Robert Reich: The President's Last Stand Is No Stand At All: Why the Tax Deal is an Abomination
The deal the President struck with Republican leaders is an abomination.
It will cost $900 billion over the next two years — larger than the bailout of Wall Street, GM, and Chrysler put together, larger than the stimulus package, larger than anything that’s come out of Washington in years.
I try to post lightly when it comes to politics (nobody likes a sanctimonious rant) but I implore you to read Reich’s analysis of the “compromise” President Obama has made on tax cuts. It is an issue that one Tumblr post can’t accurately represent, but his take, subjective though it may be, seems pretty spot on. The New Right loves to rally against income redistribution. Except they only take issue when it goes from the top to the bottom. The last 30 years have seen a level of income redistribution unparalleled since the 1920s. Do you think it’s a coincidence that the last time wealth disparity was this high was right before the Great Depression? Sometimes hyperbole is justified because it’s accurate. This is class warfare, people. I’m not sure which is worse: that nobody is doing anything about it or that maybe we can’t.
