ATS Special: Capitalism Endgame
Email Newsletter Special Feature
April 30, 2007
By ATS Member "polanksi"
"The American lifestyle is non-negotiable" Pres. Bush I & II
Are the power elite 'conspiring' to promote their good fortune at the expense of the working class? At first glimpse that statement appears
fraught with 'wild eyed conspiracy theory'. There would be many who would say that it would involve too many people and thus highly unlikely. But
how many people would have to know? What if those in power benefited from the policies and laws made to favor them, but were not aware that there was
a very specific conspiracy to achieve total economic pre-eminence of the governing elite. It would be difficult to prove the existence of such a
cabal, they would cover their tracks. They would practice to deceive, prevaricate, bully, lie and use the 'system' to protect and preserve their
'rights.' They would hope to co-opt the middle class by trying to convince them it is in their best interest as well. The evidence would be
'erased', made to disappear and it would indeed be difficult to find any hard proof. But there is a legal precedence in such cases when hard
evidence is lacking and that is a preponderance of evidence. When one sees example after example of how the game has been rigged to benefit the few
at the expense of the many one must wonder. This edifice that provides and protects the elite certainly did not arise overnight. It has
incrementally been built up over the years. Like the formation of a pearl it has slowly been added to and like that pearl it is now ripe to be
harvested and worn proudly and legitimately by the best and the brightest.
One layer of this anti-working class edifice is what is called universal default. It allows credit card companies to raise your interest rate
if you pay some other loan late. Of course you should be punished if you are late with a payment, but what does being late with a car payment have to
do with your credit card? Without ever missing a payment or going over your limit on your credit card your interest rate can be increased to the
limit. Clearly you have proved to be a greater risk that expected. You are a scofflaw and should be penalized or so someone thinks. It's not
really logic. Logic would dictate that you may have mistakenly missed a payment deadline or perhaps you did not have enough money to pay all your
bills that were due. You did, however, pay your credit card bill and yet your rate is going up. This policy targets the blue collar workers and
benefits the financial institutions. It defies logic but perhaps there is an underlying coherence. It redistributes money up from those who can
least afford it to those who least need it.
Next we have the newly renovated bankruptcy laws. They have been
revised to make sure that those with rather serious money problems are not let off the hook. The new bankruptcy laws have been designed to make it
more difficult for the consumer to get a so called 'fresh' start. In short filing a Chapter 7 bankruptcy allows many people to pay off a portion of
their debt and cancel the rest. There are strict rules that apply regarding assets that qualify for liquidation, but the filer normally is not allowed
to keep much beyond necessities. It has now been made much more difficult and expensive to declare bankruptcy. Lawyers are being held to a higher
standard as well, thus there is less gray area involved in the proceedings. Bottom line is it is more difficult for the little guy to get out from
under their debt. It is still relatively easy for Corporations to go bankrupt and eliminate their debt, however. Although there appears to be a
pattern here it could still be just a coincidence.
Next let's look at tax cuts. As
reported in the New York Times the wealthy benefited most from the Bush administration tax cuts. The average tax reduction for a mid range income,
$56,200 was $1,180. This is nothing to scoff at but it is very misleading. Those families with incomes in the $1.25 million range received tax cuts
of $58,000. In effect the tax cut was regressive those at the middle received a smaller percentage tax break. As stated in the article,
"tax
cuts reduced rates for people at every level; they offered the biggest benefits by far to people at the top." There seems to be mounting evidence
that there is some collusion or conspiracy to enrich the wealthy at the expense of the struggling middle, but clearly more evidence would be needed to
prove the case.
There has been much said about the widening gap between the wealthiest Americans and their poorer counterparts. Not too long ago the United
States replaced France as the industrial country with the widest income gap and recently that gap has continued to grow. As Janine Jackson says in
her article
Good News! The Rich Get Richer "Wages and income for average workers, adjusted for
inflation, are down in recent years, -- The Poverty rate is rising, as is the number of people in debt." That this is taking place at the same
time that a seeming upsurge in the economy is, is rather vexing. Perhaps the 'trickle down' effect has just not had time to run its course.
A 2005 article by Abid Aslam gives information about the
widening compensation gap between the highest paid CEO's and the average worker. It points out that not only do the best paid employees get paid
significantly more but, the percent of their raises is higher as well, thus constantly increasing the pay differential. In fact, the rich do continue
to get richer and the middle and poor keep falling farther behind.
"An analysis of securities filings showed that CEO salaries rose 12 percent in 2004 compared with average raises of 3.6 percent for rank-and-file
workers, further widening the world's largest gaps between executive and labor pay."
Surely if this is not by design it would be rectified, but it has not been and the CEO's have circled the wagons to protect their right to exorbitant
wages.
Another thread to this web of complicity is war, war in general and The War on Terror specifically. War calls on the middle and lower classes
to make the biggest sacrifices. The corporate leaders and politicians plan and execute wars and benefit greatly from the sale of war goods and owning
stock in those corporations, but the middle and lower classes are called on to make the supreme sacrifice in the name of patriotism. While paying lip
service to the soldiers in the field and decorating the 'heroes' who protect the motherland with the other hand they are busy trying to reduce
medical benefits, save money on armor plating and failing to maintain hospitals in good condition. The actions of our politicians speak volumes. Be
good patriots and don't ask questions. Contracting for armor plating is a prime example. A pentagon report said that as much as 80% of the
fatalities to our troops could have been avoided with adequate body armor. Are they thinning the herd? With the high birth rates of minorities and
the poor it would indeed take a long war to effectively offset those statistics.
President Bush Owes Troops an Apology
Last summer the government allowed United Airlines to drop their pension
plan. This is a benefit derived from collective bargaining and would certainly seem to have the force of law, but the US government allowed
United to drop the pension plan. They were let of the hook, would the government be as understanding if it were you or I who had defaulted on a
contractual agreement?
The pension was taken over by the
Pension Benefit Guaranty
Corporation. There are some important considerations when the PBGC takes over a corporation's pension plan. They do not cover health
benefits, lump-sum death benefits, or disability benefits claimed after the PBGC takeover. Those are some major concerns and would especially burden
those who didn't have the savings or resources to pay for those necessities. It appears that those provisions would place an inordinate burden on
the middle class or poorer workers. Is there a well established bias favoring the wealthier over the less well off?
This is by no means a comprehensive list of the numerous authorized slights to the middle/working class. Can this 'agenda' be passed off as a mere
coincidence? If a class is systematically favored or legally diminished as the case with the middle and lower classes have been can it just be
happenstance? How this has come to be accepted is quite a different topic and not the point of this discourse but it again brings up the systematic
use of the legal system. One part of that edifice is deregulation of the media that has significantly narrowed the scope of opinions expressed in the
mainstream media. Has the majority been lulled into a false sense of security? Have we gradually been desensitized to the removal of our former
rights? Have we somehow accepted the fact that the wealthy should rule and that depending on their benevolence is the proper order? Ladies and
gentlemen of the jury is this 'system' that has built up over the years just a random collection of laws, regulations, and customs that just happen
to favor the wealthiest at the expense of the rest. Could it just have happened coincidentally over the years? I would submit not. There is a plan.
There is a preponderance of evidence that supports the existence of such a plan. There is puppet master(s) and because the wealthy and powerful
benefit they are willing to go along with the dismantling of our democratic system without a conscious understanding of who the 'wizard' behind the
curtain is or of his (their) ultimate goal. It is not a coincidence!
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