Oligarchs demand their cut

Created
Sun, 05/02/2023 - 01:00
Updated
Sun, 05/02/2023 - 01:00
The world is not enough “[W]hat’s been driving income inequality in the United States – and around the world for years – is that the very rich are getting even richer, rather than the poor getting poorer,” Fatema Z. Sumar, executive director of the Center for International Development at Harvard’s Kennedy School, wrote in November. “In every major region of the world outside of Europe, extreme wealth is becoming concentrated in just a handful of people.” Sumar brought a visual aid (above). Rep. Katie Porter (D-Calif.) is famous for her visual aids. She brought one to her CNN appearance this week. Social Security adds nothing to the national debt, Porter’s white board insisted. There is, in fact, a more than $2.9 trillion surplus on the program’s books, she said. Why does Porter bring it up again? Because 70 percent of U.S. wealth is not enough for American oligarchs. On Thursday night, former vice president Mike Pence proposed privatizing Social Security. Just as George W. Bush tried before him. Pence supported that effort as a member of Congress. “I think the day could come when we could replace the New Deal with a better deal. Literally give younger Americans the ability to take a portion of their Social Security withholdings and put that into a private savings account,” Pence told the National Association of Wholesaler-Distributors. “It’s absolutely essential that we generate leadership in this country that will be straight with the American people, that will take us off this trajectory of…