Occupy Wall Street organizer: Republicans are the ones waging class warfare

The summary of the video below comes from the article Occupy Wall Street organizer: Republicans are the ones waging class warfare on the Raw Story web site.

David Graeberm, one of the organizers of the “Occupy Wall Street” protest, said Monday on Democracy Now that it was Republicans, not President Barack Obama, who were engaged in class warfare.

“Well, generally speaking, when you hear a Republican talk about class warfare, you know they’re waging it,” he said. “I think that the easiest way to put what’s going on in perspective is to think the situation in the ’50s under Eisenhower, who was of course a Republican president, when tax rates on the wealthiest were actually 90 percent. I don’t remember the economy freezing up and falling apart in the 1950s. In fact, it was booming.”

“I think that for the last 30 years we’ve seen a political battle being waged by the super-rich against everyone else,” Graeberm added.

The more significant part of this video may be the discussion at the end about debt restructuring. David Graeberm talks about how debt restructuring between the wealthy or between countries is common place, yet debt owed by the poor to the rich is considered to be sacrosanct and should not be restructured.

Maybe this difference is a natural consequence of the wealthy and nations having the resources to hire good lawyers and large armies to fight their creditors whereas the poor have no power to resist their creditors if the poor should default.

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