Community | January 26, 2012 | 6 comments

Elizabeth Warren explains why America stopped investing in the middle class

source: http://www.dailykos.com/story/2012/01/25/1058374/-Elizabeth-Warren-explains-why-America-stop...

WakeUpPeople
Last night during an appearance on the Daily Show with Jon Stewart, Massachusetts senatorial candidate Elizabeth Warren explained why the federal government no longer invests in building up the middle-class. Here is Warren, starting at 2:40 in the interview, a video of which can be seen below the fold:

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What's happened is that Washington now works for those who can hire an army of lobbyists and an army of lawyers.

You know, if you're in the drug business, and you are selling prescriptions to seniors, and you don't want to have to negotiate over the prices, Washington works beautifully for you.

If you want subsidies to drill for oil, Washington is working for you.

If you run a hedge fund and want to pay the lowest possible taxes, Washington is working for you.

In fact, there was recently a study, just in the last couple of weeks, there was a study in which it comes out that thirty of the largest companies in the United States are now spending more on lobbying than they pay in federal taxes.

Think about that. I mean that is the investment, and that's what they see as the future.
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Politicians and pundits often say that Washington, D.C. is broken. However, the truth is that Washington works just fine for large corporations. These corporations invested heavily in influencing public policy, and it paid off handsomely for them. Everyone else just got left behind in the process.

Elizabeth Warren gets this, and it is yet another reason why we need her in the U.S. Senate.

Sign up to receive Elizabeth Warren related action alerts from Daily Kos. Her full interview with Jon Stewart can be seen below the fold.
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