Specifically, Perkins is upset that America's peasants and the Occupy movement don't understand all that the top one percent does for them, and society in general. Ergo we should stop complaining about the rich (and eat cake, as it were).
Strangely, Perkins then suggested that the criticisms of the top one percent in America are similar to the Nazis treatment of the Jews in the 1930s. Commenting on the "rising tide of hatred of the successful one percent" Perkins went so far as to suggest that we're on the path to another 1938-style Kristallnacht event.
Paranoia, indeed.
We want to keep in mind that Perkins is really criticizing those who believe that the richest one percent should pay more in taxes. Perkins believes the successes of the rich are their contribution to society, so they're already doing enough. What he ignores is since 2008 the U.S. taxpayer has made the "successes" of Wall Street - and their profit levels - possible with about $17 trillion in taxpayer-backed bailout pay outs and guarantees.
So, yeah, the criticisms and demands made by the public are valid ones.
Throw in the fact that middle America has struggled with stagnating wages, higher unemployment, and greater economic insecurity since 2008 and it becomes clear that Perkins isn't just paranoid. He's also clueless as to what's driving the demands for higher taxes on the top one percent.
What Perkins' comments show is that he and those in the top one percent who think like him have no sense of responsibility to the taxpayers who bailed them out and helped them get richer.
This shouldn't be surprising. We've seen this before. These are the people that FDR warned us all about when he said, "We must especially beware of that small group of selfish men who would clip the wings of the American Eagle in order to feather their own nests."
Arrogance and greed, after all, are human constants.
Anyways, Krugman finishes by arguing that the paranoia among the top one percent is not really guilt over great wealth. It's about them recognizing in their own way that, unlike the Robber Barons of the early 20th century, their market bets and paper empires aren't really creating anything of value. It's a visceral understanding that - especially after the 2008 taxpayer funded bailout - the top one percent have not earned what they have.
Perkins has since retracted his Kristallnacht comment. But he doesn't regret the message he was trying to send because in "the Nazi area it was racial demonization. Now it is class demonization."
Yeah, Perkins just doubled down on the stupidity. Incredible.
As I read the retraction it's clear to me that Perkins isn't just paranoid and clueless. He's also, as his peers and former colleagues put it, an a$$*%!# who needs to STFU.
- Mark
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