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PDF versionThe 1 percent
by Dennis Coday on Oct. 11, 2011
David Brooks delved deep into his storage locker of misinformation to tell readers that the idea of blaming the richest 1 Percent for the country's problems is just silly. He told us that the really big ideas aren't about reversing the upward redistribution of income from the top, they are from centrists who want to do things like cut our Social Security and make us pay more for health care. ...
If you aren't reading "Beat the Press," commentary on economic reporting by Dean Baker, you're missing some of the best progressive economic thought available.
Today, for instance, Baker takes on New York Times columnists, David Brooks, calling him the Bard of the 1 Percent. Baker writes:
In other words, Brooks wants all those people who are unemployed and losing their homes to just suck it up. Nothing is going to be done to help you: get over it.
And why is nothing going to be done to help the 26 million people who are unemployed, underemployed or have given up looking for work altogether? The reason is that people like David Brooks and rest of the 1 Percent don't give a damn about you.
We do know how to do something about unemployment. According to research, the stimulus worked just about exactly as planned. It was designed to create 2-3 million jobs in a context where the economy needed 10-12 million jobs. There is no economic reason why we can't go the route of more stimulus -- aid to state and local governments so they don't have to lay off school teachers, infrastructure spending, youth jobs programs etc. -- it is just powerful people like David Brooks who don't want us to do anything.
Baker is just getting warmed up here. Read the full posting.
We were told that if we cut
We were told that if we cut taxes for the rich, it will help everyone, since the rich will have more money to spend, much of it will "trickle down" to the middle class and poor. So far, this has not worked, yet they still keep repeating it.
Thanks, Dennis----Dean
Thanks, Dennis----Dean Baker's article was SUPER!
Good point. As long as China
Good point. As long as China keeps lending the money, go for it. This debt, its for the children.
1% DON'T GIVE A DAMN!
1% DON'T GIVE A DAMN! .........Dennis, thank you for this. Baker is right and Brooks is just spinning the tales he receives from the investment banks that support him and his right-wide ideologue cabal. Having spent over 30 years in the highest echelons of Wall Street, I am certain of this. For example, the highly paid #2 at Lehman Brothers, which almost caused a worldwide depression, is now the #2 at AIG, which was rescued by almost $200 billion in a US taxpayer funded government bailout. This appears inexplicable and is available just be searching Google--yet nothing seems to be investigated. Wall Street and the 1% even appear to have their hooks into the Church via Opus Dei, the Knights of Malta, FADICA, LEGATUS, etc. Please note the comment to Eugene Kennedy's excellent current article, "You can't go to Rome again", under the heading, "LET'S GO BACK FURTHER" , accessible by clicking on to http://ncroline.org/blogs/bulletin-human-side/you-cant-go-rome-again .
CORRECTION ...........The
CORRECTION ...........The correct link is http://ncronline.org/blogs/bulletins-human-side/you-cant-go-rome-again and the comment therunder is, "WHY NOT GO BACKE FURTHER?" . The comment puts the present Church situation in a longer overall perspective. It is an important comment.
CORRECT LINK
CORRECT LINK ..............The correct link to the comment entitled, LET'S GO BACK FURTHER" under Eugene Kennedy's excellent current column,"You can't go Rome again", is accessible by clicking on to http://ncronline.org/blogs/bulletins-human-side/you-cant-go-rome-again .
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