Monday, January 10, 2011

Robert Reich: The REAL Problem

http://www.alternet.org/news/149435/the_problem_is_that_america%27s_richest_1%25_are_raking_it_in_--_not_public_employee_pensions/

"The Problem Is That America's Richest 1% Are Raking It in -- Not Public Employee Pensions"

"We can't let the conservatives pit private-sector workers against public servants -- it's a distraction from the ongoing huge wealth transfer to the richest Americans."

Public servants are convenient scapegoats. Republicans would rather deflect attention from corporate executive pay that continues to rise as corporate profits soar, even as corporations refuse to hire more workers. They don’t want stories about Wall Street bonuses, now higher than before taxpayers bailed out the Street. And they’d like to avoid a spotlight on the billions raked in by hedge-fund and private-equity managers whose income is treated as capital gains and subject to only a 15 percent tax, due to a loophole in the tax laws designed specifically for them.

"It’s far more convenient to go after people who are doing the public’s work - sanitation workers, police officers, fire fighters, teachers, social workers, federal employees – to call them “faceless bureaucrats” and portray them as hooligans who are making off with your money and crippling federal and state budgets. The story fits better with the Republican’s Big Lie that our problems are due to a government that’s too big.

"Above all, Republicans don’t want to have to justify continued tax cuts for the rich. As quietly as possible, they want to make them permanent.

"But the right’s argument is shot-through with bad data, twisted evidence, and unsupported assertions..."

....READ THE WHOLE STORY

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