Report: The Road To Zero Wealth

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Above Photo: From inequality.org

New report, The Road to Zero Wealth: How the Racial Wealth Divide is Hollowing Out America’s Middle Class

  • This post is regurgitating DLC and 3rd Way talking points that the deficit is the nation’s #1 priority and to combat it is to destroy what is left of programs that truly benefit the middle class: Social Security, Medicare and the mortgage interest deduction.

  • DHFabian

    By 2043, if we’re fortunate, we will have moved beyond the stunningly simplistic idea that every issue is “all about race,” or effects “especially people of color.” Liberals might overcome their aversion to white people in poverty, and consider that America’s crises are rooted in economic/class issues. (Granted, middle classers might not want that discussion.) US capitalism has always been deeply flawed, and was profoundly worsened by political powers since the 1980s. It is now an oppressive, destructive relic of the past that is pushing the US itself to economic collapse.

    Our class war is also not about race. People of color are disproportionately poor (though poverty rates by each color differ), and the great majority of US poor are white. Race has served powerfully to distract public attention from the economic realities of capitalism’s failure.

  • DHFabian

    Correct. It’s pretty complex, however, and Democrats been amendable to the destruction of the “social safety net” since the Reagan Dems of the 1980s. The general public appear to be surprisingly uninformed about these issues, and don’t realize how tightly the safety net programs are intertwined. That safety net in whole has been in the process of being phased out for years, one policy, one program, at a time, moving toward the goal of ending Social Security.

    What came to be called AFDC, for example, was originally included in FDR’s Social Security Act — the New Deal. LBJ’s Great Society agenda was an extension of the New Deal, reflecting the profound economic changes following WWll. The Great Society centered on the programs for young families in poverty. The Clinton administration ended actual welfare aid and took the first steps to begin similarly phasing out Social Security, targeting the disabled.

  • TecumsehUnfaced

    Huh? Which article are you talking about? Where does it talk about destroying “Social Security, Medicare and the mortgage interest deduction”?