.
by Stephen Lendman
Previous articles explained fiscal cliff duplicity in detail. At issue is destroying America's social contract. Both parties agreed early in Obama's first term. They plan killing it incrementally by a 1,000 cuts.
Class war rages. Private wealth and power are pitted against essential public needs. Property rights, individualism, and free-market mumbo jumbo hammer ordinary people mercilessly. Neoliberal harshness reflects it.
Warren Buffet once said, "There's class warfare, all right, but it's my class, the rich class, that's winning."
Obama, Boehner and complicit congressional leaders agree. Plans are to give corporations and America's privileged class more. Unprecedented wealth extremes will widen.
Public needs will grow. Shared sacrifice is one-way. Both parties concur. Obama and Boehner publicly dance around what both leaders agreed on months or years ago. Media scoundrels pretend otherwise.
On September 19, 2011, economist Richard Wolff headlined his Guardian op-ed "The truth about 'class war' in America," saying:
"Republicans claim (Obama's) millionaire tax is 'class war.' The reality is that the super-rich won the war" long ago.
Tax hike fear-mongering claims:
(1) raising them "amount(s) to un-American 'class warfare,' pitting" ordinary Americans against corporations and super-rich elites; and
(2) tax hikes negatively affect productive investment and job creation.
Evidence proves otherwise. Post-WW II, every personal income dollar raised was matched by $1.50 on business profits. Now it's 25 cents.
Ordinary households bear today's burden. Social justice are four-letter words. Corporations pay increasingly less. Nominally from 1989 - 2007, they paid 24.7% of profits. Since 2010, they averaged 12.4%. In reality, many pay much less.
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.