Our class enemies may be defined in various ways:
A. The rich, in this case the top 5% making over 105,000/year.
B. The corporations.
C. Wall Street, a subset of (2).
I include the rich because it is obvious that there is a huge transfer of wealth going on. On the individual level, only those in the top 5% have seen their share of the pie rise.
It is hard to delineate the transfer of wealth from individuals to corporations, since corporations are tied in with individuals.
For instance, 60 years ago, corporations paid about 40% of all income taxes in the US and workers paid about 6%. Now the figures are reversed: workers pay about 40% of all taxes, and corporations pay about 6%. Yet corporations continue to scream that they are overtaxed, demand lower taxes, and threaten to move offshore for lower taxation. I realize that those figures only add up to 50% or so of taxation, and I don’t know where the rest comes from. But it’s clear that there has been a huge shift from corporations to workers over 60 years or so.
It’s hard to say who is losing money in the mass income shift. The upper middle class, those making $56,000-105,000, has seen their share of the pie stay the same. They are neither winning nor losing in the race. They are holding their own and growing with the economy.
I would guess that the bottom 80% of the population, those making less than $56,000/yr, are the ones that are seeing their slice of the pie decline. So there is a mass transfer of wealth probably from those making below $56,000 to those making above $105,000. Those at the bottom end of the 80% are probably losing the most of all.
Here is how they are doing it:
- First they destroyed our unions. This really started kicking in in about 1973, but unions have been declining since 1955 or so. This also seems to be ongoing.
- Next they sent the manufacturing jobs overseas. This is apparently still ongoing.
- Then they raided all the pension funds and stole the money that had been sacked away for workers for their retirement. This is also ongoing and apparently accelerating since the task is not yet complete.
- Presently, they are in the process of eliminating employer paid health insurance. This project is just getting underway and will probably accelerate over time.
- They have all but exempted the wealthy from taxes in line with the classic Third World model. This project is definitely ongoing, and Republican President Barack Obama just gave it a big jump start by saying the tax cut bill. This one is definitely ongoing and not yet completed, but seems to be accelerating. Part of the game is a shift of taxation off of rent, wealth and investment income and onto wages. The rentier class is to be more or less exempted from taxation.
- They are trying to destroy public education and affordable college education, once again along the lines of a Third World model where public schools are underfunded, ruined and lousy and the only way to get a good education is to send your kid to private school. There will be moves in the coming year to make huge cuts in Pell Grants for college students. This project is very much ongoing and has been for a good 30 years or so. It is very much accelerating lately in the wake of budget troubles.
- They destroyed the value of our homes. This is ongoing here in California, as home prices continue to decline.
- The next on the agenda is Social Security Trust Fund. Republican President Obama will announce the opening shots in the war to destroy Social Security in his State of the Union address.
What I don’t get is why has the media, across the board, been 100% behind 1-8 in toto? It is almost impossible to find a daily newspaper, newsmagazine, or TV or radio news station that is not backing this project to the hilt. I’m not sure I understand this. Is it because the US media is completely owned and controlled by people making $105,000/yr.?
Also nearly the entire American intelligentsia is behind it. Are they representing their class interests here, since they most all make good money? Both political parties are behind it. The Republican Party represents only the rich and the upper middle class and is the party of class war, so this is not surprising.
But why the Democrats? Are the top Democrats also wealthy people working for their class interests? Is the Democratic Party in the last 20 years with the onset of the DNC working for the interests of their large corporate and wealthy donors, A-C above?
It’s interesting that there are few people in either party and almost no one in the mass media representing the interests of the bottom 80% in this class war. Most in both parties and almost everyone in the media is on the side of the rich waging class war on all the rest of us.