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Monday, August 20, 2012

Plutocrats For Inequality endorse Romney/Ryan

Daily Kos







Sun Aug 19, 2012 at 08:16 PM PDT

Americans For Inequality endorse Romney/Ryan



Americans For Inequality is a group dedicated to keep America as unequal as possible. They don't mince words about their beliefs. Although they are a fairly new organization, they have been working tirelessly to assure that the people on the top of the income ladder don't slip off of it. Tomorrow, they will officially endorse Mitt Romney in New Hampshire. And you're invited!
August 20, 2012

Americans for Inequality to Endorse Mitt Romney for President
(Manchester, New Hampshire)-The Board of Directors of Americans for Inequality, a citizen’s advocacy group which promotes the benefits of inequality, voted to endorse former Massachusetts Governor Mitt Romney (R) for President. “The Board of Directors voted to emphatically endorse Governor Romney’s candidacy for President” said Warren Bancroft, interim Chair of Americans for Inequality. “Americans for Inequality is prepared to commit considerable resources to help make Mitt Romney the next President of the United States.”

In the 2012 Presidential campaign, Americans for Inequality has been the first organization to educate voters about the benefits of vast inequalities. Americans for Inequality has been a pioneer in changing the narrative away from the costs and perils of inequality---and toward a new appreciation of how inequality plays an important and beneficial role in our economy.

“For far too long the poor, unemployed, and elderly have been coddled by America’s generous welfare system and exempted from contributing their fair share in taxes, while banks and companies have suffered under an oppressive regime. Mitt Romney and Paul Ryan’s budget plan will mostly rely on ending the era of entitlement and providing tax relief for upper-income households. That’s the beauty of the Romney/Ryan plan: the higher the income, the higher the tax break. Their budget plan will ensure that inequality will remain with us, as it should, for many years,” said Bancrof
I'm sure they will keep up the good work. If only the rich will stand up for the rich, where will that leave us as a country? We need to keep our elbow grease up at work so that they can continue to spend money on their interests, even if that means loosening up labor and environmental laws, because America stands for freedom, and we need to do whatever it takes to increase inequality and make us more free. I hope you feel the same way. So please, donate your time to this historical moment when Mitt Romney gets recognized for being a tireless crusader of keeping America divided and unequal, just like it should be.
Attend and spread the word.

Tags

It's the Inequality, Stupid: Eleven charts that explain what's wrong with America.

Mother Jones



Plutocracy Now

Eleven charts that explain what's wrong with America.

Want more charts like these? See our charts on the secrets of the jobless recovery, the richest 1 percent of Americans, and how the superwealthy beat the IRS.

How Rich Are the Superrich?

A huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.

The richest controls 2/3 of America's net worth

Note: The data (the most current) doesn't reflect the impact of the housing market crash. In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes. The top 1%, in contrast, had just 10%. The housing crisis has no doubt further swelled the share of total net worth held by the superrich.

Winners Take All

The superrich have grabbed the bulk of the past three decades' gains.

Aevrage Household income before taxes.

Out of Balance

A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the United States. Most thought that it’s more balanced than it actually is. Asked to choose their ideal distribution of wealth, 92% picked one that was even more equitable.

Average Income by Family, distributed by income group.
Download: PDF (large) | JPG (smaller)

Capitol Gain

Why Washington is closer to Wall Street than Main Street.

median net worth of american families, median net worth for mebers of congress, your odds of being a millionaire, member of congress's odds of being a millionaire
member max. est. net worth
Rep. Darrell Issa (R-Calif.) $451.1 million
Rep. Jane Harman (D-Calif.) $435.4 million
Rep. Vern Buchanan (R-Fla.) $366.2 million
Sen. John Kerry (D-Mass.) $294.9 million
Rep. Jared Polis (D-Colo.) $285.1 million
Sen. Mark Warner (D-Va.) $283.1 million
Sen. Herb Kohl (D-Wisc.) $231.2 million
Rep. Michael McCaul (R-Texas) $201.5 million
Sen. Jay Rockefeller (D-W.Va.) $136.2 million
Sen. Dianne Feinstein (D-Calif.) $108.1 million
combined net worth: $2.8 billion
10 Richest Members of Congress 100% Voted to extend the cuts
Congressional data from 2009. Family net worth data from 2007. Sources: Center for Responsive Politics; US Census; Edward Wolff, Bard College.
Download: PDF (large) | JPG (smaller) 

Who's Winning?

