Scotties Toy Box

November 20, 2019

The billionaires are mad

Filed under: Economics, Fascism, Greed, Ideas, News, Political, Questions — Scottie @ 07:46

As the mayor of New York, Bloomberg fought hard (and successfully) to change the rules so he could have a third term, but then fought hard to change the rules back so that no one other than him could have a third term. Bloomberg showed animosity toward protesters during Occupy Wall Street, overseeing countless New York Police Department abuses and the eventual eviction of protesters from Zuccotti park. But even before Occupy, a different weeks-long encampment named “Bloombergville” decried the mayor’s opposition to taxing the wealthy, as Bloomberg instead proposed budget cuts for teachers.

 

In addition to preemptively hoarding money, billionaires are expressing their class solidarity in the election. Bezos encouraged Bloomberg to run, and Cooperman has said he’ll support Bloomberg now that he has officially filed. To his credit, there is one billionaire running for president who’s bucking the trend: Tom Steyer, though his proposal of taxing wealth above $32 million at 1 percent is more modest than Warren’s 6 percent tax over $1 billion (she raised it from 3 percent to 6 percent in her Medicare for All financing plan), or Sanders’s 8 percent tax on wealth over $10 billion. Steyer has also said, “If you want to represent the Democratic Party, you’ve got to be dealing with … incredible income and wealth disparities,” and called on Bloomberg to support a wealth tax.

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