Alas, the poor yuppie
Recently, Mutual of Senegal asked me -- in a btw-type comment -- to mugshot Craig Paul Roberts, the once-renowned Reagan-era voodoo priest, now rabidly anti-wall Street.
I hesitated, so long as his rants were aimed at the gunplay of corporate empire, American style. But suddenly I find he has obliged me with lovely material -- an aria on the dolorous days our upper middle income class now passes through, meaning folks like these:
"a husband and wife who are associates at major law firms, each of whom works 60 hour weeks and has no job security [earning] $125,000 each."Herr Roberts' beef? Obama has these orphans of the casino storm in his tax crosshairs.
"The upper middle class with $250,000 gross incomes are major losers of the financial collapse. Many of the people in this income class are leveraged to the hilt in order to maintain appearances and can be swept away as easily as the very poor. But those who were frugal and invested for their future have lost 50 per cent of their savings. These wiped out people are the ones who will bear the brunt of Obama’s tax increase."The O Sole Mio impersonation by Billy Babbit, Jr. here, almost becomes openly self-satirical.
"If the tax rate on a multi-million dollar annual income goes up by 5 percentage points, the cutbacks won’t really affect the lifestyle. But for the $250,000 gross income group, it means no prospect of private schools and Ivy League education for the children, who will be attending state colleges with the rest of the non-rich."To be strictly fair, Roberts is a "free" labor man to the bone.
"Historically, the definition of a free person is a person who owns his own labor. Serfs were not free, because they owed their feudal lords, the government of that time, a maximum of one-third of their labor. Nineteenth century slaves were not free, because their owners could expropriate 50 per cent of their labor -- Today, no American is a free person. The lowest tax rate, not counting state income, property tax and sales tax, is 15 per cent Social Security tax and 15 per cent federal income tax.Implied conclusion: 50% -- Swedish level -- tax hauls out of "earned income" are the moral equivalent of chattel slavery
The “free American” starts off with a 30 per cent tax rate, the position of a medieval serf."
I've never cottoned to Alex's bloc of rights, frights, lites, mites, and botchky-ites over there at Counterpunch, and I've often had Mr PCR here uppermost in my mind. A broad "frente" with this jamoke is foolhardy opportunism. Ralph Nader represents the better angle of that much put-upon much asked-of class, our ultra-meritoid hautes-professionalistes.
You ask me, taxing the $250k class sounds perfect. They love their job site hairshirt, so why not a second taxman hair shirt -- layering is often fashionable.
Boo-hooing for our honest meritoidal lunatics is a silly waste of personal salt water.