Sunday, February 7, 2016

Tearing down the myth that the Tea Party is based on anger over Wall Street bailouts

Tearing down the myth that the Tea Party is based on anger over Wall Street bailouts


One of the biggest myths about the Tea Party is that a driving force in its creation was anger over bank and Wall Street bailouts. It's true that some rank-and-file joiners did feel that way at first, but they were quickly co-opted by the movement leaders -- including radio talkers and groups funded by the Koch Brothers -- into worshipping the rich instead.

Here, by way of Brian Hickey, is what the local Independence Tea Party has to say about Occupy Wall Street:

“The idea that Wall Street is the root of all evil is also an anathema to us. Like any other institution, Wall Street has its corrupt figures–and such individuals should be dealt with accordingly,” said Ms. Adams. “But to condemn Wall Street, en masse, is akin to condemning our entire free enterprise system.

“Our Association deplores corporate bailouts (GM), corporate subsidies (Solyndra), and corporate welfare. At the same time, however, we recognize the contributions and achievements of America’s chambers of commerce.

So why does the Tea Party deplore the government rescuing GM -- which actually makes things and employs thousands of middle-class Americans -- and yet make no reference of the massive corporate bailout of AIG, which makes nothing but profits (or risky losing bets). This is what hypocrisy looks like,

It's also clear that the Tea Party ascribes magical powers to Barack Obama. Adams goes on to state:

“Currently, the federal government, led by the Obama Administration, is stifling the American economy with its reckless deficit spending and zealous over-regulation of the private sector economy.

“The result has been a disastrous three-year-plus recession (which many are now calling a depression) that has devastated American families with its high unemployment rate and its built-in cost of living increases.”

According to economists, the recession started in December 2007 -- 13 months before Obama became president. Who knew he was such a force that he could bring down the economy that far ahead of time!

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Will Bunch
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