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When we combine the new evidence of our current oligarchy thats been provided by the corporate stooge supreme court with this brand new and rare poll of the 1% done by the academic journal "Perspectives on Politics", we can easily understand our Govt's ambivalence towards economic justice and middle and working class prosperity.

http://www.opednews.com/...

When the .1% own the politicians, both Dem and Con, it can be assumed that those same politicians will try and enact policies that their owners want.

Well what do the owners want?

This poll has some answers, and those are below the fold.

First a breakdown of the wealth in the sample polled:

73% of the respondents in this study were wealthier than $5 million. 36% were wealthier than $10 million. 22% were wealthier than $20 million. And 8% were wealthier than $40 million.
The polls show that these people are extremely active politically and they vote religiously:
40% of the respondents had "Made Contact With" (which was a conspicuously undefined phrase in the study) the person's U.S. Senator.

37% had made contact with with his Representative.

12% had, with a White House Official.

21% had, with an Official at a Regulatory Agency.

Of these "contacts," 44% were asserted to have been for private business reasons, such as to "try to get the Treasury to honor their commitment to extend TARP fund to a particular bank."

99% of respondents had voted in 2008.

84% said that they were paying attention to politics ""most of the time.' Asked how many days of the week they talk politics, the median response was five days.

We wouldn't be in our current political situation if 99% of the middle and working classes voted regularly.

Evidence that they own the politicians:

"Fully two-thirds contributed money to politics, giving an average of $4,633 to political campaigns or organizations over the previous twelve months." And, "A remarkable 21 percent ... solicited or "bundled' other peoples' political contributions."
How many of my fellow Kossacks have donated more than $4600 to political causes? If you can't afford to make large donations, why should your representative listen to you when 94% of political race victories go the the candidate that spends more money?

So we've seen how active they are politically, now what policies do the prefer? Stop me when some of these start to sound familiar.

87% were opposed to "responsibility of the government to reduce the differences in income between people with high incomes and those with low incomes." Studies of the general public showed that the comparable percentage among the public was 54%.
83% were opposed to the idea that "our government should redistribute wealth by heavy taxes on the rich." 48% of the general public were.
These two aren't too surprising.
Overwhelmingly, by a 33% net margin, top 1%ers wanted Social Security spending to be "cut back." Even more overwhelmingly, by a net 46% margin, the general public wants it to be "expanded."
By a net 19% margin, those rich want federal spending for health care to be "cut back"; and the public, by a net 44% margin, want it to be "expanded."
The wealthy don't need SS and medicare so of course its logical to them that those programs that overwhelmingly benefit the middle and working classes should be cut.
81% of the rich oppose the idea that "The government in Washington ought to see to it that everyone who wants to work can find a job." 68% of the general public favor that same idea.
92% of the rich oppose the idea that "The federal government should provide jobs for everyone able and willing to work who cannot find a job." 53% of the general public support it.
The wealthy don't need jobs from the Govt and they obviously don't care about the middle and working classes. Full employment is just not a priority for the wealthy. Corporate profits are at all time records with 10% unemployment so what benefit would full employment have for the .1%? Full employment would just mean that workers demand higher wages and be less compliant because they wouldn't fear their bosses as much with plenty of job opportunities in the economy.

I could go on and on with the results of the poll, but I won't. If you are interested in getting a deeper glimpse into the psyche of the wealthy, just go to the link at the top of the diary.

Lets finish with a bit of nutshellin' shall we?

The wealthy have more money than us, they vote and pester their elected officials more than us, and they provide more money to the political class than we do. So its no wonder the Govt represents their views more than ours.

And what are those views? Well they can be summed up as conservative economics. The Govt (which of course is OUR Govt) shouldn't help the middle and working classes with health care, retirement, jobs, or education, because if the wealthy don't need it, then surely the middle and working classes shouldn't need it, amirite?

Anyways, all of those lend further credence to an excellent post over a New Economic Perspectives by J.D. Alt titled "Forget the 1%"

http://neweconomicperspectives.org/...

The big difference between the mainstream progressive community and MMTers is that progressives falsely believe that We need the 1%'s money in order to afford to spend on progressive economic policies. This is The Big Lie that these same wealthy, who obviously do not care about us, have repeatedly sold to the middle and working classes. That Our Govt is powerless without higher taxes on the wealthy. The 1% have convinced the progressive community that deficits are bad and "debt" is scary, and thus progressive economic policy cant be implemented without higher taxes. And the 1% know this will never happen because they own the politicians, therefore nothing ever gets done.

MMTers understand that this is actually this opposite of reality, the 1% would not have all their US Dollars if not for the US Govt. The US Govt created all the laws that created the modern US Dollar out of nothing. The Govt has made all the laws and rules of the market in which the wealthy have gotten that way. The Govt protects the wealthy both physically and economically through our justice system and policemilitary. When the Govt spends dollars, they don't need to get those dollars from somewhere else first.

When an NFL stadium issues tickets, do they need to first receive those tickets in taxes before they can "spend them"? Of course not.

