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Another Salvo In Fox News’ War For The Wealthy

Reported by Guest Blogger - November 3, 2009 -

Guest blogged by Brian

Fox News’ “business block” is always looking for ways to help the rich and screw the rest of us. On Saturday’s (10/31/09) Cashin’ In, the gang used the ruse of claiming there’s a “war on wealth” to attack President Obama’s efforts to shore up the economy and help the middle class. With video.

The pretext for the discussion was an NBC poll showing 52% of Americans believe the country is headed in the wrong direction. Panelist John Layfield said it was because of "The war on wealth. Look, they're trying to make the playing field level out there, but instead of trying to make the poor richer, they’re trying to make the rich poorer... Robin Hood was a thief, and the hypocrisy of this government to turn around and leverage our country's future… the government is saying do what we say, not what we do and it’s horrible." It seems it was no accident that host Cheryl Casone turned to Layfield first. Fox News producers were ready in advance with a banner that read, “52% say U.S. on ‘wrong track.’ Blame DC’s war on wealth?”

Casone did not bother to hide her opinion. "They really are… taking a war out on the wealthy in this country to fix the problems that they're creating."

Christian Dorsey of the Economic Policy Institute was the lone progressive. "A war on the wealthy to fix the problems that the wealthy created – that seems fair to me,” he said. He noted that the eight countries ahead of the U.S. on a prosperity index are “countries that provide universal health care, provide a social safety net for their workers, support the balance of work and family. It's no wonder that we're number nine because we don't do any of those things."

The rest of the panel immediately began scoffing at him but he held his own marvelously. He’s our latest Top Dog.

“You get back to me with numbers on how the wealthy created the problems in this country and then we’ll discuss that,” Casone sneered. She never asked anyone else for numbers nor did they offer any. How fair and balanced – not!

Jonas Max Ferris said the other countries ahead of us "have massively higher tax rates than we do… I question how that list was created."

Jonathan Hoenig thought it was a problem with our country’s philosophy. "We've moved… away from the rugged individualism, yes the capitalism, yes the private property rights, that have defined this country… I'm sorry, Christian, but the rich, who I know you despise, they’re here not to serve the public good."

Dorsey said, "The financial sector collapse, rooted in the housing bubble, was in part drawn by greed."

Hoenig said, sarcastically, "Not (by) deadbeats not paying their bills."

Tracy Byrnes chimed in. "It was people who weren't rich. That's why we got in the problem in the first place because they didn't have the money to own the homes they did."

Dorsey got the last word. "I certainly think that we made a huge mistake in not regulating industries over the last 30 years, allowing greed to be the primary driver of economic activity."