America's Weird "We-Must-Be-Nice-to-Rich-People" Doctrine
So I was watching a CNN panel today and the subject up for debate was something along the lines of, "Is Obama shedding constituents? Critics say he's abandoned Wall Street."
My first reaction was, "Wait, critics are saying this? Are you sure that wasn't what his allies said?" But no -- I actually had to listen to a debate over whether Obama was making a huge political mistake by "abandoning" his bestest pals in the world at the megabanks.* You know, the guys whose greed and irresponsibility caused the worst financial collapse since the Great Depression.
(*Obama hasn't actually "abandoned" the banks in the least, but that's a story for another post.)
And then I thought, "Why the hell are we the only culture in the whole goldurned world where it's seen as a political risk to abandon the people who are responsible for causing widespread economic hardship?" And all this got me thinking about the super-weird "We-Must-Be-Nice-to-Rich-People" doctrine that has run through our national discourse since the 1980s.
You see, there was a time when American politicians could say things such as "It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes" (Andrew Jackson) and "Too much cannot be said against the men of wealth who sacrifice everything to getting wealth" (Teddy Roosevelt) and "We had to struggle with the old enemies of peace — business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering... They are unanimous in their hate for me — and I welcome their hatred" (FDR) and no one thought anything of it. Indeed, as Simon Johnson and James Kwak show in their excellent book 13 Bankers, hating on financial oligarchs is as American as hating on soccer, dating all the way back to Thomas Jefferson.
But starting in the 1980s, Ronald Reagan began popularizing Randroid mythology about how rich people were necessarily our betters because they were the only ones capable of "creating wealth" in the economy.
(For some reason, Big Ron forgot to mention they were also capable of creating multi-trillion-dollar housing bubbles, overpriced Pets.com stock certificates and made-to-fail synthetic interest rate swaps that bankrupt entire counties.)
And ever since then, every Democratic president and politician has had to reassure members of our elite media that he's just as capable of kissing rich-guy keisters as the Republicans. If you want a prime example of this dynamic at work, check out this Washington Post piece (via Harper's) that places giant red warning lights over Paul Krugman's views but that quotes some sleazeball Wall Streeter as though he were a perfectly objective analyst. First, his take on Krugman:
When you read Krugman on economics, you need to read him through a filter. He believes that the $787 billion government stimulus approved last year was not enough to really kick-start the economy and that much more is needed. You can correctly read many of his columns -- including this one -- as arguments for more taxpayer-funded stimulus. So just know that.
And now, the equity strategist:
I started with Peter Boockvar, equity strategist at Miller Tabak.
My e-mail was short: "Double-dip or slowdown?"
His response was equally abrupt: "Depends on who wins Nov. elections and what taxes get hiked in 2011."
The tax cuts enacted by President George W. Bush expire at the end of this year. President Obama has proposed extending those cuts -- except for families that make more than $250,000 a year. If Republicans win Congress in November, it's a good bet that the wealthiest Americans will keep their tax cuts. If the Democrats hold the Hill, it's unlikely.
"Our fragile economy CANNOT handle any tax hikes whatsoever, particularly on capital and the income of those who invest, save and spend the most," Boockvar wrote, meaning those American families that make more than $250,000 a year. The all-caps are his, but the feeling is shared by many.
Now, I'm of the general mindset that it's daft to raise taxes or cut spending in the middle of a severe economic downturn. But at the same time, note Boockvar's emphasis on whose taxes we should really be opposed to raising: "Those who invest, save and spend the most." In other words, people like Peter Boockvar.
I personally find it highly unlikely that if Mr. Boockvar's taxes were to rise back to the level of the 1990s that he'd suddenly lose all will to work and would instead spend his remaining days sipping Purple Drank outside his local 7-11. People like this are generally addicted to making money and they'd sell penny stocks and junk bonds to special needs children if they thought they could get away with it. What Mr. Boockvar would have written if he were being honest was, "I've already put off buying cocaine and pricey call girls enough during this recession and I CANNOT handle any tax hikes whatsoever."
And that's where we are. Despite the fact that our banking oligarchs destroyed the entire financial system and were only saved from homelessness by the United States government, they still must be treated as "special" people who are "the only ones" capable of creating new jobs for the lesser people. It'd be nice if this particularly insidious piece of mythology were to be sent to the ashcan of history, but methinks it's going to take some time...