For a healthy few, it's getting better all the time.

YOUR LOSS,THEIR GAIN

How much income have you given up for the top 1 percent?

 

WANT MORE CHARTS LIKE THESE?

See our charts on the secrets of the jobless recovery, the richest 1 percent of Americans, and how the superwealthy beat the IRS. Some samples:

YOU HAVE NOTHING TO LOSE BUT YOUR GAINS

Productivity has surged, but income and wages have stagnated for most Americans. If the median household income had kept pace with the economy since 1970, it would now be nearly $92,000, not $50,000.



MEET THE ELITE

ONLY LITTLE PEOPLE PAY TAXES



Sources

Income distribution: Emmanuel Saez (Excel)

Net worth: Edward Wolff (PDF)
Household income/income share: Congressional Budget Office
Real vs. desired distribution of wealth: Michael I. Norton and Dan Ariely (PDF)
Net worth of Americans vs. Congress: Federal Reserve (average); Center for Responsive Politics (Congress)
Your chances of being a millionaire: Calculation based on data from Wolff (PDF); US Census (household and population data)  
Member of Congress' chances: Center for Responsive Politics
Wealthiest members of Congress: Center for Responsive Politics
Tax cut votes: New York Times (Senate; House)
Wall street profits, 2007-2009: New York State Comptroller (PDF)
Unemployment rate, 2007-2009: Bureau of Labor Statistics
Home equity, 2007-2009: Federal Reserve, Flow of Funds data, 1995-2004 and 2005-2009 (PDFs)
CEO vs. worker pay: Economic Policy Institute
Historic tax rates: Calculations based on data from The Tax Foundation
Federal tax revenue: Joint Committee on Taxation (PDF)

Read also: Kevin Drum on the decline of Big Labor, the rise of Big Business, and why the Obama era fizzled so soon.
More Mother Jones charty goodness: How the rich get richer; how the poor get poorer; who owns Congress?
Do you appreciate fair and factual reporting on Occupy Wall Street? Please donate a few bucks to help us expand our coverage.

Dave Gilson

Senior Editor
Dave Gilson is a senior editor at Mother Jones. Read more of his stories, follow him on Twitter, or contact him at dgilson (at) motherjones (dot) com. RSS |

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Saturday, August 11, 2012

Romney Has the Plutocrat Ticket





Content Section

Paul Begala: With Ryan, Romney Has the Plutocrat Ticket



By choosing Paul Ryan—the guy who wants to slash taxes on the rich and gut the government—Romney shows he’s decided to go nuclear in the class war. 

n selecting Paul Ryan, Mitt Romney has doubled-down on the one thing he has never flip-flopped on: economic elitism. Romney, born to wealth, has selected Wisconsin Congressman Paul Ryan, who was also born to wealth. As the former University of Oklahoma football coach, Barry Switzer, once said of someone else: both these guys were born on third and thought they hit a triple.
 
There's nothing wrong with inherited wealth. Lord knows great presidents from FDR to JFK came into their fortunes through the luck of birth. But there is something wrong with winners of the lineage lottery who want to hammer those who did not have the foresight to select wealthy sperm and egg.

Finally, we have peered into Mitt Romney's core. It is neither pro-choice nor pro-life; neither pro-NRA nor pro-gun control; neither pro-equality nor antigay. But it is pro-wealth and very anti–middle class. Mitt Romney has decided to go nuclear in the class war.

