To witness the consequences of a political system captured by and utterly subservient to the interests of organized wealth, take a quick look at the state of Oklahoma.
There we see the embodiment of the economic trends that have, over the past several decades, harmed working families and lifted the wealthiest: While providing a windfall of cash to special interests, particularly big oil, the state is cutting education and slashing funds allocated for the earned income tax credit, widely recognized as one of the more effective anti-poverty programs.
As the state cuts benefits for the poor, “Oklahoma’s tax breaks for the oil and gas companies — among the most generous in the nation — gave the industry $470 million in tax relief last year,” a recent New York Times editorial observes.
“It’s despicable to balance the budget on the backs of the most vulnerable population” while refusing to push any of the burden onto the wealthiest, lamented State Representative Emily Virgin.
One can look, also, to Wisconsin, where the Koch-backed governor Scott Walker achieved political prominence on the basis of his record of “taking on” unions and his philosophical approach to governance, which, though shrouded in libertarian garb, largely consists of socialism for the rich and austerity for everyone else.
(Read the rest here.)