Obama's post-election pivot to austerity and warQuicklink submitted by Sheila Samples Permalink
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|During the election campaign, Obama made an issue of calling for an end to the Bush tax cuts for the wealthy--a move that would result in a relatively small increase in the tax rate for top earners. Exploiting the popularity of raising taxes on the rich, the administration is seeking to give itself a fig leaf of "equal sacrifice" as it gets down to the business of gutting social programs. Whatever the details of the agreement that is ultimately reached, it will involve historic cuts to programs that benefit the working class while increasing the wealth of the financial and corporate elite.|
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