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Capitalism Uber Alles: How the American Working Class Got Brainwashed

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  • Former Secretary of Labor Robert Reich argues that the economic downward mobility of American workers, has "to do with power...income and wealth in fewer hands." Apparently, many working class Americans want to keep it that way.
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  • Fairer Deal
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  • Washington at Work--for the Wealthy
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  • New Figures Detail Depth Of Unemployment Misery, Lower Earnings For All But Super Wealthy
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Myriam Miedzian, MyriamMiedzian.com/Huffington Post

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In his recent book, After Shock, former Secretary of Labor Robert Reich argues that the economic downward mobility of American workers, has "to do with power...income and wealth in fewer hands." Apparently, many working class Americans want to keep it that way. A recent SEIU poll reveals that, 38 percent of American voters are opposed to rescinding Bush's tax cuts for the 2 percent who earn $250,000 or more annually. 2 or 3 percent of taxpayers probably earn close enough to $250,000, to think they might be affected someday. This leaves about 33 percent voting against their self-interest -- higher taxes on the wealthiest would reduce the national debt, facilitate spending on levies, bridges, schools, healthc are, and create jobs. Similarly, an AP-GfK poll found that in the upcoming election, 58 percent of white working class Americans favor Republicans who opposed rescinding the Bush tax cut, and fought every Democratic bill benefiting low income earners including extending unemployment benefits.

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On the other hand, a 2005 study by Dan Ariely of Duke and Michael Norton of Harvard, reveals that when presented with unlabeled pie charts representing wealth distribution in the U.S where the richest 20 percent control about 84 percent of wealth and Sweden where the top 20 percent control 36 percent, 92 percent of respondents -- who reflected U.S. ideological, economic, and gender demographics -- stated they would rather live in a country with Sweden's wealth distribution.

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More...

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Related:

Fairer Deal, Sebastian Mallaby, New York Times | NY

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Washington at Work--for the Wealthy, Sam Pizzigati, Other Words

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  • "We cannot avoid the sad irony," as one new report has just concluded, "that government policy aimed at building wealth is largely helping the rich get richer."
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  • Uncle Sam is concentrating America's wealth, not sharing it.
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  • Think Again: Inequality and America’s Antiquated Politics
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  • Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth'
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New Figures Detail Depth Of Unemployment Misery, Lower Earnings For All But Super Wealthy, Huffington Post

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  • Those Americans earning more than $50 million increased their income from an average of $91.2 million in 2008 to almost $519 million. That's nearly $10 million in weekly pay!These 74 people made as much as the 19 million lowest-paid people in America, who constitute one in every eight workers."
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  • September Jobs Report Reveals America’s Emerging Third World Economy
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