INCOME REDISTRIBUTION? FIRST END INCOME MONOPOLY

The right wing wealthy in this country are raising the specter of unfairness in claiming that Democrats are seeking to tax them and give their hard earned money to the lower class of the population. They are waging a Robin Hood defense, skimming over the fact that their class, as in the ‘80’s decade of greed, have benefited overwhelmingly while only representing a small fraction of the country. In actuality the working class is questioning how they got those earnings in the first place.

Bill O’Reilly nightly bemoans taking “his money” but little is mentioned by any of this ilk about hard working people losing health coverage or the victimization of minimum wage workers who haven’t gotten an increase in 16 years and work hard for below poverty wages. No mention is made about unchecked CEO pay, agreed upon via the collusion of non employee board members who themselves are of the same ilk as the candidate CEO – wealthy white males mostly – to the ignorance of the stockholders.

The wealthy have manipulated corporations into not only paying golden parachutes, but golden coffins for those executives who die in office. Not only do CEO’s enjoy higher proceeds from life insurance policies, their estate receives salaries if they die where the working class would be left flailing in the wind, with lower death benefits to boost.

Everything is done to protect the wealth of this class. Not only do they benefit by paying significantly less these past eight years, they have no representation in the military. It’s a win-win; don’t fight and enjoy your money while others do the fighting for you. A kind of income protection at socialized government level wages, with veterans treated as yesterday’s news when fighting ends. Their sacrifice, if any, is limited to the pin of a flag lapel piercing their Armani suit and a hand held over their heart as they recite diatribe they will never live up to.
Thanks to capitalism, the “haves” always have the upper hand. Capitalism, while being the best form of economics, also needs to be tweaked. We created rules to eliminate monopolies, a direct violation of the competition addendum, to the behest of business, which seems to like unfairness when it is to their advantage. They have beaten down the working class by eliminating their defined pension plans and reducing more employee health premiums via payroll deduction.
The nature of capitalism dictates that money makes money, so those with more money watch their nest egg grow multiple times faster than those scrimping to save in a "rich get richer" ponzi scheme. This is why our economy is now based on wealth not work, and old money is dictating the rules over the working class struggling to survive, many times at the expense of their very own children. We have not only rich versus poor, but generations now pitted against one another.

Suppose the working class got wise and boycotted outlandishly priced items like Yankees tickets, or clothing and electronics, or automobiles. If we cancelled our cable and Fox News' revenue decreased, Mr. O'Reilly would eventually find out whose money he does have, after his assistants get laid off first. The haves will threaten layoffs not of their own, management or high priced prima donnas making more money in one year than twenty men in a lifetime, but of the vendors and ticket takers first – high class blackmail termed “negotiation” when done from behind a white collar. Of course with the addiction of wanting one’s son to see a ballgame, the “haves” can revel like drug dealers at the trough. Protection is needed to defend against the inequities and injustices perpetrated by the wealthy.

There’s a solution. Restore Clinton era tax schedules, the ones where the budget was balanced while the economy was humming along, with the exclusion of the first $20,000 of income for all taxpayers in calculating tax obligation. On paper there can be no declaration of unfairness, yet the wealthy will argue that the first $20,000 means nothing to them. They still want the inequity that currently exists on the tail end, the level of income few Americans get to reach thanks to the fact that the purse strings of American firms are held by the “haves,” and they don’t want to see anyone touch their nest egg, no matter how unfair. They rather pit working class against each other, giving them the illusion that they can one day be at their level with hard work, a scam due to current cost of living increases along with our induction into a global economy with no protection for the American worker who currently competes with third world wages.

Let’s forget all that. Here’s an alternative theory perhaps the wealthy could understand – it’s the working class’ turn.

David DiBello