The Tea Party Moron Complex

Matt Taibbi, The Tea Party Moron Complex

If American politics made any sense at all, we wouldn’t have two giant political parties of roughly equal size perpetually fighting over the same 5–10 percent swatch of undecided voters, blues versus reds. Instead, the parties should be broken down into haves and have-nots -- a couple of obnoxious bankers on the Upper East Side running for office against 280 million pissed-off credit card and mortgage customers. That’s the more accurate demographic picture of a country in which the top 1 percent has seen its share of the nation’s overall wealth jump from 34.6 percent before the crisis, in 2007, to over 37.1 percent in 2009.   Moreover, the standard of living for the  average American has plummeted during the crisis -- the median American household net worth was $102,500 in 2007, and went down to $65,400 in 2009 -- while the top 1 percent saw its net worth hold relatively steady, dropping from $19.5 million to $16.5 million.


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