The Aristocrats!

It’s been quite interesting to see Republicans embrace the notion that wealth inequality (or any inequality) is something to worry their pretty little heads about. Over the winter we heard numerous reports of various GOP luminaries expressing serious concern that average Americans were getting the short end of the stick while the wealthy few reaped all the rewards. Ted Cruz might as well have put on a blond wig and called himself “Elizabeth” when he railed against it after the State of the Union:

“We’re facing right now a divided America when it comes to the economy. It is true that the top 1 percent are doing great under Barack Obama. Today, the top 1 percent earn a higher share of our national income than any year since 1928,”

And here we thought that was supposed to be a good thing. Aren’t they the “job producers”? That’s how weird the GOP’s messaging has gotten lately. Mitt “47 Percent” Romney clutched his very expensive opera-length pearls, wailing that “under President Obama, the rich have gotten richer, income inequality has gotten worse and there are more people in poverty than ever before.” Rand Paul channeled his heretofore unknown inner Bernie Sanders, proclaiming that “income inequality has worsened under this administration. And tonight, President Obama offers more of the same policies — policies that have allowed the poor to get poorer and the rich to get richer.” It seemed to many observers at the time that this was a very odd choice of issue for potential Republican presidential aspirants to take up, since every item in the domestic GOP agenda would make wealth inequality even worse. This certainly wasn’t something they lost any sleep over before now.

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In any case, this shallow attempt at appearing to give a damn was short-lived. This week the GOP is voting, as they always do, to ensure that the heirs to the Wal-Mart fortune won’t be faced with the terrible responsibility of having to pay taxes on their inheritances. Dana Milbank of the Washington Post pointed out just how successful these protectors of the progeny of the one percenters have been in recent years:

It had long been a conservative ideal, and the essence of the American Dream, to believe that everybody should have an equal shot at success. But in their current bid to end the estate tax, Republicans could create a permanent elite of trust-fund babies. The estate tax was a meaningful check on a permanent aristocracy as recently as 2001, when there were taxes on the portion of estates above $675,000; even then there were plenty of ways for the rich to shelter money for their heirs. As the son of a schoolteacher and a cabinetmaker, I’d like to see the estate tax exemptions lowered — so that taxes encourage enterprise and entre­pre­neur­ship while keeping to a minimum the number of Americans born who will never have to work a day in their lives. The current exemption of $5.4 million (the current estate tax has an effective rate averaging under 17 percent, according to the Urban-Brookings Tax Policy Center) does little to prevent a permanent aristocracy from growing — and abolishing it entirely turns democracy into kleptocracy.

No, that wasn’t a mistaken cut and paste from the World Socialist Website. That really was Dana Milbank writing in the Washington Post, which is a testament to just how outlandish these Republicans have become. When mainstream columnists start using words like aristocracy and kleptocracy you know that something’s in the air.