Billionaire Bombing – OpEd – Eurasia Review


America’s richest person tweeted last week that Democrats have “become the party of division and hate so I can’t support them anymore and I will vote Republican.”

Hello? Democrats are the party of division and hatred? What planet did Elon live on?

Meanwhile, America’s second richest person (Jeff Bezos) tweeted that the Democrats’ proposed tax hikes on the rich won’t reduce inflation and their proposed spending would make it worse (he’s wrong , and I will explain why in another article).

In addition to last week’s billionaire tweetstorm, it was reported that Oracle’s Larry Ellison (#7 on Forbes’ list of the richest Americans) in November 2020 joined Sean Hannity, Lindsay Graham and Trump’s lawyer to discuss strategies for challenging the results of the presidential election.

Oh, and Ellison dumped some $25 million into a Super PAC supporting South Carolina Republican Senator Tim Scott, a Trump endorser.

As I noted last week, another billionaire, Peter Thiel, gave at least as much to Trump-backed Republicans in the Senate primaries.

Not to mention the irreducible Trump Charles Koch (#16 on the Forbes list), Rupert Murdoch (#31) and Carl Icahn (#43).

This is the same crew, not by chance, who fought unions and flooded Congress and state houses with money to support Trump deniers, prevent tax hikes on themselves and kill the agenda of Biden and the Democrats (more on that in a moment).

This billionaire bombardment gives Biden and the Democrats an opportunity to tell America which side they are on and which side they are not — in effect, declaring class war on class warriors.

Will they take it?

Never in more than a century has such wealth of the nation been concentrated at the top – in the richest tenth of one percent of the richest tenth of one percent. Never in seventy years have companies been so cash-rich, despite the recent stock market sell-off. Since the 1890s, CEOs have not earned as much salary as compared to average workers. Since the inception of the income tax, the super-wealthy have not paid as low a rate as they do today compared to the tax rate paid by most other Americans.

Isn’t it time for Biden and the Democrats to tell America?

Wealth is not a zero-sum game in which more up necessarily means less down, but wealth is about power – and power is a zero-sum game.

Many of America’s richest and most powerful are now gathering for their annual gabfest in Davos, Switzerland, just as the annual gathering of the American Right (CPAC) is coming to an end in Budapest, Hungary. The two conferences begin to converge. Though CEOs and hedge fund managers in Davos claim to worry about America’s record inequality and tout “corporate social responsibility,” their own corporate political action committees are doing all they can to stifle tax increases on them and to prevent additional spending on health care, child care and other needs of average workers.

Meanwhile, even Republicans’ billionaire backers can’t hide the total absence of a Republican program to help average workers.

The reason the Democrats couldn’t get their program through the Senate and raise taxes on billionaires or big corporations to pay for it — or even repeal Trump’s tax cuts that have mostly gone to the top — it’s because Democrats only have 48 votes in the Senate (everything fifty Senate Republicans are against the measures, and the other two Senate Democrats are the main recipients of campaign donations from corporations and the wealthy).

Isn’t it time for Biden and the Democrats to tell the American people and offer them a clear choice for the upcoming midterms and beyond?

The billionaires are organizing a class war. Republican lawmakers are staging a culture war to distract from it.

On October 31, 1936, in New York’s Madison Square Garden, Franklin D. Roosevelt, facing a murderous bid for re-election, set the stakes as they are today. He explained that America was struggling against “commercial and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering” and that a wealthy elite “had begun to consider the government of the United States as a mere appendage of their own affairs”.

He continued, “We now know that government by organized money is just as dangerous as government by the organized mob.”

Then FDR said, in words similar to what Joe Biden and the Democrats should use against the billionaires and fanatics who are now pitted against them:

Never before in all of our history have these forces been so united against one candidate as they are today. They are unanimous in their hatred for me – and I salute their hatred.

Isn’t it time Biden and the Democrats spoke out clearly against the billionaires who abuse their wealth and power by suppressing the wages of average workers and flooding our democracy with their money? What about the culture warriors who cover them? Isn’t it time for Biden and the Democrats to explain why they failed to get their agenda through Congress?

Biden and the Democrats should tell Americans whose side they are on — and ask America to choose sides.

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