Paul Ryan, the darling of the New York–Washington media elite, is almost certainly not the most qualified person Romney could have picked. Unlike governors like Chris Christie or Tim Pawlenty, or a former high-ranking White House official like Rob Portman, Ryan has never run anything larger than his congressional office or the Oscar Meyer Weinermobile. The elite love Ryan because he speaks for more cowardly members of their class; his stridently anti–middle class policies are music to their ears.

You will often hear people who ought to know better dress up Ryan's savage economic priorities with euphemisms. Ryan wants to "fix" Medicare. No, he doesn't. He wants to kill it. Saying Paul Ryan wants to "fix" Medicare is like saying the vet wanted to "fix" my dog Major; that which used to work very well no longer works at all—and Major is none too happy with the procedure.
Ryan's budget is the fiscal embodiment of the deeply evil, wholeheartedly selfish so-called philosophy of Ayn Rand. In fact, Ryan has described Rand as "the reason I got involved in public service," and reportedly makes staffers read her works.
Paul Ryan and Mitt Romney
U.S. Rep. Paul Ryan waves with Republican presidential candidate Mitt Romney after he introduced Romney at a Wisconsin campaign stop last March. (Scott Olson / Getty Images)

Think about that. As my buddy James Carville has said, what would all the Best People say if Nancy Pelosi made her staffers read, say, Margaret Sanger? Or if Barack Obama made interns study Das Kapital? Sure, a few months ago, facing Catholic protestors at Georgetown University, Ryan said he renounced Rand. But as the national Catholic weekly, America, wrote, he did not change the substance of a single policy. Some renunciation. It seems to me Ryan has renounced Rand's politically incorrect atheism, not her morally bankrupt philosophy of Screw Thy Neighbor.

Politically, the choice does the one thing Romney needed least of all: it shifts the focus of the 2012 presidential election away from the soft economy and onto the Ryan—now, Romney-Ryan—budget. The most radical governing document in a generation, the Romney-Ryan budget would dramatically alter America's basic social compact. No less an expert than Newt Gingrich called it "right-wing social engineering".

Don't be fooled. Ryan is no deficit hawk. He voted for all the policies that created the current ocean of red ink: the Bush tax cuts for the rich; the war in Iraq; the Bush Medicare prescription-drug plan, the first entitlement without a dedicated revenue source. Ryan cloaks his brutal budget in the urgent rhetoric of fiscal responsibility, but that's a Trojan Horse. As the Center for American Progress has noted, under the Romney-Ryan budget, "the national debt, measured as a share of GDP, would never decline, surpassing 80 percent by 2014, and 90 percent by 2022."

Ryan's real goal is to destroy the ladder of opportunity for the poor and the middle class. Look at his budget: Medicare would be shattered and replaced with a voucher system wherein seniors would be given a stipend and told to negotiate with the health insurance goliaths. According to the Congressional Budget Office, ten years after the Ryan plan was enacted, seniors would pay $6,400 per year more for the same health care, as the stipend would fail to keep up with projected cost increases.

And that's just for starters. One out of every four dollars spent on transportation—which is already underfunded—would be cut. Veterans' benefits would be cut 13 percent from what President Obama says is needed. Young men Paul Ryan voted to send into combat would suffer once more on the home front. Education would be cut, food safety, air traffic control, environmental protection—almost everything that makes us safer, smarter or stronger—would get hammered.

How can a budget so brutal not make a dent in the debt? If you have to ask you have not been paying attention. What is the holy grail for princelings like Mitt Romney and Paul Ryan? Of course: tax cuts for the rich. The Tax Policy Center crunched the numbers and found that under Romney's proposal, 95 percent of Americans would see their taxes go up by an average of $500, but millionaires would receive an extra $87,000 tax cut. The net result: an $86 billion annual shift in the tax burden away from those making over $200,000 a year and onto those making less.

And so Romney Hood has his Friar Tuck. And somewhere in hell, Ayn Rand is cackling with glee.