Friday, May 26, 2017


The book that uncovered 'wealthfare'
"Their assault on military spending also included this quote from President Dwight Eisenhower: “Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed.” (In contrast, President Trump wants a new defense budget of $603 billion. That’s a year-over-year $54 billion increase, to be paid for by $54 billion in non-defense cuts.) 
In 23 scathing chapters, Zepezauer and Naiman listed and estimated the costs of everything they considered “wealthfare”—from preferential taxes on capital gains to agribusiness subsidies, from the 30-year savings-and-loan bailout to the Social Security tax break for high incomes. For good measure, they topped it off with a chapter titled “WHAT WE’VE LEFT OUT (untold billions every year).”
Specifics aside, the book’s real finding was the upward flow of income. After decades of shared prosperity in America, the sharing had ended and the prosperity was moving solely toward the already prosperous. “Wealthfare” presciently saw the rich getting richer, the middle class getting more middling, and income inequality rising to record highs."

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