PLANET OF THE PLUTOCRATS: PROSPERING DURING THE PANDEMIC

All right, you know the drill:

Over 560,000 dead, with Black, Brown, and Native American bodies disproportionately piled up.

Tens of millions of jobs up in smoke, some of which are probably gone for good.

Millions of families at risk of being booted from their cribs.

Untold numbers of folk gripped by grief because of they were unable to gently stroke the hair loved ones exhaling for the last time.

State and local budgets getting slammed by a toxic combination of dwindling tax revenues, record unemployment, and rising health costs, leading to cuts in infrastructure and education.

And, as if that's not enough, there's been no let up of police killings of Black and Brown folk.

The last year, in short, has brought more than its share of misery.

But there's a group where it's been more about money than misery. Sure, they've probably had friends and loved ones struck down by COVID, and the incompetence and hatred of science that characterizes the previous regime. But, no doubt, their money --and the influence that comes along with it-- guarantees them access to the best available treatment at the time. In many ways, they experience a reality that's radicaly different from that of most of us, especially those of us who inhabit the intersecting identities of Black, poor, and woman. The air they breathe is rare. They live longer. And they've got goo-gobs of money. In fact, it's like they live on a different planet than us mere mortals.

The planet of the plutocrats.

LIFE ON PLANET OF THE PLUTOCRATS

So, what's life like on planet of the plutocrats (POP)? In one word: Good. Or perhaps two words would better capture it:

Damn Good.

The inhabitants of POP are not ontoloogically different from the rest of us The nature of their being is no

different than rest of us. They're not gods or some sort of divine being, even if some folk are prone to treating them as such.

But, economically speaking, they're pretty much located in a different galaxy. Take, for instance, the "planetary conditions" pertaining to the wealthiest citizens of the United States. There are 719 billionaires in the U.S. who, collectively, rock a networth of $4.56 trillion dollars. You read that right: 4,560,000,000,000. The collective network of those 700 persons is higher than the Gross Domestic Product (GDP) of some countries, including, for instance, France (2.7 trillion), Germany (4.3 T), Italy (2.1T), and the United Kingdom (3.1T).

And here's another thing: The networth held by the United State's billionaires ($4.56 trillion) is more than four times greater than that held by the bottom half of the population ($1.01 trillion). Or, to put it in more stark terms: The networth of 719 persons more than quadruples that held by the 165 million persons constituting society's bottom half.

By the way, if you're thinking that the pandemic has slammed planet plutocrat--well, think again. Between March 18th, 2020-- the point at which stuff started to get sealed up because of the pandemic-- and April 12, 2021, the 719 "residents" of planet plutocrat saw their networth jump by 55%, soaring from $2.95 trillion to $4.56 trillion.

Six of the 719 residents --Jeff Bezos (Amazon), Elon Musk (Tesla), Bill Gates (Microsoft), Mark Zuckerberg (Facebook), Warren Buffet (Berkshire Hathaway), and Larry Elision (Oracle)-- are "centi-billionaries," folks whose networth is at least $100 billion bucks. And the increase in their network during the pandemic induced recession has been absolutely bannans. Between March 2020 and April 2021, JB's networth took off like a rocket, rising from 113 to 196 billion, or about 74%. Percentage wise, Elon Musk leaves JB in the dust: Musk's networth ascended from $24.6 billion to $147.4, a 600% percent increase. While JB and Elon Musk take the cake, every one of the remaining four "centi-billionaires" experienced double digit increases in their networth. All of the "residents" of planet plutocracy are emerging economically unscathed, and this is particulary so for the wealthiest of the wealthy.

PAYING FOR PLANET PLUTOCRAT

All of this has taken place during a period while millions of folks have lost jobs, hunger has increased, poverty has jumped, infrastructure has crumbled, state and local budgets have been squeezed, frontine workers have put their lives on the line, millions remain at risk of eviction, unions have been defeated and hundreds of thousands have died unnecessarily from what was, until recently, an utterly inept response to a public health crisis.

Pundits, politicians, and plutocrats incessantly pontificate about what we can not afford. Health care for all? Can't afford it. Increased minimum wage? Can't afford it. Eliminate student loan debt? Seriously invest in renovating a raggedy infrastructure? Eradicate poverty? A jobs program guaranteeing work for all those able, ready, and willing to work? Universal Basic Income? Forget about it, we're told. We can't afford it.

What we can't afford is planet plutocrat; what we can't afford is a miniscule slice of the population exerting political influence out of proportion to their numbers; what we can't afford is an ever tightening link between economic and political power; what we can't afford is a socio-political regime that is increasingly dressed in the trappings of plutocracy; what we can't afford, what most of us can't afford, is the type of draconian policies that, despite their individual differences on "social differences," collectively pushed by residents of planet plutocrat. Tax cuts. Slashes to social security. Unrestrained free trade, with no effort to protect workers who end up with lowered wages and joblessness. Relentless demonization of government and the concomittant divinization of markets.

We can't afford the rule of planet plutocracy--not if we desire to build an economy that prioritizes people over profits; not if we desire to prevent the further erosion of a genuine democracy.

Now, in my judgement, is the time to push even harder to disrupt the tax avoidance industry and to fight for a serious wealth tax. Such a move has the potential to generate revenues to fund the meeting of genuine human needs, and to throw some sand in the wheels of planet plutocracy.

I'll talk about what that'll look like in subsequent visit to planet plutocracy. In the meantime, I'll catch you on the flip side.

Doc Greene