Note: Originally posted in my FB account on October 10, 2011
The past three weeks America saw the viral spread of Occupy [American city] from New York to Seattle. People are just fed up with Wall Street’s corporate greed and the Washington politicians under their pockets.
People are tired and are complaining about this spin from the economic conservatives, mostly from Fox News: “If you’re a working guy who wants affordable health care and a pension, you’re greedy. If you’re a chief executive who’s paid hundreds of times more than the lowest-paid guy in your company, you’re a success.”
With the help of the Tea Party, these conservatives won lots of posts from governors to congressmen in the last mid-term election. They did not waste time to implement their agenda: across the country, governors stripped workers of their bargaining rights, teachers, firefighters and policemen are laid off in the thousands and the country almost default on its financial obligations, costing it the top rating from Standard and Poor’s.
These economic conservatives believe that a pure free market capitalism is the answer to our problems, with the belief that Wall Street corporate success will “trickle down” to Main Street. This is the foundation of Reaganomics. It’s true that a pure free market capitalism is effective because “the market is efficient.” We could have let those big banks fail and new ones will rise after them. We could allow Detroit to go bankrupt and new car companies somewhere in America will take its place. Billions of taxpayers money will be saved. Unfortunately, the human cost behind the statistics, the millions who lost their jobs, is just staggering. We are a nation that protect the interest of not just the capitalists but, most importantly, the ordinary people and families in our communities.
Reaganomics is a failure. Since 1985, while Reagan was in office, up to the present, an obvious divergence in incomes between the rich and the middle class gets worse every year. The middle class gets squeezed as more of them join the poor. So where’s the trickle-down effect? Today, Wall Street is sitting on trillions of dollars in cash while millions of ordinary people have no jobs. Was Reagan (and the Reagan Republican devotees after he left office, including most of the current presidential candidates on the Republican Party today) too naive to believe that the corporate fat guys will share their bounty to the ordinary people on the streets in terms of jobs and benefits?
Wake up, America! A strong middle class is a guarantee for a truly democratic America. If we allow it to shrink further, then this great democratic country will become a not-so-great plutocracy. Possibly, it already is. People, read the signs of the time.