Brilliant interview today with Prof. Richard Wolff on “Democracy Now”. He talks about the ideas that he explained in interviews on our site. New fact to me was how the corporations have reduced their tax burden from one and a half times the citizen burden (1940’s) to just one quarter of the citizen burder (today).
He got into the need for massive public hiring and mentioned that FDR in the ’30 had the government make 11 million new hires. And he finished talking about the right and need to talk about junking capitalism altogether and replacing it with something else.
All in very understandable langauge. See www.democracynow.org today, July 28. I watched online. More than usual interest 1,400 viewed online and there were many questions coming in online.
Also on the show was reporting on the enormous step backward in ethnic equality. The recession caused a 2/3 loss of Hispanic wealth, and a ½ loss of Black wealth. Now whites have 20 times as much property as minorities. A third of Blacks have negative wealth, meaning all they have is debts. Let’s hear it for the Post Racial society!
Looking at the Bohner Plan vs. the Reid Plan one notes one similarity, no tax increases. The Republican Fanaticism Agaisnt Taxes has won the day among the politicians.
Obama says he is talking about very modest cuts to social benefits. Translation: the old will be eating dog food again.