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How Elizabeth Warrens Populist Fury is Remaking Democratic Politics
Key Excerpts from Article on Website of Time
Posted: July 20th, 2015
http://time.com/3951176/up-with-people/?iid=toc_070915
President Obama has spent the summer at war with his own party over how to write the rules of global trade. Not since Woodrow Wilson promised to break the money monopoly ... has the Democratic Party found itself so inflamed against the intersection of wealth and power. The giants of the party now find their credentials, and motivations, under attack. The new fire is fueled by a shift in economics that feels like a crisis for many Americans. Real wages have increased 138% for the top 1% of American income earners since 1979, but only 15% for the 90% below. From 2002 to 2013, the only groups of American households that did not see their real incomes on average decline or stagnate were headed by college graduates and young people in their 20s. At the same time, over a quarter-century, fixed costs such as housing, education and health care have outpaced inflation. [Sen. Elizabeth Warrens] message ... is that both Republicans and Democrats have misread the economic challenge and been co-opted by the forces of greed. The pressure on the middle class is not simply a natural force, she says. It is the result of deliberate decisions made by the leaders of this country. Americas enemy, in other words, lurks within. This is not a top-vs.-bottom story, she continues. This is a top-and-everyone-else story. This is a 90-10 story. Two-thirds of Americans now believe that wealth should be more evenly distributed. An even greater share of the country supports raising taxes on those who make more than $1 million.
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Elections Information Center.
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