And the bankers are about to pay a price.
Bam needs a scapegoat, and fast. And they are the scapegoats sent over from Central Casting. He is about to take a fake Cherokee sledgehammer to them.
I am actually changing my opinion on this and find myself agreeing with you. It is hard enough to protect the producers at the top end. It is near impossible if they won't help us help them. So, screw em' - for now. They are voting Democrat, so why are we protecting them again? It is always tough to defend the business and producer class against demagogues, near impossible if the people we are standing up for are stabbing us in the back. Let the tax rates rise on the wealthy until they come crawling back to conservatives begging for help.
You do not protect middle class families by attacking their employers.
This is Economics 101.
And it isn't just bankers who are not on the President's side here. It is most "hard" business owners.
The millionaires referred to here are generally people in the entertainment, consulting and legal fields - people who typically benefit from enhanced regulation or who depend on government-enforced monopolies.
Most of the wealthy folks of both political parties receive their incomes from government (including local government) and/or government-linked business (services, etc.). Most political speech is sponsored. That’s why most political speech is increasingly crazy from both sides and disgusting to reasonable, truly conservative Americans.
Most middle class families are also reliant on government debt/revenues for their incomes. The un-fallen half will be moving in with “47%” shortly, as the monstrous (but soon shrinking, see “austerity measures”) pile of debt is gobbled up by the bigger fish. In other words, the remainder of the middle is about to be laid off and taking “haircuts” (as bond investors will), too.
The government taxes income, not wealth. What better way to keep the riffraff down?
Reminds me to go back and reread the “Forgotten Man” again. The economy continued to tank under FDR, but he was still reelected. I don’t know why I thought it would be any different this time. If we’re lucky, we only face about 20 years of no growth. Of course the final medicine of a world war wasn’t optimal either.