By George I think you've got it! This is one of the best posts I've read in months. You've nailed it. Americans are suffering through a pathology of Reagonomics and conservatism. Seriously, I really believe these are pathological ailments. They really have too many Americans believing that if only the rich could just get a little more richer, then the overlords of America would be generous enough to pass on their largesse to the rest of us pions. Looking back over the past 30 years of Reaganomics I guess that's right; HELL NO IT ISN'T!
that we peons let them live.
we are here. Russia has nothing on us.
“The greatest evildoers are those who don’t remember because they have never given thought to the matter, and, without remembrance, nothing can hold them back,”
..they keep it up, the peons just might change their minds. It's probably healthy to stop and pause every now and then just to remember who really holds the power in this or any other society.
?
“The greatest evildoers are those who don’t remember because they have never given thought to the matter, and, without remembrance, nothing can hold them back,”
results and issue your credit score, of course.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Who else?
The trick is in remembering to remember that.
Hate to differ with you Paul, but working class Americans have been so thoroughly conned with the "Horatio Alger - Why anyone can become a millionaire here in America!" load of bullshit that they no longer have the stomach to fight for what's theirs. Do you know why the reichwingers REALLY hate immigrants? It's because they never bought into that "I could be a millionaire one day" bullshit. The little they've had, they've had to fight tooth and nail for and no doubt they'd do the same here in this country. Our corporate overlords can't have general strikes and such, now can they? No, REAL Americans know their place: At the bottom of the list, the end of the line, but just keep buyin' those lottery ticketsand dreaming the "American Dream".
If you have selfish, ignorant citizens, you're gonna get selfish, ignorant leaders.
George Carlin
Recently read a comment somewhere that most men would rather fantasize about becoming wealthy than imagine going broke.
But, what I'm saying has nothing to do with the "You, too can be a rich person" myth. I'm saying that the greatest portion of the power that the plutocrats, would-be over lords have is based on illusion. They have had to con (hypnotize) everybody else into ceeding power over to them. They also create the kinds of conditions that, when they get too greeedy or arrogant, leads to the breaking down of the illusions. Historically, those are the times that the despots end up with their heads affixed to spikes or hanging from street light posts.
For as much wealth as they control, the rest of us should remember how very few of them there are, and how inherently vulnerable they are to the rage of the vast number of those whom they abuse and prey upon.
Silly silly boy. Seriously challenge the psycopathetic rich and they will put the muscle to u. The Rich Man has the cop( they love the overtime) and his club. He also has the army with their rifle(drill drill drill-become a zombie and follow orders) and all the way up to the air force with their helecopter gunships. You beat the bastards by not playing their violence game. Go and sit down in Wall Street or in front of Jack Welch's house. After a while if there is enough of u the cops will sit with u. They cant put 100 million behind bars
Actually, the appropriate supply side characterization is "peed-ons".
Vote GOP and move forward to the 18th Century.
you are correct, sir!
“The greatest evildoers are those who don’t remember because they have never given thought to the matter, and, without remembrance, nothing can hold them back,”
So who does it "help" when one of these d-bags drops $45 million for a Picasso? Would that $45 million stimulate the economy more if it was being spent by thousands of 'Mericans on food, washing machines, and keeping the roof on their house? /rhet?
Do we let one person stimulate the economy, or do we let 1000?
We must cultivate the rich like hothouse orchids. They are very sensitive. We must not disrupt their environment with anything as unseemly as taxes. Keeping them fat and happy is good for everyone. A rising tide floats all yachts, I mean boats.
The rich would make a really tasty snack.
All that high end feed they live on. Ummm ummmmm.
Vote GOP and move forward to the 18th Century.
for your chloresterol level? Eating the rich only satisfies the taste buds and the cardiologists.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
not good to eat; too much cholesterol from all that fois gras!
“The greatest evildoers are those who don’t remember because they have never given thought to the matter, and, without remembrance, nothing can hold them back,”
glogrrl.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Yeah, but just think of all that sizzle on the grill. Yumm.
for roast pork belly from Jamie Oliver--the crackling is awesome! Have made it a couple of times, when my wife is away and not watching. There probably is a recipe for whole roast suck(l)ing bankster, good when you are doing a block party, but I have to consider my diet, dontya know.
http://www.bigoven.com/169984-Pork-Belly-Roas...
n/t
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
truly, there has been a resurgence of "free market" propaganda since the days of ronnie rayguns (who tripled the national debt) but before that was mccarthy, where ronnie learned his chops, and a hundred years ago there was the palmer raids, and the crushing of any real dissent.
the ruling class has been pumping out agit-prop for as long as this country has been in existence. we congratulate ourselves for outlawing slavery, and rightly so, but we have replaced it with wage-slavery.