When you play monopoly, nobody fears running out of money because when the paper runs out you get to just right up new pieces of paper. This is no different than the real monopoly the US Govt has over Our national currency.

The 1% don't care about us, and we dont need their money to ensure our own middle class prosperity, so WHAT THE HELL ARE WE WAITING FOR???

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Comment Preferences

  •  Tip Jar (36+ / 0-)

    "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

    by Auburn Parks on Sat Apr 05, 2014 at 06:50:31 AM PDT

  •  We're just too easy. (8+ / 0-)

    We've been overtaken by a failure-oriented attitude.

    A crumb here and there, and that's fine.

    Everything is just too hard and impossible to do.  What with all the opposition BO has faced, we're lucky that he can still give speeches, let alone get some progressive policy established.

    Any objectors to the crumbs need to STFU; after all, unicorns don't exist.  And everything is a unicorn.

    The banks have a stranglehold on the political process. Mike Whitney

    by dfarrah on Sat Apr 05, 2014 at 07:06:25 AM PDT

  •  MMT People Need to Get Somebody Explaining (11+ / 0-)

    their theory who doesn't sound like Bernie Maddoff and Bill Maher disguised as used car salesmen.

    Humanity has had a large middle class exactly once, when the 1% were severely limited as to the income and wealth they could have.

    When that's called a big lie that's an extraordinary claim that requires extraordinary evidence to convince me I'm not at a Rand Paul rally or worse.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Sat Apr 05, 2014 at 07:20:01 AM PDT

    •  Nobody could honestly claim that if the share (6+ / 0-)

      of national income the 1% earn were less and therefore the middle class had more income than the economy would not be better. Its obvious.

      If national income is roughly $17T per year and the middle class got $15 T and the 1% only $2T, because of the differing propensities to consume of the two groups, obviously there would be more spending than if the middle class gets $10T and the 1% $7T.

      But this is completely beside the MMT point that you are steadfastly ignoring:

      1) The US Dollar comes from the US Govt not China and not the wealthy, we cant ever run out.

      2) Govt deficits = Non-Govt surpluses

      3) The only constraints on spending and deficits are REAL constraints, unemployment and inflation.

      Thats basically MMT in a nutshell. These are not theories. They are factual observations, if you think they are wrong, please say so but kindly don't forget to say why.

      "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

      by Auburn Parks on Sat Apr 05, 2014 at 07:27:05 AM PDT

      [ Parent ]

      •  Note that #3 should read: (3+ / 0-)
        Recommended by:
        allie4fairness, psyched, hbk

        "The only constraints on spending and deficits are REAL constraints: unemployment, inflation, and POLITICAL CONSTRAINTS"

        H.T. to Mark Lippman below for pointing that out.

        "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

        by Auburn Parks on Sat Apr 05, 2014 at 10:54:13 AM PDT

        [ Parent ]

    •  Um... (3+ / 0-)
      Recommended by:
      Auburn Parks, katiec, allie4fairness

      Not to sound uncool or anything, but what the heck is an "MMTer?"

  •  "you are what you perceive"- Lou Reed (0+ / 0-)

    uninterested in the colonials per se, Justice Roberts is the remote philosopher of "l'etat c'est moi." Aware there was talk of an old constitution, Roberts reports that McCain-Feingold had corrupted the natives, further rebellions and rumors of a constitution have been dealt with, case closed.  Opportunities attracting a group of investors a little north of 400, are expected to result in a board-sized confederation on the scale of the original 13 colonies, e.g. Pennsylvania's original owner Penn, the successor interest d/b/a Goldman Sachsylvania.  

  •  Tip'd/rec'd. The emphasis on income/wealth (11+ / 0-)

    inequality backfires in a way because it makes the masses feel small and powerless. And individually, they are.

    If you asked an average ordinary American which group gets more income, the bottom 90%, or the top 10%, how many would know the answer? People are literally being brainwashed to believe that the current situation is an existential fact and that they have no choice.

    Modern money has been around since the 1970s and still, no one knows what it is. It takes effort to maintain the level of ignorance that exists in this country. The odd brainiac who runs by while shouting "your money is created out of thin air" could be trying to help or could be trying to scare and demoralize people even more than are. 30 more years of that and people will ask to be paid in scrip like they were in the 1800s.

    About MMT, there's one more constraint. Political authorities. This was demonstrated to the American people on October 1, 2013, when the government was shut down because Congress failed to appropriate a penny to get the new fiscal year started. I mention this because many MMT'ers picture a money spigot that can be turned on full force at any time so that we'll be awash in it. They don't picture the opposite. It can be turned off to create all sorts of havoc.  We'll see what Senator Shutdown has in store for us this year. And of course no one pictures a siphon when the spigot is pouring out money. That's basically what happened in Ukraine for 20 years. It could happen here, too.

    With the leadership this country has, the media that talks 24/7 without saying anything, and the inert public, politics, in general, acts as a constraint.

