Monday, October 17, 2011

Reich: The Regressive Right

I wrote briefly HERE about the "Glory Days" - that period after WWII that most Republican's in your community would point to as the high water mark that they yearned to return too - and I make the point that their visions don't often match the reality.  Robert Reich has an interesting piece today that points out the period that those Republican's who pull the strings of the Republican's in your community, long for...

"They'd like to return to the 1920s -- before Social Security, unemployment insurance, labor laws, the minimum wage, Medicare and Medicaid, worker safety laws, the Environmental Protection Act, the Glass-Steagall Act, the Securities and Exchange Act, and the Voting Rights Act.

In the 1920s Wall Street was unfettered, the rich grew far richer and everyone else went deep into debt, and the nation closed its doors to immigrants.

Rather than conserve the economy, these regressives want to resurrect the classical economics of the 1920s -- the view that economic downturns are best addressed by doing nothing until the "rot" is purged out of the system (as Andrew Mellon, Herbert Hoover's Treasury Secretary, so decorously put it).
In truth, if they had their way we'd be back in the late nineteenth century -- before the federal income tax, antitrust laws, the Pure Food and Drug Act, and the Federal Reserve. A time when robber barons -- railroad, financial, and oil titans -- ran the country. A time of wrenching squalor for the many and mind-numbing wealth for the few."

Read the rest HERE

No comments: