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Yes, it seems like the right will fight to the death the "right" of the wealthy to do what they heck they want, as we descend into third world status. I don't begrudge any American citizen wealth, but the current system has created a society of haves and have nots. That is not a society that I want my kids to grow up in. We need to strike a balance, and expecting wealthy capitalists to have compassion and patriotism is a stretch. I'd gladly be proven wrong, but nothing I have seen dissuades me. If we cut taxes on the rich, they will use that capital to buy lobbyists, congressman, judges, and propagandists to ensure that we do it again, and again, and again. A sense of proportion is not their strong suite.
Hehehehehe! Never read the dude at all. However, I do love America, and when millionaires becoming billionaires is more important than decent jobs for the working man, I think something stinks. I came to that brilliant insight all by myself.
Hehehehehe! Never read the dude at all. However, I do love America, and when millionaires becoming billionaires is more important than decent jobs for the working man, I think something stinks. I came to that brilliant insight all by myself.
Do you disagree?
Millionaires dont become billionaires, without employing employes.. Lots and lots of them.
2. "Why was Reagan able to reverse a worse economic situation in the same time frame?'
I'll take a stab at this one. Globalization.
Yes, it existed then, the official beginning of modern economic globalism was May 7th, 1945. It slowly snowballed and now is out of control, but in the 1980's it was just only beginning to have large scale negative effects. Manufacturers had actually began shutting down operations here & moving to Japan in the 70's, but it slowly accelerated in the 80's. There were very few foreign workers here, but the IRCA legislation in '86 and the Kennedy-Simpson bill of '88 increased the numbers. Many of the large free trade agreements we have now didn't come into play until the 1990's. IT work by IBM and Microsoft was almost exclusively done here & not sent to Asia.
Basically, by about late 1983 after the early 80's recession ended unemployment started to fall back toward 7% and eventually fell to 5% by 1989 which is what's considered the definition of "full employment." Few jobs that were lost in that recession left the country, so when economic conditions improved hiring was fairly strong. People have told me that by the late 80's if you quit a job on Monday, you could likely be starting a new one by the following Monday.
As has been said before, many jobs that left in the 90's and 2000's are gone and are never coming back & that's why hiring is very weak now.
I almost forgot, we actually had an extremely competent Fed chair in the early 80's, Paul Volcker. Bernanke is a true idiot compared to this guy. Raising interest rates up to 20% killed the stagflation the country had been in. Contrast that with Bernanke who is keeping rates at virtually 0% in this current period of stagflation. I don't think rates need to be jacked up to 20% again as that would do more harm short and long term than good, but I think they should at least be 5-7%. Savers are losing ground with rates as low as they are. Sure, 5-7 would hurt the housing market even more, but prices need to continue to drop to get more in line with wages.
Hehehehehe! Never read the dude at all. However, I do love America, and when millionaires becoming billionaires is more important than decent jobs for the working man, I think something stinks. I came to that brilliant insight all by myself.
Do you disagree?
What you're describing is something that's been happening for thousands of years. Your ultimate goal with this problem is Communism. Do a quick google search of the communist manifesto and the tenants of communism. You'll find that much of what liberals and anti-capitalist want follow right along with Karl Marx. The problem with the system is the "redistribution of wealth" and equality is for everyone except the ruling class. Put such a system in place then the only people with money will be the politicians. Corporate executives and corporations are holding onto a percentage of their profit due to the words and actions of the president and congress. They are experiencing a grave uncertainty with Washington policies towards businesses large and small and their owners and executives as well as the added expenses of Obama care and regulations being written frequently by government agencies, some of which are redundant since some agencies' responsibilities cross over onto other agencies' areas of responsibilities (FAA & NTSB for example). If you want their kind of money then start your own business or get degrees in the right fields and work your butt off to get where they are. I'm far from rich but I've never got paid a steady paycheck from a poor man.
If you expect the deficit to shrink merely on spending cuts, you will have to get rid of all entitlements. Voters are not going to have that. What we need are tax increases. This country needs revenue!!!!! Stop listening to these economists who are on the Koch Brothers pay rolls. These think tanks are funded by corporate interest.
Good thing you aren't in any position of importance, with "thought" as you have exibited in your post.
As a matter of fact, the government brings in beaucoup (that means a lot) revenue. It is the massively-accelerated pass that it goes out of the treasury, that is the problem. Keeping up with such levels of spending is like trying to drink the ocean dry.
What you're describing is something that's been happening for thousands of years. Your ultimate goal with this problem is Communism. Do a quick google search of the communist manifesto and the tenants of communism. You'll find that much of what liberals and anti-capitalist want follow right along with Karl Marx. The problem with the system is the "redistribution of wealth" and equality is for everyone except the ruling class. Put such a system in place then the only people with money will be the politicians. Corporate executives and corporations are holding onto a percentage of their profit due to the words and actions of the president and congress. They are experiencing a grave uncertainty with Washington policies towards businesses large and small and their owners and executives as well as the added expenses of Obama care and regulations being written frequently by government agencies, some of which are redundant since some agencies' responsibilities cross over onto other agencies' areas of responsibilities (FAA & NTSB for example). If you want their kind of money then start your own business or get degrees in the right fields and work your butt off to get where they are. I'm far from rich but I've never got paid a steady paycheck from a poor man.
You argue to the extremes, but I want the middle. No, I don't want to create a communist country, but neither do I want inequality to keep growing, so that when private industry is humming along they are fleecing us, and when they fail, we have to bail them out. We don't have much more to give. The workers' position relative to the wealthiest has fallen sharply in recent years. I would be happy to get back to where we were in the 1990s.
Proctor and Gamble said today that during the 1920's people still bought the basic's during the depression, today with 48.5 million people on food stamps and the economy like it is, people are cutting back on soap, deordants, and the basics. Does this give you a clue of how bad it is getting, if taxes are raised then there will be more people on food stamps. If you think about it, during the depression you could visually see the people standing in the soup lines for food, today if it was not for the foodstamp cards then the lines of people would be greater than the 1930's depression.
Not sure that soap or deoderant was considered a basic in the 1920s.
No crap! Which is why I said that there AREN'T jobs- because WE are being over taxed and over-regulated Try setting up a business and let me know how much paperwork and hoops you have to jump through. I know, I was self-employed before. It is absurd how much you are taxed when you have your own business and it is a wonder why companies are apprehensive to expand and hire. GOVT makes it easier and less expensive to stay small and not hire
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