Economics Financial Crisis Politics

The Battle of the Rich

Newsweek Finance editor and Slate contributor Daniel Gross and I seem to be thinking along the same lines, as we independently came to a similar response to his column of last week:

Last week, I wrote that the Republican claim that Obama is fighting a war against the rich was bogus. Over the weekend, I thought better of it. It turns out there is a war on the rich. Only it’s not being waged by vicious overlords in Washington intent on depriving honest, hardworking stiffs of their livelihoods. Rather, it’s a civil war, a war between the rich. It’s Park Avenue marauding through SoHo, Buckhead rampaging through Hilton Head, Palm Beach shelling Bal Harbour with the big cannons.

Call it the War Between the Estates.

While we both came to the conclusion that there is a battle going on amongst the rich, I came to a somewhat different conclusion about where to draw the lines in, as I wrote:

I realize that we are now observing a “Culture War” between the haves and the have mores, between the elites and the financial elites, between two opposing sides in the “overclass.”

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