[Peace-discuss] That $50 Billion "Infrastructure" Plan

[David Green]

http://www.counterpunch.org/hudson09132010.html
 
"But Obama’s infrastructure plan is for Wall Street investors to get the 
windfall – as property owners or as mortgage lenders making much larger loans 
against the enhanced site value. Balzac said that behind every family fortune is 
a great theft, and I would add that behind every great fortune is a 
public-sector giveaway. The largest asset in most families, billionaires as well 
as small homeowners, is land. The key to its site value (“location, location and 
location”) is transportation and other public infrastructure. The land grants to 
railroad barons after America’s Civil War, for example created the largest 
American fortunes for the ensuing century. 

 
Obama’s guiding principle since taking office is that of his Republican 
predecessors: It’s Wall Street that makes America rich. In this mythology it’s 
the wealthiest brackets that employ labor, not downsize and outsource it. So 
it’s the rich who deserve tax breaks."


      
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