“...Innovation doesn’t come from the upper class. A recent study found that less than 1 percent of all entrepreneurs came from very rich or very poor backgrounds. Small business creators come from the hard-working, risk-taking, nothing-to-lose middle of America, but their entrepreneurial numbers are down – over 50% since 1977….”
The Rand worshipers of the Far Right, bought and paid for by a handful of Corporatist redistribution Fascists, are determined that the US is going to go through a period of extreme “shared sacrifice” in order to teach us a lesson in economics. It is about keeping the grossly unfair tax rates, where last year, 25 major US firms paid their CEOs more than they paid in Federal corporate income taxes. Boeing alone received a $605 million dollar tax refund on $5 billion in pre-tax profits. Their CEO was paid $18.4 million. In the past 10 years, Boeing has paid taxes only 2 twice.
These CEOs have created a Fix the Debt coalition that debuted on October 25. They want the Feds to cut out all this nasty 47% spending, while they pay even lower taxes! It is about breaking the middle class, giving them cheap, Chinese style labor, and turning the US into a Corporatist nation where only the ultra wealthy survive. Now, the individuals involved in this were part of the Simpson-Bowles Commission. The Pink Flamingo has no problem with that. Where I do draw the line is the fact that corporations and the ultra wealthy should pay the same rate as everyone else.
It’s straight out of an Ayn Rand fantasy.
Europe is the perfect example of why Randian economic theory is an abject disaster. If you want to understand what forced Randian austerity would do to the US, just look at Greece. Mitt Romney’s big business and libertarian backers want to force the US into a style of austerity that is literally killing people in Greece.
There is this popular myth, promoted by the libertarians of the Cato bunch, who are literally bought and paid for by the Koch Brothers, that austerity is good. That is solves problems, that it helps the economy. If we are to learn from recent history, it does not work. Oh, it works for the big guys. It leads to extremely high unemployment as the chart, below, shows.
There is a reason the libertarian far right, the Randian over-lords, the Corporatist Fascists who control the right, FOX Tabloid News, the talking heads such as Rush Limbaugh, Sean Hannity, Glenn Beck, Michael Medved, Laura Ingraham, Bill O’Reilly, and Mark Levin want the US pushed into such austerity. It creates high unemployment. When unemployment reaches a tipping point, people will be willing to work for less than minimum wage. The 0.1% become obscenely wealthy through their own version of redistribution, and the rest of us become impoverished serfs.
Greek style austerity, which Mitt Romney seems to embrace, has led to a 1930s style depression in Greece. Why on earth would we want this in the US, just when it is increasingly obvious that the economy is truly recovering from the great recession, no help from the GOP.
“...Greece is spiraling into the kind of decline the U.S. and Germany endured during the Great Depression, showing the scale of the challenge involved in attempting to regain competitiveness through austerity.
The economy shrank 18.4 percent in the past four years and the International Monetary Fund forecasts it will contract another 4 percent in 2013 as Greece struggles to reduce debt in exchange for its $300 billion rescue programs. That’s the biggest cumulative loss of output of a developed-country economy in at least three decades, coming within spitting distance of the 27 percent drop in the U.S. economy between 1929 and 1933, according to the Bureau of Economic Analysis in Washington.
“Austerity has been destroying tax revenue and therefore thwarting the intended effect,” said Charles Dumas, chairman of Lombard Street Research, a London-based consulting firm. “There’s no avoiding austerity, though, because these people have no borrowing power. The deficits are there.”…”
We live in an era, that a Pink Flamingo reader recently called “Corporatism”. Nothing fits that image like modern day corporate owners threatening their their employees to vote for whom they demand they vote, or they will lose their jobs.
“...Rand’s celebration of individualism and social indifference and her denunciation of charity and sacrifice provide a rare explicit profession of an ideology that lies hidden within modern political and economic thought as well as consumer culture. It is an anthropology fundamentally incompatible with Catholic doctrine…”
“...I am the misunderstood superhero of American capitalism, single-handedly creating wealth and prosperity despite all the obstacles put in my way by employees, government and the media.
I am a job creator and I am entitled.
I am entitled to complain about the economy even when my stock price, my portfolio and my profits are at record levels.
I am entitled to a healthy and well-educated workforce, a modern and efficient transportation system and protection for my person and property, just as I am entitled to demonize the government workers who provide them.
And speaking of whiners, isn’t Mitt Romney an Ayn Rand Hall-of-Famer for honestly expressing the victimization of the rich at the hands of the moochers? Didn’t he basically say, “Isn’t it clear that they have rigged the election against us! And yet for only $50,000 from each of you my brothers and sisters I will soldier on against these moocher barbarians!”
(Note to my fellow 99 percenters. Surely we should repent. My God what is wrong with us that we have no compassion for the burden we are to the Mitt Romney’s of the world?)
All of which brings us to the number one reason Romney has to try to make it all go away.
Forty Seven percent are lazy moochers? Forty Seven percent!
That’s got to include a sizeable number of white people.
Now if Romney had said 100% of the people were lazy moochers, some whites would still insist that he wasn’t talking about them. The people who don’t want the government messing with their Medicare are but one example of this widespread capacity for willful ignorance.
But others are more reasonable. And indeed, you can almost see the light bulbs going on in the heads of white people all over the country. It shows up in letters to the editor, sound bites on the news and private conversations.
For example, the day after 47% went viral, the Detroit Free Press quoted a white voter as follows:
Daniel Pier, 54, of Warren caught the comments on MSNBC’s “Morning Joe” on Tuesday. He had been undecided and was leaning toward Romney. Now, he’s moved toward Obama. Pier is on Social Security disability for a bad heart.
“I’m hearing him (Romney) talk about entitlements. … We’re depending on the government. I couldn’t live unless we collected that,” he said. “Every valve in my heart is bad.”
Mitt thinks white people are lazy moochers? Well then what’s the point of being a Romney Democrat? Isn’t the whole idea that our shared resentment over working hard and paying taxes to take care of them is our bond with you, Mr. Romney.
Being caught on tape implying that white people are lazy moochers too puts the whole Lee Atwater, Ronald Reagan, welfare queen, food stamp president, dog-whistle Republican Party franchise in jeopardy.
Do we owe Mitt our thanks and gratitude? I think so. He has given us a gift that will keep on giving long after the election is over. Thanks to this video more of us might stop apologizing for ourselves and start questioning the system. As if that weren’t enough, this video might also make it harder for them to use race to divide and conquer. …”
Part II continues, tomorrow….