Basics: The Super Rich and the Welfare Class Form a Natural Coalition
If I had lost a billion dollars in the stock crash I would have dropped maybe forty percent of my total worth. I would still have one and a half billion to comfort me.
At the other extreme if you’re living largely on welfare the stock market means nothing to you and a new depression just means lots more voters are joining you to increase your benefits.
But if you lost a million, you are in serious trouble. That puts you in the category of people who have a family to support and who have done well. You have a lot of commitments, and every dime of that million comes out of money you depended on when made those commitments.
The superrich and the welfare class – which is NOT the working class in our age – form a natural coalition. Teddy Kennedy and Bill Gates and permanent welfare recipients form a natural alliance. The welfare class benefits from a huge tax and spend apparatus and the superrich have the power in such a system.
And if anybody points this obvious reality out, you knock them down by calling them “simplistic.”
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