Monday, December 26, 2011

Why worry about income inequality?

Cenk Uygur is absolutely right. And Republicans now want to eliminate estate taxes altogether! Apparently, they look at inherited wealth and think it's just great that wealthy heirs will never have to work a day in their life. They look at income inequality in America and want to increase it.

And when it comes to the banks, note that CEOs aren't being paid for doing well. They've got golden parachutes, so even when they're fired for doing a terrible job, they still get tens of millions of dollars for that. Not to mention free health care and other perks.

Seven big American banks - including Bank of America, which is struggling to avoid bankruptcy - are set to give out record bonuses this year, breaking even last year's records. Bank of America is forecast to increase compensation by 7%, despite the truly disastrous performance of its stock.

But the rich in America don't have to do well. They're above all that. They make these decisions for each other, in interlocking boards of directors, so they just scratch each other's backs. And no matter what, they've got the Republican Party in their pocket (and all too many Democrats, too).

Well, money runs our political system. You can't win elections without it. And if you make the people who have all the money angry, you're going to find some brand-new "grassroots organization," funded by anonymous corporations, running constant attack ads in your district.

If our country is to survive, we Americans have to be smarter than this. But it doesn't look like we are, does it?

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