This is one of the most eye-opening books about modern political policy, political history of how the Super-rich took so much of the control from Washington DC, and why it is difficult to make meaningful change.
Due to the fact it covers the history of the rise of the top 1% through political maneuvering from Presidents Reagan to Obama, it would be too much to unpack in just this simple blog post. If you truly care about the economic inequality that has shattered the middle and lower class of the US, this book is an absolute must-read that will give you the full breadth of information and clarify much of the purposeful misinformation that the Mainstream news media posits as reasons for the economic inequality and the chronic inaction of Washington.
In brief, I'll cover some of the broad range of topics that this book covers and fully clarifies. I can only go into a minutiae and highly recommend personally buying and reading every single chapter in chronological order so you understand the full scope of the contemporary events that are creating problems in the US.
A brief warning though, this is mostly going to seem incredibly one-sided and although I don't doubt bias, much of this makes far too much sense and is consistent with much of the political issues that are making the Middle and lower class of the United States suffer. It's a hard pill to swallow and it completely destroys the failure of bipartisanship on both sides narrative.
Most interestingly, Hacker and Pierson do not pull any punches on the ignorance of the majority of US citizens on policy issues, agenda setting, the inner workings of Washington, and the average US American knowledge of how many of which party voted on a highly publicized policy such as Obamacare. They take it even further, and elaborate on how each party use the ignorance of the broad public to purposefully create the sense of disillusionment, apathy, and despair that the majority of US Americans feel with Washington. Moreover, how it's used to stoke anger, backlash, and constant resentment so that tax cutting initiatives for the super-rich go unimpeded.
One key aspect before you begin to read:
Who are the Super-rich? Broadly speaking: The heads of Financial institutions such as CEOs in banking, investment banks, brokerage firms, corporate CEOs, Realtors, and private equity firms. Essentially, Wall Street.
They typically hide how much in millions they're making from their tax returns via stock options and deferential payments to avoid showing up on their tax returns. For that matter, their expenditures for donations to both major political parties, the Republicans and Democrats, are four times as much as energy companies and other organizations. The financial industry donates the highest in campaign contributions to both parties of Congress and the White House.
Without further ado, here are just a few topics covered in this book and the explanations below are only the tip of the iceberg. If you wish to fully understand the key issues, purchase and read the full book yourselves. You will gain a clear insight and possibly pick-up on specifics that I possibly missed.
To reiterate and emphasize, this political book is highly recommended:
1. The Mainstream News Media is purposefully misleading voters/viewers on what the problems are:
The coined term "objective journalism" isn't really objective at all. It's really the Middle-ground fallacy, that is trying to find fault with both parties in equal measures, when the data shows that one side is disproportionately the problem. The Mainstream media continues this fallacious narrative in trying to make a "our side" and "their side" narrative with Pundits going on ego-stroking explanations on how a disaster would have been avoided if the current administration (whether Democrat or Republican) had just followed an idea that the pundit had after some financial or political disaster has happened.
The mainstream news media also continues to play up or give credence to this distorted narrative of "big government" being in the way of economic entrepreneurs who wish to freely express their individual freedom for economic growth and job creation. This is a completely fictitious narrative, not the least of which is because corporations and the top 1 percent and, even more so, the top .001 percent have received constant tax cuts for the past thirty years. Even more importantly, the income bracket has not been updated to reflect the whooping increase in wages for the top .001 percent to raise their taxes for infrastructure and to update economic regulation on unchecked corporate power. As a result, wages for the bottom 80 percent have effectively stagnated while inflation has risen, and upper middle to lower class Americans are paying more and more while the wealthy are getting tax cuts.
The idea that technological changes created this inequality, while true in some slight respects, is pure garbage in regards to the broad economy. Other countries do not have such a vast difference in wealth disparity apart from countries like Great Britain which modeled themselves after US economic policies and harbor a vicious classist culture of their own. But countries like France, Germany, and Japan do not hold this problem, because their labor unions didn't fall apart like US labor did during the Carter years and onward. More on that in #3.
2. The Mainstream Media is using Swing Voters as a scapegoat.
Contrary to what mainstream outlets have the majority of US Americans believe to be true about swing voters, poll after poll shows that they're the least informed and most ignorant about political events and the differences between both major parties. This means that they can be utilized as convenient scapegoats with this narrative of racism or ruthlessness on the part of voters against racial minorities, White Americans, or those of the lower-income bracket. The idea that the average US American hates it's poor or hates a specific racial group gets personified. While there may be some truth to these claims, especially from outlandish types online and violent types that make headlines, the majority of US Americans don't actually secretly hate each other as this narrative implies.
