One Nathan Lewis, a Forbes columnist, describes the peculiar character of American fascism here:
[P]articularly in the last few years, the character of U.S. policy has become distinctly corporatist, favoring large-scale theft (“bailouts”) particularly by the financial sector, although also by the defense, education, and healthcare sectors in my opinion. Many corporations have also used their political influence to allow themselves to engage in behavior that is destructive to the middle class, such as predatory or just plain excessive lending, for homes, autos and education, which might otherwise have been curtailed. The U.S. healthcare system has also become effectively predatory upon the middle class, claiming 17% of GDP to provide what costs 5-8% of GDP in other developed countries.
In short, certain businesses are using their influence of the political system to take the government’s money. And, since it is mostly the “99%” who provide this money, via their tax payments, this constitutes theft from the middle class by the oligarchical class. So far, this theft has been financed essentially by debt, so the effect on the middle class has not been felt directly. But, debt will need to be paid, and it is the taxpaying “99%” that will do the paying. ...
[F]our elements – devaluation of wages by currency mismanagement; mediocre tax policy including a gradual increase in tax rates on lower incomes; the deteriorating capital:labor ratio; and crony capitalist theft and predatory activities – constitute the basis for the deterioration of the U.S. middle class today.
