America's Socialist Tendencies or Just More GOP Fearmongering?
The latest desperation jab from the McCain campaign accuses Obama of wanting to "spread the wealth."
Thank you, John McCain, for shoving the issue of "redistributing wealth" back into political primetime. Just two problems. You're only a quarter-century or so late -- and you have everything backwards.
When the Bush Administration is in the process of spending $1 trillion in taxpayer dollars to bailout some of the richest people in the country, while refusing to extend unemployment benefits for victims of the financial collapse or force banks to renegotiate predatory loans, I've gotta think that a few of Sarah Palin's "real Americans" are warming to the idea of spreading the wealth.
What Republicans don't want you to know is that redistribution of income and wealth toward the rich has be happening for decades, and it has accelerated since 2000 under a Republican Administration. [http://www.alternet.org/workplace/105653/the_massive_wealth_redistribution_that_doesn%27t_bother_john_mccain/]
The United States currently ranks 4th worst in income inequality, according to a recent report from 30-nation Organization for Economic Co-operation and Development - or OECD. Here's a link to the The U.S. has the 4th worst income inequality, behind Mexico, Turkey and Portugal of the 30 OECD nations. Here's a link to the report summary for the United States.
Report highlights:
- The U.S. has the 4th worst income inequality, behind Mexico, Turkey and Portugal of the 30 OECD nations.
- U.S. wealth inequality is even worse. The richest 1% hold 25-33% of the country's total net worth, the top 10% hold 71%. (By comparison, OECD average: top 10% hold 28% of wealth.)
- Redistribution of income by government plays a relatively minor role in the United States. Only in Korea is the effect smaller. This is partly because the level of spending on social benefits such as unemployment benefits and family benefits is low – equivalent to just 9% of household incomes, while the OECD average is 22%.
- The distribution of earnings widened by 20% since the mid-1980s which is more than in most other OECD countries. This is the main reason for widening inequality in America.
- Social mobility is lower in the United States than in other countries like Denmark, Sweden and Australia. Children of poor parents are less likely to become rich than children of rich parents. [AnyIdiot.org: U.S. 4th Worst In Income Inequality]
Republicans preached "trickle down" Reaganomics, but what we got was geyser up. This was no accident or inevitable result of globalization or free market Darwinism. Plutocrats in robes of free market theology designed the system to deliver the goods by changing tax code, trade policy, labor policy and corporate governance, by reducing oversight and regulation, and by attacking safety nets in place since the New Deal.
http://www.oecd.org/document/25/0,3343,en_2649_201185_41530009_1_1_1_1,00.html
American Socialism for the Already Rich
"Call it phony universalism, Robin Hood in reverse, or socialism for the rich -- whatever the name, the U.S. government is effectively targeting tax subsidies and legal protections at the more advantaged members of American society. The level of support is enormous, amounting to hundreds of billions of dollars each year. For every dollar spent on traditional anti-poverty programs, the United States spends almost as much through the tax code helping individuals who are lucky enough to have health and pension benefits at work or rich enough to buy a nice home (these are often the same people). This is how the United States can spend a ton of money on its welfare system and yet make fewer inroads against poverty and inequality than other affluent nations. Imagine a campaign against child obesity that encouraged kids to exercise daily and eat more Cheetos: U.S. social policy is beset by the same kinds of contradictions.
Some policy makers realize what's going on. When the Bush administration proposed new tax incentives for Health Savings Accounts, the Center on Budget and Policy Priorities quickly pointed out that most of these benefits would go to affluent taxpayers. The Democratic authors of the American Dream Initiative, a set of policies designed to expand and strengthen the middle class, were careful last year to propose refundable tax credits for college tuition so that more people with below-average incomes could benefit. But it's not enough to oppose bad ideas, or layer potentially good new programs on top of dysfunctional old ones. We also need to scrutinize existing programs and figure out how they got started, whom they really help, and what we can do to change them. Otherwise, we may find ourselves repeating these same mistakes as we respond to persistent poverty and growing inequality today. Moreover, if we can find ways to spend less on some of these existing programs, we can free up monies to serve more pressing social needs. The goal should not be to exclude the middle class from these programs but to ensure that more governmental benefits are distributed to those who truly need help."
continue reading here: http://www.alternet.org/workplace/49768/
Bill Moyers examines the current financial crisis and growing income divide in the October 24 edition of Bill Moyers Journal.
McCain endorsed a plan similar in principle to Obama's years ago, (as the New York Post reported) so he's got no room to talk as satirized here in this clip from the Daily Show:
3 Comments:
Matt,
It's common blogger courtesy to give credit to other folks' content that you post on your site, to avoid copying another blogger's entire post without permission, and to provide a link the the original source. The source here is:
AnyIdiot.org: U.S. 4th Worst In Income Inequality
Keep up the good work on your blog, but please do respect the work of others. Thanks. -AnyIdiot
I am soooo sorry. I had thought I linked it. It's practice on every blog I write to include a link. I think you'll see that if you look through my blog. This is just a mistake, and it's corrected now. This blog is mostly a collage and intentionally so. I credit each source, I just must have messed up on this one. There were a lot of links in there. Again, sincere apologies.
Matt,
Thanks for the quick response and for fixing the oversight. No worries.
I'm flattered that you found my post worthy of linking on your site. Feel free to reference AnyIdiot.org in the future. I'll do my best to continue adding info and insight worthy of you and your readers' attention.
And thanks for your work in cutting through the spin and BS. I'll definitely be adding your blog to my list to watch.
-AnyIdiot
Post a Comment
<< Home