Certain media pundits’ hearts are aflutter over how honest, intellectual and responsible GOP vice presidential candidate Paul Ryan supposedly is. But not economics professor Bill Black, who shows that Ryan’s “Tinker Bell” budget proposal uses numbers that have nothing to do with the economy to achieve fiscal balance in the next few decades.
The 1 percenters targeted by those leading the Wall Street occupation had a profitable run between 1979 and 2007. Their average after-tax income grew 275 percent in that period, while income for the 60 percent of the population in the middle of the earning scale grew by just under 40 percent. (more)
The hard-right conservatives who dominate the Republican Party claim to despise the redistribution of wealth, but secretly they love it—as long as the process involves depriving the poor and middle class to benefit the rich, not the other way around.
It is class warfare. But it was begun not by the tear-gassed, rain-soaked protesters asserting their constitutionally guaranteed right of peaceful assembly but rather the financial overlords who control all of the major levers of power in what passes for our democracy.