Friday, December 10, 2010

The New Plutocracy

In a new book, Winner-Take-All Politics, Jacob Hacker and Robert Pierson analyze the political steps that has led over the last 30+ years to the income and wealth inequality of today's US.  Andy Kroll discusses the book in an essay on the Counterpunch website.  This essay is quite relevant against the backdrop of the recent debate over the extension of the Bush taxcuts.   In short, extension of the tax cuts for the wealthy and cuts in the Estate Tax are just the latest in a long line of political measures that have engorged the bank accounts and portfolios of the richest Americans.

On the other hand, perhaps you'd better skip this essay.  It's just too damn depressing for us ordinary folk.

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