Any arable soil left we can steal from the indigenous?
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
might not be a bad idea, more locally grown produce, more energy efficient; don't want to throw the baby out with the bathwater, mass production does produce benefits, just a question of benefits outweighing the negatives.
I've always wondered what this fascination with wealth and power people here have.
They look in awe at the CEO of their company or the big mansions in their town. As if any of that was even earned. Most of these people have never worked a real day in their lives. CEO's don't create anything, they didn't start the company they are "running" (into the ground, likely) and most folks with money have it because they were born into their own luck. Or they were friends with people that helped them out.
This automatic deference to someone just because of how much they own, is very odd.
I'm 44 and I have known exactly two people that became quite well off because of their own hard work and determination. And they are the only people I know with that kind of scratch I can stand to be around. All the others from company execs to ones I have met in other walks of life are mostly just uninspiring douchebags.
Probably the dumbest mofo's I've ever encountered were corporate CEO's.
If you have selfish, ignorant citizens, you're gonna get selfish, ignorant leaders.
George Carlin
and frequent?
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Close and frequent enough, Ricky
If you have selfish, ignorant citizens, you're gonna get selfish, ignorant leaders.
George Carlin
I have had up close and personal contact with a lot of those types. Christ on a pony I am shocked at how fucking stupid they are.
And I have seen first hand the emails they send out between themselves (memos, if you will) that are not for general consumption and not written by their assistants. The horrible spelling and grammar and use of the English language is unreal.
I mean, not just clipped and short. Just BAD. Like 2nd grade bad.
Redmond, Medina and Mercer Island. They can be pretty stupid about about their yards too. Don't even get me started on the shrew married to H. 'Starbucks' Schulz. She doesn't deserve to have nice things at all. I never worked for them, but I worked around them, and her asshole nature is legion among gardening types in Seattle.
Money can buy a lot of things, but manners and class aren't two of them.
me-oww!
When Mr. Boockvar says "our economy" he is not talking about the bottom 80% of wadge erners. He and all the Republicans in office are talking about the top of the heap horders. They really don't care about the unemployment rate except that it equates to less power to the workers and something to bash Democrats with. C/L and everyone needs to revisit the "Two Santa Clauses" way of governing the Republicans have been useing for about the last 40 or so years.
The "Bipartisan" Deficit Commission—co-chaired by a far right winger and a corporatist Dem—is salivating over the chance to take a juicy bite out of Social Security; of course they'll shed a few crocodile tears for the camera. Word is that the lame duck Congress will vote on the commission's proposal right after this November's election.
count on a long winter war in the streets ...
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
Isn't bipartisan
When Japanese kids throw Rocky Horror parties?
Diabolus est Deus Inversus
"All of the perplexities, confusion, and distress in America arises, not from the defects of the Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation." -- John Adams
"The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity. The financing of all public enterprise, and the conduct of the treasury will become matters of practical administration. Money will cease to be master and will then become servant of humanity." ~ Abraham Lincoln
"Great minds discuss ideas; average minds discuss events; small minds discuss people." ~ Eleanor Roosevelt
I would assume the wealthy hold a lot of their fortunes in equities, bonds, etc.... Well how the hell do these instruments hold any value if the whole house of cards tanks by starving the average consumer down to the point where they can't buy shit to keep the economic ship running? July 14th is coming up. Maybe they should take a strong take home message from Bastille Day.
In the not too distant past nice was not a doctrine. It was a rule.
Only those into S&M were exempt, and if you think about it, they followed it too.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
that my disgust and loathing for these people was not irrational, after all.
Paging Mademoiselle Guillotine, you are needed at headquarters,
paging Mlle Guillotine…
statusquObama, change you can only pretend in
and, frankly, French.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Bloodlust for mechanical head removal?
…Moi!?
Manual labor is fine for many things…
statusquObama, change you can only pretend in
You may just like something to watch while you knit.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
I'll knit a shroud for the decapitated oligarchs.
That will suit them.
statusquObama, change you can only pretend in
Decapitation is too quick. Kneecapping is both spiritually and financially more rewarding.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Why wrestle a lot of dead weight up the steps of the guillotine when you could just frog-march them to their just reward?
I have to go along with Alice on this particular point.
And we would want the lines to move briskly, no?