    There is no existence without doubt.

    by Mark Lippman on Sat Apr 05, 2014 at 08:39:46 AM PDT

    •  You are absolutely right Mark, politicians doing (4+ / 0-)
      Recommended by:
      Mark Lippman, katiec, allie4fairness, hbk

      stupid things is always a real constraint. That should be in there as well. The thing about politicians is that We are responsible for them.

      If the public better understood the nature of our national public currency monopoly, then when politicians do stupid things like not raise the debt ceiling or shut down the Govt they would punish those politicians.

      But when people think debt and deficits are ruining a childrens future and burdening them with a lifetime of indebtedness to the Chinese, then maneuvers like the debt ceiling go from unthinkable to "taking a patriotic stand to save America from becoming Greece!"

      So you see the political constraint is really a knowledge constraint. Which is why I write my diaries. Far too many of my progressive brothers and sisters believe essentially the same exact story as the right wing tea party lunatics with respect to the national debt and deficits (albeit with much less histrionics usually).

      Progressive just want to raise taxes to fix the debt and deficit problem while Cons want to cut spending to fix the debt and deficit problem.

      There is no debt and deficit problem.

      If you want to raise taxes on the wealthy $100B then you better cut taxes for the middle class or increase spending by at least $100B otherwise the net result can end up being negative wrt the income and financial wealth of the private sector as a whole. The fundamental difference between micro and macro.

      "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

      by Auburn Parks on Sat Apr 05, 2014 at 09:13:27 AM PDT

      [ Parent ]

      •  I encourage you to keep at it. Liberals and (7+ / 0-)

        progressives have gotten mixed up on this issue. People got used to hearing about the $5.5 trillion in debt racked up during the GWB administration. The point got lost. Spending money dropping bombs and blowing up stuff in foreign countries does little for prosperity at home. The same money allocated to dams, bridges, renewable energy projects, etc. is an investment that keeps returning for generations.

        There is no existence without doubt.

        by Mark Lippman on Sat Apr 05, 2014 at 10:02:10 AM PDT

        [ Parent ]

  •  Great post! Keep up the good work. This is (3+ / 0-)
    Recommended by:
    Auburn Parks, paulex, Calgacus

    one of your best.

  •  Short video illustration of how our monetary (1+ / 0-)
    Recommended by:
    Auburn Parks

    system works.  It's too fast, but that's what pause buttons are for, I guess:

    http://heteconomist.com/...

  •  I'm actually surprised by this poll. I would have (3+ / 0-)
    Recommended by:
    allie4fairness, YucatanMan, Calgacus

    imagined more wealthy people would understand the need for a strong middle class.

    Guess not.  

    •  I would imagine that they care more about (3+ / 0-)
      Recommended by:
      unfangus, allie4fairness, Calgacus

      having leverage over employees with high unemployment than generating greater revenue with less profitability due to higher labor costs.

      "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

      by Auburn Parks on Sat Apr 05, 2014 at 10:57:50 AM PDT

      [ Parent ]

    •  "......in a full employment environment" should (1+ / 0-)
      Recommended by:
      katiec

      finish that last sentence in my original reply.

      "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

      by Auburn Parks on Sat Apr 05, 2014 at 10:58:57 AM PDT

      [ Parent ]

  •  Competition (3+ / 0-)
    Recommended by:
    katiec, Auburn Parks, Calgacus

    Having a strong middle class creates more general wealth and political moderation, but it does little for the super elite, who gathers all the money, regardless. The danger to the elites in having a strong middle class is they might become successful competitors in business and politics. The way they have it now, they are on top of the hill and income inequality is the mote filled with aligators to keep anyone else from driving their siege engines to the walls of their economic castles. Now, the SCOTUS has dug that mote deeper and added more aligators.
    If only we can find the equivalent analogy for the siege cannons, that made motes and castles obsolete.

    Living in the nightmare reality of working in the oilfields of South and West Texas.

    by Incarnate on Sat Apr 05, 2014 at 03:20:25 PM PDT

  •  HEY, the 99% is MORE than just the "Middle Class"! (1+ / 0-)
    Recommended by:
    Calgacus

    Those of us who are "below" (as in poorer than) the "Middle Class" might appreciate it if you didn't just keep referring to the conflict as being between the 1% and the "Middle Class".

    A rough count showed that you compared the 1% to the "Middle Class" ~SEVEN~ times WITHOUT mentioning the rest of us at all, and the ~ONLY~ time you mentioned the "Working Class" at all was when it came to discussing voting.

    Are those of us who are "below" the "Middle Class" only significant when it comes to voting to help out the "Middle Class"?

    •  While I can see your concern and I debated (1+ / 0-)
      Recommended by:
      Calgacus

      internally using the expanded phrase "middle and working classes" all 7 times. After my calculations I determined that it wasn't necessary and redundant to repeat that expanded phrase instead.

      I can see that I was wrong in my calculations. I promise to include both groups in the future. In fact, I am going to change them all right now.

      Full disclosure, I made $25,180 last year, probably right on the border for a single 31 year old?

      "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

      by Auburn Parks on Sat Apr 05, 2014 at 04:49:13 PM PDT

      [ Parent ]

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