The most crucial and dangerous aspect of this issue is the attempt, engendered by the super-rich, to differentiate social equality with economic equality. To put bluntly, it's trying to make people believe the impossible. While yes, to a significant degree, economic inequality helps perpetuate racial divisions, the fact of the matter is that true social equality simply cannot exist when everyone is struggling to make a living. It creates apathy for social issues at best and places blame on racial minorities at worst. But, when the slice of the metaphorical pie is being taken more and more by the super-rich, there's simply no quality of life for the rest of the country because the public simply cannot function when there is no livable wages for anyone. The Mainstream media is completely apathetic to this basic fact and does everything to essentially brainwash US Americans into believing that the two can be separate.
It's actually a strong show of the US's strength of character that discrimination continues to be highlighted, criticized, and robustly vilified by the majority of US Americans even as everybody is losing out to the Super-rich thanks to the two-party system.
3. Organized Labor's fall caused an information vacuum and Economic Drift.
In brief, during the Carter years, there was a massive shift in business organizations linking together to fund special interest groups. By the 1980s, American Labor couldn't compete with the massive and concerted organized funding of lobbying groups representing business interests. Previously, they weren't making any concerted organization and felt threatened by American Labor's powerful lobbying firms. So, corporations took action and joined together to form powerful interest groups. They spent, for their time, unprecedented amounts of donations for fundraising for politicians. Within short order, politicians of both parties had to fundraise hefty amounts of money for televised advertisements and flyers to keep their seats in office. It was, during Carter's time, a massive shockwave that changed the contours of US politics.
Over the years, there was an expansion of the number of lobbying firms, expenditures for business lobbying firms rose exponentially, and the lobbying firms eventually - and still do - functioned as "floating heads" without any organized grassroots efforts. Their expenditures were initially three times higher than what American Labor groups could do, this unprecedented and sharp rise in lobbying from business crippled American Labor within a short time. It only got worse by the 1980s, the expenditures rose from three times what American Labor could do for fundraising and donations to then becoming ten to thirteen times higher. American Labor broke down and the massive protests did little to stop the policy shift of economic drift.
Economic Drift, in Hacker and Pierson's terms, are not derailing policies, but rather failing to upgrade existing regulatory policies to reflect the modern political landscape, economic shifts of wages, inflation, and providing regulations for emerging technologies. Instead, organized efforts of interest groups made loopholes for tax breaks, put stops to critical social protections for the American workforce, deregulated the financial industry, and worked to make sure that politicians didn't upgrade emerging financial trends to prevent economic catastrophes like the Great Recession of 2007-2008. Then, after the catastrophes, made sure to keep tax cuts for the super-wealthy while forcing the bottom 80 percent of the American workforce to foot the bill for their disregard and lack of regulatory oversight to protect consumers, stockholders, and the American workforce.
This, in and of itself, is a very brief synopsis since Hacker and Pierson meticulously go through the history and details of exactly how all of this happened from the Carter years onward. They make a definitive point to note two key changes that truly harmed the American workforce and helped the deregulation that prompted the careless disregard by the super wealthy:
First, due to the rapid decline of American Labor - which was partly shielded by the rise in labor unions in the public sector while the private sector unions all but evaporated - the American workforce became less tuned to Washington policy changes. Despite the funny hats and social customs, American labor was key in getting the majority of Americans to understand policies that effected their living standards. No more. Thanks to their fall and the rise of special interest groups working exclusively for corporate power.
Second, during the supremacy of television, televised advertisements for politicians by lobbying firms helped to spread misinformation and focused on anger inducing techniques to inspire voting for policies which were harmful for the majority of US Americans. Sometimes they utilized outright lies to fool people into voting for a politician who supported policies harmful to the majority of the US public but helpful to corporate interests.
Even worse, US Americans don't understand the true importance of elections because the mainstream media utilizes Us versus Them sports analogies. This is ultimately a corrosive and disingenuous view of the politics of capitol hill. What matters most is that the supermajority in power determines the policy agenda that the Congress will discuss for their years in power and what the majority of Americans should pay attention to is what policies that politicians actually pass and permit to become law. Often, they'll try to bluff by espousing rhetoric about how economic policies favorable to the majority of the US public couldn't pass because of the specific bill in place, but the politician will insist they support the public good while passing laws that diminish and harm the majority of the US public. The main focus needs to be on policies and laws actually being passed to learn what politicians in general - and your specific politician - really support on a consistent basis.
4. Partisan Politics is useful for the agenda of the Super-rich.
It's interesting and gives a superficial understanding of what has happened, it is ultimately wrong. It does not unveil the true extent of the problem. The two-party system hatred is absolutely valuable for the agenda of the Super-rich, if anything it is highly crucial to keep their stronghold on Washington. That is because retired government officials or those who've moved to private sector jobs usually find work with the very powerful interest groups that lobby in Washington. People understand this, for the most part, but they don't understand how deep it goes.
As time has gone on, since the beginning of this trend during President Carter's administration, significant increases millions of dollars of expenditures for lobbying groups have been pumped into lobbying to increase the proficiency of organized groups. These organized special interests work diligently to make into law the interests of the Super-rich. Typically, they work hard on tax cut loopholes for the Super-rich.