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
The American mythology is a twofold fantasy. The first is the myth of social mobility, i.e., that anyone with drive, determination and a modicum of intelligence can "make it", that is become rich. That is the Horatio Alger Myth. The other is that America is a middle class country. The truth is that most Americans are working class, dependent on receiving a paycheck from an employer for their livelihoods. The use of the term "working class" is practically unknown. However, there has been an assault on the American working class for a long time now, but because so many Americans, under the illusion that they are middle class, cannot see that it is they that are under attack by the upper class until it is too late. At that point, they are encouraged by the rightwing media to blame immigrants and racial minorities for their misfortunes. So far it has worked very effectively. I wonder if Americans will wake up from their American Dream as it becomes more and more of a nightmare.
We'll wake up alright Jack Canuckski , when it's too late .
Insanity , it is what it is , there is no understanding it .
A government for and (owned) by the wealthiest 2 % , Wall street and the corporations , isn't that what the founders said ? What can we do about it ? Nothing , not by coincidence they have managed to split this country in two , half the people in this country actually support the wrong side ( not that there is a good and "clean" party to support ) , only a unified people can raise hell and fight back . The way the Democrats refuse to fight back and counter the Repugs in spite of the Republican party giving them an endless amount of "ammunition " to use against them tells me that the Democrats are just wolves in sheep's clothing ... the Repug wolves not even bothering with a disguise . Other than Bernie Sanders and ( literally ) just a few others we don't have anyone fighting for us or defending us . Evil and the bad guys are winning , no doubt about it .
Insanity , it is what it is , there is no understanding it .
it's far worse than that.
We LOVE rich people. We suck up to them. And we suck up to corporations. And their money. And their lobbyists.
It gets worse.
We throw tax credits and tax cuts to them. They're already rich AND WE GIVE THEM MORE MONEY.
It's insane.
And if we DARE talk about taking a tax credit away from us??? OMG, the corporations threaten us by saying we're "against business" like the head of GE and the oil companies are doing right now.
WE'RE UNBELIEVABLY STUPID AND COWERING FOR NO DXN GOOD REASON.
Americans are suckers.
Mo Rage
the blog
A very informative/interesting "letter" submitted by economist James K. Galbraith to the Deficit Reduction Commission....which I recommend:
http://seminal.firedoglake.com/diary/58695
Funny thing is years ago I read a biography about Horatio Alger, and if I remember correctly he didn't start writing until he was discharged from a boy's school, where he taught, for no reason given but the writer speculating for fiddling about:
http://www.youtube.com/watch?v=hFhO7EU08Tg
Diabolus est Deus Inversus
1) The one thing we need to do is shorten our election campaign season and finally, once and for all DO CAMPAIGN FINANCE REFORM. We need to get the corporations, their lobbyists and all their money OUT OF OUR ELECTION CAMPAIGNS. But we won't do it. The British did this and live this way but we just aren't that bright;
2) the second thing we need to do is re-institute the "Fairness Doctrine" back into our media so people like Fox "News" and Rush "Porkulus" Limbaugh and O'Reilly and Hannity and Beck, et. al, can't just spew one ugly, untrue side of an issue, ad nauseum. Again, is it going to happen? No. But it's what should happen.
Americans are just too G-d stupid.
You know we are.
Mo Rage
the blog
The Fairness Doctrine must be reinstated, even if the people who benefit from its absence complain about it.
..if you had suggestions on exactly HOW we could go about it.
"Americans are just too G-d stupid" , which really sums up thee entire problem .
Insanity , it is what it is , there is no understanding it .
(3) paper ballots only
(4) Instant Run-Off voting
(5) Term Limits of 12 years across the boards, including judges (SCOTUS)
(6) If Senators will not "stand-up" filibuster, or honor 50 + VP majority, then let's do away with the Senate -- who needs an American "House of Lords"?
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
or somehow a development from the 80s: Get a grip.
This country is, has, and apparently will always be an oligarchy. How many of the founding fathers were poor?
Exactly.
CTHULHU 2012 "Why vote for a lesser evil?"
Isn't new , of course it isn't ,but they are no longer satisfied with the status quo , we the people and even this pseudo Democracy are under an outright attack from within and it did pretty much originate with Reagan . Read Karl Marx and what he wrote about Capitalism , he was right , we are seeing proof of that , now they begin "cannibalizing" us and each other in order to keep expanding and make more $.
Insanity , it is what it is , there is no understanding it .
