Mr. Buffett said, “but it’s my class, the rich class, that’s making war, and we’re winning.”
This conversation keeps coming back to mind because, in the last couple of weeks, I have been on one television panel after another, talking about how questionable it is that the country is enjoying what economists call full employment while we are still running a federal budget deficit of roughly $434 billion for fiscal 2006 (not counting off-budget items like Social Security) and economists forecast that it will grow to $567 billion in fiscal 2010.
When I mentioned on these panels that we should consider all options for closing this gap — including raising taxes, particularly for the wealthiest people — I was met with several arguments by people who call themselves conservatives and free marketers.
One argument was that the mere suggestion constituted class warfare. I think Mr. Buffett answered that one.
Another argument was that raising taxes actually lowers total revenue, and that only cutting taxes stimulates federal revenue. This is supposedly proved by the history of tax receipts since my friend George W. Bush became president.
In fact, the federal government collected roughly $1.004 trillion in income taxes from individuals in fiscal 2000, the last full year of President Bill Clinton’s merry rule. It fell to a low of $794 billion in 2003 after Mr. Bush’s tax cuts (but not, you understand, because of them, his supporters like to say). Only by the end of fiscal 2006 did income tax revenue surpass the $1 trillion level again.
http://www.nytimes.com/2006/11/26/business/yourmoney/26every.html?ei=5090&en=0cf877b05b918674&ex=1322197200&partner=rssuserland&emc=rss&pagewanted=printHere's What Class Warfare Looks Like
Among the most darkly grotesquely absurdities of contemporary political life is that class warfare is used to describe marginal tax increases for rich people and calls for mild redistribution to the working class. Here's what it actually means. These are janitors in Houston who make $20 a day with no health insurance. Their labor is physical, the chance for workplace injuries massive, and the desire for better conditions natural. So they struck. And the police came in with horses.
For those curious, horses are used for two reasons: The first is the enhanced visibility their height offers police. The second is because they're animals, not machines. Implicit in the use of the horse is that it is not fully in the officers control and could, at any time, take one errant step and crush you. They terrify in a way motorcycles or, say, stilts, don't. True to form, the horses trampled scores of the strikers, injuring a handful, including an 83-year-old man.
Video @
http://www.prospect.org/csnc/blogs/ezraklein_archive?month=11&year=2006&base_name=heres_what_class_warfare_looksAnyone here who is of means but does not succumb to elists ideals? Sure. And perhaps some who only succumb to a few of them. That's where the discussion gets interesting...
So any of you care to join in on a discussion of the relevance and meaning of class warfare and what ideals are elitist and what are not?
For those who suggest there is no class warfare that it is somehow a relic of a bygone era rest assured it is being waged upon all of us whtether we choose to acknowledge this or not.