Special interest groups representing the Super-rich have keyed in and have gone from developing strategies in which they hire former congressional staffers who have knowledge of or a close personal relationship with each congressman in Washington that are on specific congressional boards whose policy formations represent their business interests. Over the past thirty years, they have "modernized" this strategy. The problem was that, when there was political overhaul with a new supermajority party in power, the special interests typically cajoled the previously hired staffer of a political party, that was no longer the majority in Congress, to retire early. This was so that they could hire someone new from the other political party to take the helm and pursue their political interests utilizing the close personal ties to that specific party.
No more; this strategy proved inefficient and obviously lead to distrust. Now, with the increasing expenditures of special interest groups to create a more efficient organized capacity for lobbying has created a massively successful framework. The special interest groups representing the Super-Rich have created two sets of organizations - one for Democrats and one for Republicans - so that regardless of whichever party is in power, the Super-rich will simply switch up the teams to use the most relevant political party that has ties to the elected congressman. Thus, the two-party system, and the public's idea that one political party is "their team" and that their corruption is "less worse" or "necessary" to fight the other team, helps the Super-rich continue to demand tax cuts while both political parties write up new tax laws that raise the taxes of the lower-income Americans, the Middle Class, and the Upper-Middle class while slashing taxes vigorously for the Super-rich.
The Super-rich and both political parties have helped obfuscate the heinous degree in which they've ruthlessly continued this policy for the party thirty years. They have the Mainstream News media depict reduced taxes for the lower-income, middle, and upper-middle class and seem to increase taxes for the Super-rich; what isn't shown however is the chronological effect of such tax policies. While most of them will have reduced taxes for the bottom 80% for the first year or even the first two years, and have that part publicly shown on mainstream news outlets, within short time (for a tax policy), the 5 or 10 year tax policy will have aggressive cuts for the Super-rich and significant - often massive - increases in taxes for the lower-income, Middle, and Upper-Middle class of the US public. Obviously, it's proportional to what they have but there are significant increases all around, and the burden is solely on the bottom 80 percent.
So what happens? Lower-income voters feel detached and like they don't matter so they don't vote. Middle-class voters become more permissive or apathetic to discriminatory rhetoric for racial minorities (those who lose jobs either blame identity politics or the racial minorities who they feel are stealing their jobs), and the Upper Middle-class has this biased idea that they're becoming poorer despite working harder than lower-income Americans. They may blame their lessened wealth on the idea of lazy poor people because they met one or two lazy people or know of a family they think of as lazy or with certain problems. Reactionary politics ensues, the "other party" Democrat or Republican, takes the supermajority hold in Congress and promise reform while then helping distribute more tax cuts for the Super-rich without any meaningful debate on what it's doing to the rest of US society. The Super-rich use their other team of their special interest group that have close ties to the other political party and then the Super-rich walk home with the grand prize of less taxes while the bottom 80% begin to blame their morals or technology or lack of religion or racial minorities or Millenials or whatever.
This is also why Gerrymandering is important, and often given the narrative of us vs them between Republican and Democrat political parties to further obfuscate how much the bottom 80% is losing out to the Super-Rich. Gerrymandering assures that the two-party system stays in power and is vitally important for the Super-rich to keep their own power over the bottom 80 percent.
5. Evangelical Christians faithfully served the Super-rich and destroyed the Middle-Class.
This is probably the most contentious aspect of their book, but they have the historic facts to back it up and the tale is unfortunately very one-sided under legitimate objective scrutiny.
In brief, starting from the Carter years over rising anger over the possibility of churches being taxed, the anger simmered since Evangelicals were already reluctantly conceding to racial integration, the approximately 50 million US Americans (a number Evangelicals are happily to self-tout in their propaganda) staunchly and happily acted as the grassroots force of the Republican party. And with the majority of the US public inattentive and ill-informed, the Evangelicals highly organized and motivated grassroots organization proved effective in keeping Republicans under majority control from the Carter years to the Clinton years in the US Congress. The political advocacy for conservative social values only increased for the Presidency of George W. Bush and especially during the 2004 campaign against John Kerry.
Republicans organization forces, and during the 1980s, their mail-in donation orders, helped to eclipse the organizational capacity of the Democrats. The dedication and tireless work of Evangelical Christians for the Republican party helped to cement their supermajority foothold. Evangelicals were quick to campaign door to door, to phonebank for candidates, and to help fellow Evangelicals to drive to the polling locations. And for all their hard work? They happily sat back as Republicans aggressively promoted Conservative social values such as the anti-LGBT scare of 2004 and the anti-abortion bills in local, State, and Federal government, sometimes even in the cases of infringing upon the rights of rape victims.
If you do wish to learn more about what is going on, this book is highly recommended. Please read it, at least you won't be as confused about why nothing positive seems to be happening with the US Congress regarding economic inequality. If you still have hope for change, unlike me, then please read this book.