G20 Confers On How To Make You Pay For The Blunders Of The Rich

Protesters riot yesterday in Toronto at the G20. It's really, really simple. The rich crashed the world economy. They were bailed out, with the

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Protesters riot yesterday in Toronto at the G20.

It's really, really simple. The rich crashed the world economy. They were bailed out, with their wealth having almost entirely recovered and corporate profits likewise have pretty much recovered. Now, at the G20, the world's leaders are discussing how to make regular people pay for the rich's follies.

The world's developed countries have built extensive public health systems, promised citizens a paycheck for life and erected a welter of protections around some industries and types of jobs. Now their leaders are conferring over a singular dilemma: how to take some of it back without undermining the economies they are trying to sustain.

You notice that somehow, no one is talking about going back to 1950's levels of progressive taxation, with a top rate around 90%. No, what they're talking about is making the middle class and the poor pay for the sins of the rich.

The key thing here to understand is this: there is no crisis for the rich or corporations anymore, therefore as far as they are concerned, there is no crisis.

Dick Durbin once said, ""And the banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created -- are still the most powerful lobby on Capitol Hill. And they frankly own the place."

It's not just the banks, of course, they are just one of the apex predators of the current court system, along with the Pentagon, pharma and various other predators. The systems is simple enough — they take care of Congress, staffers and everyone else who matters, and those people take care of them. Even if a congress member is not reelected, if they went down doing the bidding of monied interests, they are taken care of. If they don't do the bidding of their masters, on the other hand, their post-Congress career will be much less pleasant.

At the G20, today, what is being discussed is how to take away what's left of your economic future. Ordinary Americans didn't see a pay raise in the last decade. Not only won't they see one this decade, they'll take a loss, and now even the European experiment in taking care of the population is on the chopping board.

This is your future being decided, and no, they don't think you have a say in it.

About Ian Welsh

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