Our Class War Rages On
Super-rich are just being more stealthy about it after election: Paul Krugman
By Mark Russell, Newser Staff
Posted Nov 30, 2012 1:54 PM CST
"Bipartisan" is just the uber-rich's way of getting what they want, warns Paul Krugman in his latest column.   (Shutterstock)

(Newser) – The election is over, but that doesn't mean the class war between the super-rich and the not-rich is at an end. Having lost at the ballot box, now the plutocracy is trying to use "stealth" to get its way, using the cover of bipartisan, "sensible responses to the budget deficit," writes Paul Krugman in the New York Times. Case in point: the call to raise the retirement and Medicare eligibility age, supposedly because life expectancy is going up. But in fact life expectancy is up the most among the rich. "Why should janitors have to retire later because lawyers are living longer?"

Limiting deductions instead of raising tax rates is also a trick, says Krugman: No amount of deduction-limiting will bring in as much money as "letting the relevant parts of the Bush-era tax cuts expire." Even Bowles-Simpson, which Krugman does not like much, started with the assumption that the high-end Bush tax cuts would expire. "It’s an uncomfortable but real truth that we are not all in this together," he writes. The rich are "trying to use the pretense of concern about the deficit to snatch victory from the jaws of defeat. Let’s not let them pull it off." Click for Krugman's full column.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Our Class War Rages On is...
Show results without voting
You Might Like
Showing 3 of 95 comments
Dec 2, 2012 4:58 PM CST
From the source article: "Before I get there, a word about the actual vote. Obviously, narrow economic self-interest doesn’t explain everything about how individuals, or even broad demographic groups, cast their ballots. Asian-Americans are a relatively affluent group, yet they went for President Obama by 3 to 1. Whites in Mississippi, on the other hand, aren’t especially well off, yet Mr. Obama received only 10 percent of their votes." Now, to me the political tragedy of our times is the wedge that has been driven between poor white southerners and African Americans, whose economic interests are, for the most part, the same. Howard Dean, in his brief quest for the Presidency sought to drive this point home and was castigated for it by Al Sharpton who was (understandably so, may I hasten to add) all upset because of a reference to the "rebel flag".
Nov 30, 2012 10:32 PM CST
Why are we still going around is circles about this issue? The rich Republicans are totally full of shit about caring about anyone but THEMSELVES! We must keep voting them out of office/power until they are permanently in the minority and we don't have to pay attention to them anymore.
Nov 30, 2012 7:41 PM CST
If rich folks want to leave the USA, they have 2 choices; 1. Renounce their USA citizenship and risk never being able to come back. They will have to apply for ITIN cards if they have monetary interests in the USA. They still have to fill out USA income tax returns. http://www.immihelp.com/newcomer/itin.html 2. Remain US citizens but they will still have to file income tax returns. They will still be subject to higher tax rates as well. There are millions of Americans who will still be "job creators." New businesses and corporations will emerge & I'll still buy American goods.