Peak oil, which will bring the end of economic growth, may bankrupt the United States sooner than anybody thinks. But in the meantime, when our problems are more about finance than energy, there still seems to be plenty of money to go around if you can get your hands on it.
Rich people have always been first at the line for government handouts, but ever since Ronald Reagan, America’s top 1% has developed grabbiness into a fine art, pulling down tax rates for themselves through capital gains and inheritance while dinging the rest of us through rising income tax. And all the while, they’ve grabbed subsidies for industries that they run like Big Oil and defense, while leaving little money left to cover the services all Americans rely on like education and roads and rail.
Annie Leonard, who did “The Story of Stuff,” makes this crystal clear in her latest video animation, “The Story of Broke.”
Someday, the end of growth will put an end to many government services. But that day hasn’t yet arrived. So don’t let the rich bamboozle you into accepting unfair cuts on the middle class after the 1% crashed our economy. Instead, insist on fairness now, so that when contraction hits our economy in a big way, the principle of fairness will be firmly established.
— Erik Curren, Transition Voice