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January 12, 2012Time to Ax Public Programs That Don't Yield Results (Start with Head Start)Joel Klein, via a kind reader's email: Barack Obama has been accused of "class warfare" because he favors closing several tax loopholes -- socialism for the wealthy -- as part of the deficit-cutting process. This is a curious charge: class warfare seems to be a one-way street in American politics. Over the past 30 years, the superwealthy have waged far more effective warfare against the poor and the middle class, via their tools in Congress, than the other way around. How else can one explain the fact that the oil companies, despite elephantine profits, are still subsidized by the federal government? How else can one explain the fact that hedge-fund managers pay lower tax rates than their file clerks? Or that farm subsidies originally meant for family farmers go to huge corporations that hardly need the help?Posted by Jim Zellmer at January 12, 2012 11:55 AM Subscribe to this site via RSS/Atom: Newsletter signup | Send us your ideas Comments
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