Social Mobility…..not here, we’re an oligarchy

Krugman

“the U.S. is truly exceptional — that is, it performs exceptionally badly. Americans whose parents have low incomes are more likely to have low incomes themselves, and less likely to make it into the middle or upper class, than their counterparts in other advanced countries. And those who are born affluent are, correspondingly, more likely to keep their status.”

“If Tea Party types got their way, we’d see drastic cuts in Medicaid, food stamps and other programs that aid Americans with low income — which would in many cases leave low-income children with inadequate medical care and nutrition. We’d also see cuts in funding for public education. And on the other end of the scale, we’d see tax cuts that raise the incomes of the wealthy, and the elimination of the estate tax, allowing them to pass all of that money on to their heirs.”

Medicynical note: in case you weren’t sure: “Oligarchy is one of numerous English words for a type of rule or government. Some of these words, such as plutocracy, have an exceedingly similar meaning (both may be used to refer to rule by an economic elite, but oligarchy often has the additional connotation of corruption). “

Sadly this description of a government of, by, and for……money……is accurate.

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