Appeared originally on Truthout on September 19th, 2011
Republicans and conservatives have done us a service by describing federal policies in terms of "class war." But by applying the term only to Obama's latest proposals to raise taxes on the rich, they have it all backward and upside down. The last 50 years have indeed seen continuous class warfare in and over federal economic policies.
Professor Richard Wolff appears with Thom Hartmann on The Big Picture to discuss the recent wild volatility of the stock market and some of the ramifications.
Appeared originally in The Guardian on September 19th, 2011
Taking his cue from Warren Buffett, President Obama has announced a 'millionaire tax' as part of his budget plan; Republicans have denounced it as 'class war'. Photograph: Rick Wilking/Reuters
Pacifica's Mitch Jeserich hosts “Letters & Politics,” a look at burning political issues and debates, and their historical context, within the US and worldwide.
In the context of deepening economic decline, Richard Wolff analyzes and attempts to answer these questions:
What were the causes and the results of the recent political theater focused on raising the US debt ceiling? What does the "deal" between President Obama and the Republicans mean economically and politically? What are the alternatives that Congress never explored? What can and should now be done, economically and politically?