David Harvey (Marxist) Sociologist
here, an excellent talk. From Naked Capitalism:
Harvey: …it is the excessive power of capital, and in particular the excessive power of finance capital that is the root of the problem…
statusquObama, change you can only pretend in
Nixon effectively ended the Bretton Woods agreements and triggered the speculative economies that followed. Reaganomics took it further and yes there was a real change in mentality. We may have always been an oligarchy, but Reagan sold working class people the notion that kissing rich asses was in everyones best interest. The media has supported that ever since. It's stuck in our psyche.
since day one of the country's founding this has been an issue--with some proclaiming a need to cater to the rich (see, hamilton).
and the need to convince the general population that we must, indeed, be nice to the rich is a meme that is well-funded and did not come about by accident or some natural process. the larger population, i would argue, does not have a natural proclivity to cater to the rich. but, instead, the people have to be convinced and tricked into a perpetual bending of the rules to favor the rich--facilitated through the msm, corporate-messaging and political allies reliant on campaign cash--through the foggy promise that, somehow, favoring the wealthy helps everyone.
after surfing on Youtube. Funny how this post fits it. Certainly thought provoking:
History of Money
http://www.youtube.com/watch?v=D0IJCGuNtqk
It's long and has like 5 parts.
Once again you folks at C&L run the risk of offending the rich! Stop it, dammit! What if they decide not to trickle on us because of your ingratitude?! What then?!
Please, Mr and MS Rich Peoples! Pleeeease don't stop tricklin!
guillotine rather than gun sales get the attention of the idle rich?
yes, yes, yes...where do I go to get my guillotine?
is looking for venture capitalists ...
There is a small but rapidly growing market for trailer-able pop-up guillotines -- easy to transport virtually anywhere under concealment of canvas, yet ready for yeoman-like duty within minutes. Swing out the out-riggers and anchor them, winch out and up the hinged guillotine head, and pin into place. The canvas cover snaps into a solid wire frame, suitable for use as a catcher basket. Solid built-to-last construction of aluminum and stainless steel, this beauty will pay for itself in only one busy season.
We also expect a large export market for this item. Examine the rear cover of the prospectus for projected market growth, including a planned flat-tiered dealer network.
Further details to follow ...
;^)
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
I say if you meet a rich person (not just rich but wealthy) I say you should spit on them. Just to give them a sense of what we feel we are getting from them everyday. And spitting is the nice way to do it, the real way would rhyme with spit...
Yeah, don't you see how those TAX CUTS totally helped our economy?
See all the investment and jobs that INVESTOR CLASS created?
It's so good we gave them those tax cuts. If not, our economy would have almost COLLAPSED, we'd be in RECESSION and there'd be HIGH UNEMPLOYMENT...
So big THANKS, Investor Class!! You took your tax cuts and made us all prosperous!!
Oh, wait...
Yes boss, I've got my mind right.
Excellent post, you nailed it. I propose a new motto for Dems and all those not rich: "Fuck the rich." Put it on T-shirts, bumper stickers, screen savers, billboards, at the bottom of TV screens, internet banners, coffee cups, vacant storefronts, license plates, holograms, lapel pins, inside lockers. Find a teabagger convention and slap a bumper sticker on every car and bus while they're busy teabagging. Some of them may even figure out that kissing the ass of the rich won't get them shit. Really America we don't have to suck up to greedy self-centered shits with the socialization level of a 3 year old.
If you believe that the Democrats are any different then Republicans when it comes to answering to the rich, you are sadly, sadly mistaken.
The 1980s was also when I began hearing people, supposedly adult people, seriously say that you could tell whether or not someone would be competent at anything, no matter the subject or profession, by how much money they had. In other words, suddenly everyone was expected to be a "good businessman" first and then if they could show that they were good at accumulating money, then they could be considered potentially competent at other things. So paleontologists and artists were suddenly also supposed to be entrepreneurs at the same time. Unfortunately, that attitude hasn't gone away after three decades, has only gotten more ingrained. But as you say in the article, it doesn't pre-date the 1980s (on a mass scale, at least) so it hasn't "always been this way," as so many Americans seem to think nowadays.
You have to admire the rich for their never-ending campaign to make the "lesser people" take their side, no matter what, even to the point of voting against their own best interests.
The rich have managed to build up an amazing PR campaign to the point where people actually believe the "benevolent rich" ideal.
They used to be taxed 80-90%, and they've seen those numbers fall steadily. So now we have huge amounts of concentrated wealth that used to contribute to the public welfare, and now it goes off-shore. And we don't DARE tax them any more, if we do, they'll just have to fire more poor people, and move more jobs to other countries with easier rules. They hold all the cards.
If you make them richer you are just sucking money out of the economy. Demand for goods and services creates jobs. Rich people can already buy everything they want so making them richer does not increase demand for goods and services. Making the poor and middle class richer however does increase demand for goods and services which results in more employment. Clinton proved that.
they should buy a 400$ T-Shirts :))
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