As someone who is on the homeowners gravy train I was stuck by this part of the article:
“The utterly ridiculous tax expenditures directed toward the disproportionately affluent class of people called homeowners—mortgage interest deduction, property tax deduction, exclusion of capital gains on residences—by themselves sum to $115.3 billion in 2012.”
Of course we live in a society that knows that poor people are poor because they are shiftless, drug addled and lazy. We certainly can’t reward those people with any help. Meanwhile the rich and corporations are worthy recipients of government handouts without fear that we will be corrupting them.
I’ve often thought it would be a salutary exercise if we handed out these tax breaks at a universal government payout office. Here, everyone receiving funds from the government would line up. As they received their check a big sign above the window would flash out the amount of their check. I think people on SSI would be outraged at how their measly few hundred dollars a month compared to the payouts to the rich and corporations.
So much of this is a question of what and whose priorities are being met by government action/inaction. Presently we don’t have a political system even vaguely responsive to the vast majority of Americans. In fact it is serving the rich and corporations quite admirably.
It is fairly widely known that income and wealth inequality in the US is as high or higher than at any time except perhaps the Robber Baron period at the end of the 19th century. Lots of articles and books explain how this has come about over the last 30 years. In a recent NYTimes Magazine article, “The Purpose of Spectacular Wealth, According to a Spectacularly Wealthy Guy” by Adam Davidson, we are even offered an affirmative defense of this by a buddy of Mitt Romney from Bain Capital Edward Conrad.
Conrad… “aggressively argues that the enormous and growing income inequality in the United States is not a sign that the system is rigged. On the contrary, Conrad writes, it is a sign that our economy is working. And if we had a little more of it, then everyone, particularly the 99 percent, would be better off.”
But, leaving aside the obvious disconnect between any rational measure of value add by the wealthy and their incomes and holdings, does economic inequality really matter? Is it just that those of us in the not wealthy class, now branded The 99%, are jealous of all the toys of the wealthy? Their four or five houses, countless cars, airplanes, and all the rest?
Since my entry this morning I have been thinking more about the Presidency and Bush. My knowledge of 19th century Presidents is a but spotty. Certainly the names Buchanan, Pierce, Johnson and Grant pop to mind as less than top of the heap.
But, for the modern era, post WW2, Bush is clearly the worst, most destructive President.
In the international sphere, we will be digging out from the morass of his crazed policies for a decade. This will most prominently feature the disaster of Iraq. A particularly problematic consequence of Bush’s policies is the increased militarization of our foreign and domestic security strategies.
On the home front, we have the staggering debt, degradation of civil rights and government practices, and lost time dealing with health care, infrastructure, income inequality, education, housing and more. I do not particularly hold him responsible for the global economic meltdown. That is really the result of a global infatuation for ” free markets” in which both US parties and numerous others worldwide have indulged themselves for more than three decades.