'Babbling' and 'hoarse': Biden's debate performance sends Democrats into a panic

To impose a full measure of austerity upon workers and peasants, the ruling economic interests would have to abolish the democratic rights that helped the masses defend their modest living standards. The solution was to smash their unions, political organizations, and civil liberties. Industrialists and big landowners wanted someone at the helm who could break the power of organized workers and farm laborers and impose a stern order on the masses. For this task Benito Mussolini, armed with his gangs of Blackshirts, seemed the likely candidate.

In 1922, the Federazione Industriale, composed of the leaders of industry, along with representatives from the banking and agribusiness associations, met with Mussolini to plan the "March on Rome," contributing 20 million lire to the undertaking. With the additional backing of Italy's top military officers and police chiefs, the fascist "revolution"—really a coup d'état—took place. . .

In Germany, a similar pattern of complicity between fascists and capitalists emerged. German workers and farm laborers had won the right to unionize, the eight-hour day, and unemployment insurance. But to revive profit levels, heavy industry and big finance wanted wage cuts for their workers and massive state subsidies and tax cuts for themselves.

During the 1920s, the Nazi Sturmabteilung or SA, the brown-shirted storm troopers, subsidized by business, were used mostly as an antilabor paramilitary force whose function was to terrorize workers and farm laborers. By 1930, most of the tycoons had concluded that the Weimar Republic no longer served their needs and was too accommodating to the working class. They greatly increased their subsidies to Hitler, propelling the Nazi party onto the national stage. Business tycoons supplied the Nazis with generous funds for fleets of motor cars and loudspeakers to saturate the cities and villages of Germany, along with funds for Nazi party organizations, youth groups, and paramilitary forces. In the July1932 campaign, Hitler had sufficient funds to fly to fifty cities in the last two weeks alone.

In that same campaign the Nazis received 37.3 percent of the vote, the highest they ever won in a democratic national election. They never had a majority of the people on their side. To the extent that they had any kind of reliable base, it generally was among the more affluent members of society. In addition, elements of the petty bourgeoisie and many lumpenproletariats served as strong-arm party thugs, organized into the SA storm troopers. But the great majority of the organized working class supported the Communists or Social Democrats to the very end. . .

Here were two peoples, the Italians and Germans, with different histories, cultures, and languages, and supposedly different temperaments, who ended up with the same repressive solutions because of the compelling similarities of economic power and class conflict that prevailed in their respective countries. In such diverse countries as Lithuania, Croatia, Rumania, Hungary, and Spain, a similar fascist pattern emerged to do its utmost to save big capital from the impositions of democracy. . .

Both Mussolini and Hitler showed their gratitude to their big business patrons by privatizing many perfectly solvent state-owned steel mills, power plants, banks, and steamship companies. Both regimes dipped heavily into the public treasury to refloat or subsidize heavy industry. Agribusiness farming was expanded and heavily subsidized. Both states guaranteed a return on the capital invested by giant corporations while assuming most of the risks and losses on investments. As is often the case with reactionary regimes, public capital was raided by private capital.

At the same time, taxes were increased for the general populace but lowered or eliminated for the rich and big business. Inheritance taxes on the wealthy were greatly reduced or abolished altogether.