Wall Street WARZONE

Tax America’s “Super Rich” Now, or Face a Revolution, a Market Meltdown More Devastating than 2008, Revolution, Class Warfare, “Great Depression 2″

by Paul B Farrell, JD, PhD
| Print | 4/11/2011

Yes, tax the super-rich. Tax them now. They’re killing America. Tax them before the other 99% rise up, trigger a new “American Revolution,” meltdown, depression. Revolutions build over long periods. To a critical mass. Flashpoint. Suddenly ignite, unpredictably. Like Egypt, started on a young Google executive’s Facebook page. Then it goes viral, raging uncontrollably. Can’t be stopped. Here in America the set-up is our nation’s pervasive “Super-Rich Delusion.”

We know the super-rich don’t care. Not about you. Nor the American public. They can’t see. Can’t hear. Stay trapped in their Forbes-400 bubble. An echo chamber that isolates them. They see the public as faceless workers, customers, taxpayers. See GOP power on the ascent. Reaganomics is back. Unions on the run. Clueless masses are easily manipulated. Even Obama is secretly working with the GOP, will never touch his super-rich donors. Yes, the “Super-Rich Delusion” is that powerful, infecting all America.

Here’s how one savvy insider who knows described this “Super-Rich Delusion:” “The top-1% live privileged lives, aren’t worried about much. Families vacation at the best resorts. Their big concerns are finding the best Pilates teacher, best masseuse, best surgeons, best private schools. They aren’t concerned with the underlying deterioration of America or the world, except in the abstract, because they aren’t directly affected by it. That’s not to say they aren’t sympathetic, aware, or don’t talk about the issues you bring up. They are largely concerned with protecting and enhancing their socio-economic positions, ensuring their families live well. And nothing you write about will change things.” Warning, in 2011 that attitude is delusional, deadly, yet pervasive in America.

“Super-Rich” replaying 1920′s “Great Gatsby” era …
won’t learn till too late
Yes, trapped in the “Super-Rich Delusion” our top-1% actually believe they’re immune, protected from the unintended consequences of beating down average Americans for three decades with the free-market, trickle-down Reaganomics doctrines that made them “Super-Rich.” They honestly believe those same doctrines will protect them in the next depression. Why? Because they have megabucks stashed away. Provisions for the long haul. Live in gated compounds. Mercenaries guarding them.

They believe they’ll continue living just fine in a depression. But you won’t. Nor will your retirement. Neither will the rest of America. And still the “Super-Rich” don’t care about the rest of America, “except in the abstract, because they aren’t directly affected.”

Warning: The “Super-Rich Delusion” has pushed us to the edge of a great precipice: Remember the Roaring Twenties? The Crash of 1929? Great Depression? Just days before the crash one leading economist, Irving Fisher, predicted that stocks had “reached what looks like a permanently high plateau.” Yes, he was trapped in the “Great Gatsby Syndrome,” an earlier version of today’s “Super-Rich Delusion.” It was so blinding in 1929 that the president, Wall Street, all America were sucked in … until the critical mass hit a mysterious flashpoint, triggering the crash.

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