... is being fought BY the rich, according to this article by Daniel Gross in Newsweek.

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.

In the past two years, since the market peaked, investors have suffered some $11 trillion in stock losses. Of course, stock ownership is more widely spread today than it has been in the past. But wealth is also much more concentrated than it has been at any point since the 1920s. And so while all ships are swamped by a rising tidal wave, some of the yachts have suffered the most damage. The worst of the losses haven't been in mutual funds and college-savings programs that cater to the middle class. No, when it comes to lighting piles of money on fire, blowing up assets, and generally causing financial carnage, the rich have been going at one another ferociously.

So much for the idea (or meme, for those who prefer corny jargon) about the war on the rich being waged by... um... Obama? Liberals? Democrats? Environmentalists? Illegal aliens? Little green aliens?