Business As Usual: Another Mass Transfer of Wealth Upward

The NYTimes is currently charting where US taxpayers’ money is going in the capitalist class mass bailout of ’09. What makes this mass wealth transfer particularly egregious is the low rate of taxation on the rich.

Talk to me all you want about recession “recovery”, but, honey, capitalism cannot work solely on squeezing the working class dry. There’s got to be some material production in there somewhere, and today’s capitalist class has got nothin’. Nothin’. The term is “despotic feudalism.”

What I want to know is how, when the British empire declined, the British working class was supposed to be materially enriched. It’s what the economists’ charts proudly show. Why isn’t that happening in the US? Maybe British material improvement wasn’t due to capitalism per se (and imperialism), but rather to Keynesianism, as was material improvement in the US. Perhaps Argentina is the new (old) capitalist model.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s