28 December, 2010

Jeffrey Sachs on dysfunctional US tax and wealth law

"With their backs against the wall, I predict, poor and working-class Americans will begin to agitate for social justice."

I get the feeling that soon there could be civil war in the US, but I am also a bit of a Cassandra so hopefully people like Jeffrey Sachs are more correct. He also makes other salient points, such as:

"Obama swept to power on the promise of change. So far, there has been none. His administration is filled with Wall Street bankers. His top officials leave to join the banks, as his budget director Peter Orszag recently did. Obama is always ready to serve the interests of the rich and powerful, with no line in the sand, no limit to "compromise".

If this continues, a third party will emerge, committed to cleaning up American politics and restoring a measure of decency and fairness. This, too, will take time. The political system is deeply skewed against challenges to the two incumbent parties. Yet, the time for change will come. The Republicans believe that they have the upper hand and can pervert the system further in favour of the rich.

I believe that they will be proved wrong."

I, too, believe that they will be proven wrong. Technology is a fantastic leveller.

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