Ian Welsh has a principal post at Crooks & Liars:
It’s really, really elementary. The rich crashed the world economy. They were bailed out, by their wealth having almost entirely recovered and corporate profits likewise obtain pretty much recovered. Now, at the G20, the world’s leaders are discussing to what extent to make regular people pay for the rich’s follies.
The creation’s developed countries have built extensive public health systems, promised citizens a paycheck concerning life and erected a welter of protections around some industries and types of jobs. Now their leaders are conferring outer a singular dilemma: how to take some of it back without undermining the economies they are trying to sustain.
You notice that ~ or other, no one is talking about going back to 1950′s levels of proceeding taxation, with a top rate around 90%. No, what they’re talking approximately is making the middle class and the poor pay for the sins of the vivid.
The key thing here to understand is this: there is nay crisis for the rich or corporations anymore, therefore as far to the degree that they are concerned, there is no crisis.
Dick Durbin once uttered, . . .
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